Salem, Ore., defeases $39.55 million of 2004 water and sewer bonds

By Tali David

Minneapolis, Oct. 17 - The City of Salem, Ore., defeased $39.55 million of its series 2004 water and sewer refunding revenue bonds, according to a redemption notice.

The following bonds were defeased:

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

• $5,225,000 of 5% bonds due May 1, 2014;

• $5.53 million of 5% bonds due May 1, 2015;

• $5.83 million of 5% bonds due May 1, 2016;

• $6,145,000 of 4.5% bonds due May 1, 2017;

• $4.97 million of 4.5% bonds due May 1, 2018; and

• $6.85 million of 4% bonds due May 1, 2020.

U.S. Bank NA is the escrow agent.

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