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Philadelphia defeases $14.51 million of its gas works revenue bonds
By Tali David
Minneapolis, Aug. 28 - The City of Philadelphia, Pa., defeased $14.51 million of its 1998 general ordinance gas works revenue bonds, according to multiple defeasance notices.
The city defeased $3.09 million of fourth series bonds due Aug. 1, 2013, $6,105,000 of seventh series bonds due Oct. 1, 2012 and $5,315,000 of eighth series A bonds due Aug. 1, 2013.
The bonds will be redeemed at maturity.
U.S. Bank NA is the escrow agent.
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