San Jose, Calif., cancels redemption of $45.71 million airport bonds

By Melissa Kory

Cleveland, July 18 - The City of San Jose, Calif., announced the cancellation of the redemption of $45.71 million of its series 2001A airport revenue bonds on July 28 at par.

The city said it does not expect to provide sufficient money to pay the redemption price of the bonds.

The city originally called $131.335 million of the bonds. It expects to go ahead with the redemption of $85.625 million of the bonds on July 28 at par plus accrued interest to the redemption date.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.