Virginia Resources Authority defeases water and sewer system bonds

By Ashley Montgomery

Kansas City, Kan., Dec. 4 - Virginia Resources Authority has refunded a portion of its series 2002 water and sewer system revenue bonds, according to a notice.

The bonds were issued for the Goochland County - Tuckahoe Creek Service District project.

The bonds will be redeemed at maturity or at par plus accrued interest to the redemption date, as described below.

The following bonds will be redeemed Dec. 20:

• $32.44 million of 5% current interest bonds due Nov. 1, 2035.

The following bonds will be redeemed at maturity:

• $35,000 of 4.95% capital appreciation bonds due Nov. 1, 2019;

• $495,000 of 5.06% capital appreciation bonds due Nov. 1, 2020;

• $1 million of 5.14% capital appreciation bonds due Nov. 1, 2021;

• $100,000 of 5.33% capital appreciation bonds due Nov. 1, 2025;

• $725,000 of 5.35% capital appreciation bonds due Nov. 1, 2026; and

• $1,455,000 of 5.35% capital appreciation bonds due Nov. 1, 2027.

The following bonds will be redeemed on Nov. 1, 2016:

• $7,175,000 of 5.56% capital appreciation bonds due Nov. 1, 2028;

• $7,175,000 of 5.57% capital appreciation bonds due Nov. 1, 2029;

• $7,085,000 of 5.58% capital appreciation bonds due Nov. 1, 2030; and

• $7.41 million of 5.59% capital appreciation bonds due Nov. 1, 2031.

U.S. Bank, NA is the escrow agent.

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