Salt River Project, Ariz., defeases 2002 electric system revenue bonds

By Tali David

Minneapolis, May 2 - Salt River Project Agricultural Improvement and Power District, Ariz., defeased $261.36 million of its 2002 series B electric system refunding revenue bonds, according to a notice.

The district will redeem $149.87 million of 5% bonds due Jan. 1, 2031 and $111.49 million of 4.75% bonds due Jan. 1, 2032.

The bonds will be redeemed at par on Jan. 1, 2013.

U.S. Bank NA is the escrow agent.

The utility is based in Tempe, Ariz.

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