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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item
Published on 8/17/2011 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

Montgomery County, Md., defeases, calls $258.7 million bonds

By Melissa Kory

Cleveland, Aug. 17 - The Montgomery County of Maryland said it defeased $258.7 million of its consolidated public improvement bonds.

The bonds to be redeemed at 101 plus accrued interest to the redemption date include $89.82 million of 5.25% series 2001A bonds due on Oct. 1 from 2012 through 2019, to be redeemed Oct. 1, and $8 million of 4.25% series 2002A bonds due Feb. 1, 2013, to be redeemed Feb. 1, 2012.

The bonds to be redeemed at par plus accrued interest include:

• $62 million of 4% series 2003A bonds due on May 1 from 2016 through 2023, to be redeemed on May 1, 2013;

• $7.73 million of 4.25% series 2004A bonds due April 1, 2018, to be redeemed April 1, 2014;

• $7.73 million of 4% series 2004A bonds due April 1, 2019, to be redeemed April 1, 2014;

• $7.73 million of 4.5% series 2004A bonds due April 1, 2020, to be redeemed April 1, 2014;

• $7.73 million of 4.5% series 2004A bonds due April 1, 2021, to be redeemed April 1, 2014;

• $7.73 million of 4.75% series 2004A bonds due April 1, 2022, to be redeemed April 1, 2014;

• $7.73 million of 4.25% series 2004A bonds due April 1, 2023, to be redeemed April 1, 2014;

• $10 million of 4% series 2005A bonds due June 1, 2016, to be redeemed on June 1, 2015;

• $10 million of 4% series 2005A bonds due June 1, 2019, to be redeemed on June 1, 2015;

• $10 million of 5% series 2005A bonds due June 1, 2022, to be redeemed on June 1, 2015;

• $10 million of 5% series 2005A bonds due June 1, 2023, to be redeemed on June 1, 2015; and

• $12.5 million of 5% series 2007A bonds due May 1, 2022, to be redeemed on May 1, 2017.

U.S. Bank, NA is the trustee.


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