Monroe County authority's Georgia Power bonds have mandatory tender

By Marisa Wong

Madison, Wis., Sept. 24 - The Development Authority of Monroe County, Ga., said its Georgia Power Co., Plant Scherer Project pollution control revenue bonds, second series 2009, are subject to mandatory tender for purchase on Oct. 8.

The bonds are subject to mandatory tender because interest on the bonds will no longer accrue at the modified daily rate, effective Oct. 8.

The purchase price for the bonds will be par plus accrued interest up to the effective date.

Affected are $89.2 million of bonds due Oct. 1, 2048 and $40 million of bonds due July 1, 2049.

Bank of New York Mellon Trust Co., NA is the trustee.

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