Virginia defeases and calls Route 58, Transportation District bonds

By Tali David

Minneapolis, Feb. 24 - Commonwealth of Virginia Transportation Board defeased $36.64 million and called $3.66 million of its U.S. Route 58 Corridor Development Program revenue refunding bonds and defeased $81.13 million and called $15.38 million of its Northern Virginia Transportation District Program revenue refunding bonds according to multiple releases.

The board defeased the following Route 58 series 2002B bonds, to be redeemed on May 15:

• $5.39 million of bonds due May 15, 2013;

• $5.66 million of bonds due May 15, 2014;

• $5,935,000 of bonds due May 15, 2015;

• $6,235,000 of bonds due May 15, 2016;

• $6,545,000 of bonds due May 15, 2017; and

• $6,875,000 of bonds due May 15, 2018.

The board called $3,656,000 of its 5.375% series 2001B bonds due May 15, 2013. The bonds will be redeemed at par plus accrued interest on March 26.

The following Northern Virginia Transportation series 2002A bonds were defeased and will be redeemed on May 15:

• $8.28 million of bonds due May 15, 2013;

• $8,695,000 of bonds due May 15, 2014;

• $7.37 million of bonds due May 15, 2015;

• $7,755,000 of bonds due May 15, 2016;

• $10.11 million of bonds due May 15, 2017;

• $8,575,000 of bonds due May 15, 2018;

• $9,025,000 of bonds due May 15, 2019;

• $2,265,000 of bonds due May 15, 2020;

• $2.37 million of bonds due May 15, 2021;

• $2,475,000 of bonds due May 15, 2022;

• $2,585,000 of bonds due May 15, 2023;

• $2,705,000 of bonds due May 15, 2024; and

• $8.92 million of bonds due May 15, 2027.

The board called the following series 2001A bonds to be redeemed at par plus accrued interest on March 26:

• $2,045,000 of 5.375% bonds due May 15, 2013;

• $3,095,000 of 5% bonds due May 15, 2021;

• $3.25 million of 5% bonds due May 15, 2022;

• $3.41 million of 5% bonds due May 15, 2023; and

• $3.58 million of 5% bonds due May 15, 2024.

U.S. Bank NA is the trustee.

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