Detroit defeases $9.61 million of water supply system revenue bonds

By Tali David

Minneapolis, May 29 - The City of Detroit defeased $9,605,000 of its water supply system revenue senior-lien bonds, series 2006(A), according to a defeasance notice.

The city will redeem all $6,605,000 of its 5% series bonds due July 1, 2012.

It will also redeem $3 million of its 5% bonds due July 1, 2013. Following the transaction, $3,935,000 will remain outstanding.

The bonds will be redeemed at par.

U.S. Bank NA is the paying agent.

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