California plans to redeem $47.3 million American Baptist Homes bonds

By Devika Patel

Knoxville, Tenn., Sept. 12 - The California Statewide Communities Development Authority announced that it will redeem all $47.3 million of its remaining series 2006 variable-rate demand revenue bonds, which were issued for the American Baptist Homes of the West. The authority issued $50 million of the bonds in 2006.

The bonds will be redeemed at par plus interest to Sept. 26, the redemption date.

U.S. Bank NA (800 934-6802) is the trustee.

The authority is based in Walnut Creek, Calif. Its mission is to provide local governments and private entities access to low-cost, tax-exempt financing for projects that provide a tangible public benefit, contribute to social and economic growth and improve the overall quality of life in local communities throughout California.

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