California Statewide's Western University bonds have mandatory tender

By Marisa Wong

Madison, Wis., July 15 - California Statewide Communities Development Authority said that its $100.39 million of Western University of Health Services series 2007A variable-rate demand revenue bonds are subject to mandatory tender for purchase on July 28.

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

The mandatory purchase is the result of the conversion of the bonds to the daily interest rate period.

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

The Walnut Creek, Calif.-based authority gives local governments access to low-cost, tax-exempt financing for community projects. Western University is a graduate school for the health professions and is located in Pomona, Calif.

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