California plans to redeem $123.3 million Children's Hospital bonds

By Devika Patel

Knoxville, Tenn., May 6 - The California Statewide Communities Development Authority announced that it will redeem all $123.3 million of its remaining series 2004B, 2008A, 2008B and 2008C variable-rate revenue bonds, which were issued for the Children's Hospital Los Angeles.

The authority will redeem all $8.2 million of the series 2004B bonds, $45.1 million of the 2008A bonds, $50 million of the 2008B bonds and $20 million of the 2008C bonds at par plus interest to May 21, the redemption date.

The Bank of New York Mellon (800 254-2826) is the trustee.

The authority is based in Walnut Creek, Calif. Its mission is to provide local governments and private entities access to low-cost, tax-exempt financing for projects that provide a tangible public benefit, contribute to social and economic growth and improve the overall quality of life in local communities throughout California.

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