Metropolitan Water District, Calif., defeases 2003B-1, B-3 water bonds

By Tali David

Minneapolis, March 20 - The Metropolitan Water District of Southern California defeased $97.28 million of its 2003 authorization series B-1 and $98,995,000 of its 2003 authorization series B-3 water revenue bonds, according to a notice.

The following series B-1 bonds will be redeemed at par plus accrued interest on Oct. 1, 2013:

• $10,025,000 of bonds due Oct. 1, 2029;

• $10.24 million of bonds due Oct. 1, 2030;

• $12,335,000 of bonds due Oct. 1, 2031;

• $12.3 million of bonds due Oct. 1, 2032;

• $13,435,000 of bonds due Oct. 1, 2033;

• $13.97 million of bonds due Oct. 1, 2034;

• $14.4 million of bonds due Oct. 1, 2035; and

• $10,575,000 of bonds due Oct. 1, 2036.

The following series B-3 bonds will be redeemed at par plus accrued interest on Oct. 1, 2014:

• $13,515,000 of bonds due Oct. 1, 2023;

• $12.52 million of bonds due Oct. 1, 2024;

• $13.05 million of bonds due Oct. 1, 2025;

• $13,705,000 of bonds due Oct. 1, 2026; and

• $46,205,000 of bonds due Oct. 1, 2029.

The Bank of New York Mellon Trust Co., NA is the escrow agent.

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