Richmond Joint Powers Financing Authority, Calif., to tender, remarket $101.42 million series 2007 bonds

By Cristal Cody

Springdale, Ark., May 13 - The Richmond Joint Powers Financing Authority in Contra Costa County, Calif., plans to tender, convert and remarket $101.42 million series 2007 lease revenue bonds, according to a preliminary remarketing memorandum released Tuesday.

The bonds (Aaa/AAA/) will be converted from a weekly interest rate to a long-term interest rate on May 28. The initial long-term interest rate will end on Nov. 25, 2009.

The bonds are due Aug. 1, 2037 and are insured by Ambac Assurance Corp.

RBC Capital Markets Corp. is the remarketing agent.

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