Ohio Air Quality authority to redeem, remarket JMG series 2005B bonds

By Angela McDaniels

Tacoma, Wash., Aug. 25 - The State of Ohio Air Quality Development Authority said the $54.5 million of series 2005B revenue refunding bonds it issued on behalf of the JMG Funding, LP project must be tendered for purchase on Sept. 8, after which the bonds will be remarketed.

The mandatory tender is due to the planned conversion of the bonds' interest rate to a weekly rate from an auction-mode rate, according to a notice from the authority.

Bondholders will receive par plus accrued interest.

JMG Funding is a finance subsidiary of Columbus, Ohio-based Ohio Power Co.

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