Modesto Irrigation District, Calif., defeases $143.23 million certificates of participation

By Tali David

Minneapolis, Nov. 29 - Modesto Irrigation District, Calif., defeased $143,225,000 of its certificates of participation, according to a Rule 15c2-12 filing with the Securities and Exchange Commission.

The district will redeem $93,225,000 of its series 2003A 1996 refunding and capital improvement certificates on July 1, 2013. They have maturities of July 1, 2013 through July 1, 2025, July 1, 2028 and July 1, 2033.

On July 1, 2014, the district will redeem $50 million of its series 2004A capital improvement certificates, which are due July 1, 2016 through July 1, 2026.

The redemptions will be funded with the proceeds from an Oct. 25 issuance of series 2012A electric system refunding revenue bonds and series 2012B taxable electric system refunding revenue bonds.

© 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.