Greater Cleveland Regional Transit defeases, plans call for G.O. bonds

By Ashley Montgomery

Kansas City, Kan., June 7 - The Greater Cleveland Regional Transit Authority announced the defeasance and planned redemption of a portion of its series 2004 capital improvement and refunding general obligation limited tax bonds, according to a notice.

The bonds will be redeemed on Dec. 1, 2014.

The following bonds have been defeased in full:

$2,015,000 5% bonds due Dec. 1, 2018;

$2,115,000 5% bonds due Dec. 1, 2019;

$2.22 million 5% bonds due Dec. 1, 2020;

$2.33 million 5% bonds due Dec. 1, 2021;

$2.45 million 5% bonds due Dec. 1, 2022;

$2.57 million 5% bonds due Dec. 1, 2023; and

$2.7 million 5% bonds due Dec. 1, 2024.

Additionally, $2.14 million of 5% bonds due Dec. 1, 2017 will be redeemed, leaving $165,000 of the Cusip outstanding.

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