New Jersey Economic defeases school bonds, calls Chambers bonds

By Tali Rackner

Norfolk, Va., May 20 - The New Jersey Economic Development Authority defeased its 2009 series Z school facilities construction bonds and called its Chambers Cogeneration LP - 1991 Project exempt facility bonds, according to two notices.

The authority will redeem $99,675,000 of the school bonds on Dec. 15, 2018 and all $100 million of the Chambers bonds on June 10.

The Chambers bonds, which are due July, 1, 2021, will be redeemed at par plus accrued interest to the redemption date.

U.S. Bank NA is the agent for the school bonds, and Citibank, NA is the trustee for the Chambers bonds.

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