Cleveland defeases, refunds $48.1 million of series K revenue bonds

By Devika Patel

Knoxville, Tenn., Oct. 18 - The City of Cleveland said it defeased $48.1 million of its series K, 2002 waterworks revenue bonds and will refund the bonds on Jan. 1.

The affected bonds include the following:

• $4.37 million of 5% bonds due Jan. 1, 2012;

• $575,000 of 4% bonds due Jan. 1, 2012;

• $11.88 million of 5.25% bonds due Jan. 1, 2013;

• $1.58 million of 4% bonds due Jan. 1, 2013;

• $9.54 million of 5.25% bonds due Jan. 1, 2014;

• $185,000 of 4% bonds due Jan. 1, 2014;

• $7.35 million of 5.25% bonds due Jan. 1, 2015;

• $105,000 of 4.125% bonds due Jan. 1, 2015;

• $6.07 million of 5.25% bonds due Jan. 1, 2016;

• $6.37 million of 5.25% bonds due Jan. 1, 2017;

• $25,000 of 4.3% bonds due Jan. 1, 2017;

• $25,000 of 4.6% bonds due Jan. 1, 2020; and

• $30,000 of 4.7% bonds due Jan. 1, 2021.

Wells Fargo Bank, NA (612 667-9764 or 800 344-5128) is the trustee.

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