Detroit to redeem some 1992, 2001A-B sewage disposal revenue bonds

By Marisa Wong

Madison, Wis., May 27 - City of Detroit said it will redeem portions of its series 1992 and 2001A and all of its series 2001B water supply system revenue bonds on July 1.

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

To be redeemed are $3.275 million of 6.25% series 1992 bonds due July 1, 2012 and the following 2001A bonds:

• $1.68 million of 4.5% bonds due July 1, 2012;

• $1.7 million of 5% bonds due July 1, 2013;

• $10.385 million of 5.5% bonds due July 1, 2024;

• $51.785 million of 5.75% bonds due July 1, 2028;

• $83.025 million of 5.25% bonds due July 1, 2033; and

• $78.8 million of 5.25% bonds due July 1, 2033.

Affected are the following 2001B bonds:

• $855,000 of 4.5% bonds due July 1, 2012;

• $895,000 of 4.625% bonds due July 1, 2013;

• $960,000 of 4.75% bonds due July 1, 2014;

• $1 million of 5% bonds due July 1, 2015;

• $1.03 million of 5% bonds due July 1, 2016;

• $1.085 million of 5% bonds due July 1, 2017;

• $1.095 million of 5.125% bonds due July 1, 2018;

• $1.195 million of 5.125% bonds due July 1, 2019;

• $1.255 million of 5.25% bonds due July 1, 2020;

• $1.32 million of 5.25% bonds due July 1, 2021; and

• $98.295 million of 5.5% bonds due July 1, 2033.

The $51.785 million of 5.75% 2001A bonds and the $98.295 million of 5.5% 2001B bonds will be redeemed at 101. All other bonds will be redeemed at par.

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