Passaic County, N.J., refunds $53.97 million Preakness Center bonds

By Tali David

Minneapolis, Sept. 13 - Passaic County Improvement Authority, N.J., defeased $53.97 million of its Preakness HealthCare Center Expansion Project lease revenue bonds, series 2005, according to a notice.

The following bonds were defeased:

• $1,675,000 of 5% bonds due May 1, 2016;

• $1.76 million of 5% bonds due May 1, 2017;

• $1,845,000 of 4% bonds due May 1, 2018;

• $1.92 million of 4.125% bonds due May 1, 2019;

• $2 million of 4.2% bonds due May 1, 2020;

• $2,085,000 of 4.25% bonds due May 1, 2021;

• $2.18 million of 4.3% bonds due May 1, 2022;

• $2,275,000 of 4.375% bonds due May 1, 2023;

• $2,385,000 of 5% bonds due May 1, 2024;

• $2,505,000 of 5% bonds due May 1, 2025;

• $5,405,000 of 5% bonds due May 1, 2027;

• $9.19 million of 5% bonds due May 1, 2030; and

• $18,745,000 of 5% bonds due May 1, 2035.

U.S. Bank NA is the escrow agent.

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