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Colorado Springs, Colo., utilities system bonds have mandatory tender
By Ashley Montgomery
Kansas City, Kan., Aug. 13 - The City of Colorado Springs, Colo., said its series 2005A variable-rate demand utilities system subordinate-lien improvement revenue bonds are subject to mandatory tender, according to a notice.
The bonds will be purchased on Sept. 10 at par plus accrued interest.
The mandatory tender was triggered by the Sept. 17 termination of the city's standby bond purchase agreement with Bank of America, NA and Wells Fargo Bank, NA. The agreement will be replaced by a standby bond purchase agreement among the city, Bank of Montreal and Wells Fargo Bank, NA. The new agreement will terminate on Sept. 15, 2015.
Wells Fargo Bank, NA is the agent.
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