Utah Water Finance Agency to redeem B-3, B-5 program revenue bonds

By Marisa Wong

Milwaukee, April 21 -The Utah Water Finance Agency gave notice that it there will be a mandatory redemption of its outstanding program revenue bonds, series B-3 and B-5 on May 11.

The agency will redeem its $75 million outstanding B-3 bonds and its $28.7 million outstanding B-5 bonds.

The bonds will be redeemed at par plus accrued interest up to the redemption date.

The mandatory redemption follows the replacement of a liquidity agreement set to expire May 12, 2010 between the agency, the Metropolitan Water District of Salt Lake and Sandy and JPMorgan Chase Bank, NA. The substitute liquidity facility will take effect on May 11.

Zions First National Bank is the trustee.

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