M-S-R Public Power of California's two series of San Juan Project bonds have mandatory tender

By Marisa Wong

Madison, Wis., May 23 - M-S-R Public Power Agency gave notice that its San Juan Project subordinate-lien revenue bonds, tax-exempt series 2008M and taxable series 2008N, are subject to mandatory tender for purchase on June 15.

The bonds will be purchased at par plus accrued interest to the tender date.

Affected are $62.5 million of daily variable-rate 2008M bonds due July 1, 2022 and $17 million of weekly variable-rate 2008N bonds due July 1, 2020.

U.S. Bank, NA is the trustee.

M-S-R Public Power is a California joint power agency consisting of the city of Santa Clara, the city of Redding and the Modesto Irrigation District. The San Juan Project is a coal-fired steam electric generating unit located near Farmington, N.M.

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