North Texas Tollway defeases or calls $254.09 million of 2003C, 2005A bonds

By Laura Lutz

Des Moines, April 11 - North Texas Tollway Authority called $58.76 million of its Dallas North Tollway System revenue refunding bonds, series 2003C, and $195.33 million of its Dallas North Tollway System revenue bonds, series 2005A.

At the same time, the authority announced the defeasance to maturity of $18.375 million of the 2003C bonds and $19.855 million of the 2005A bonds. Those bonds are not subject to redemption and will be paid at maturity.

The authority's $58.76 million of multiannual 2003C bonds due 2018 were defeased and called for redemption at par on July 1.

Nine maturities of the authority's 2005A bonds were called for redemption at par on Jan. 1, 2015.

Those consist of $8.285 million of 5% bonds due 2025, $8.7 million of 5% bonds due 2026, $9.135 million of 5% bonds due 2027, $9.59 million of 5% bonds due 2028, $10.07 million of 5% bonds due 2029, $10.575 million of 5% bonds due 2030, $61.365 million of 5% bonds due 2035, $44.455 million of 4.5% bonds due 2038 and $33.155 million of 5% bonds due 2040.

The 2003C bonds defeased to maturity were $8.96 million of 5% bonds due 2009 and $9.415 million of 5% bonds due 2010.

The 2005A bonds defeased to maturity were $3.125 million of 5% bonds due 2010, $2 million of 4% bonds due 2011, $1.16 million of 4% bonds due 2012, $3.415 million of 5% bonds due 2013, $4.185 million of 4.5% bonds due 2014 and $5.97 million of 5% bonds due 2015.

Wells Fargo Bank, NA (800 344-5128) is the trustee for the bonds.

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