Hillsborough announces defeasance of $49.66 million of its bonds

By Devika Patel

Knoxville, Tenn., Feb. 4 - Hillsborough County in Florida said it has defeased $49.66 million of its series 2006 capital improvement non-ad valorem refunding revenue bonds with maturity dates ranging from July 1, 2010 to July 1, 2022 and coupons from 4% to 5%.

The issuer has set up an account that guarantees that these bonds will be paid.

The county may elect to redeem the bonds prior to maturity.

The county seat of Hillsborough County is Tampa, Fla.

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