Texas Transportation defeases $848.3 million of highway fund bonds

By Wendy Van Sickle

Columbus, Ohio, July 22 – The Texas Transportation Commission defeased $848.3 million of state highway fund first tier revenue bonds, series 2006A, 2007 and 2008, according to a notice.

The $10,665,000 of 2006A 4.375% bonds due April 1, 2025 will be redeemed on April 1, 2016 at par plus accrued interest.

The following series 2007 5% bonds will be redeemed on April 1, 2017 at par plus accrued interest:

• $62.98 million of bonds due April 1, 2018;

• $66,125,000 of bonds due April 1, 2019;

• $69,435,000 of bonds due April 1, 2020;

• $72,905,000 of bonds due April 1, 2021;

• $76,550,000 of bonds due April 1, 2022;

• $80.38 million of bonds due April 1, 2023;

• $84,395,000 of bonds due April 1, 2024;

• $88,615,000 of bonds due April 1, 2025;

• $93.05 million of bonds due April 1, 2026; and

• $97.7 million of bonds due April 1, 2027.

The following series 2008 5% bonds will be redeemed April 1, 2018 at par plus accrued interest:

• $8,235,000 of bonds due April 1, 2019;

• $8,645,000 of bonds due April 1, 2020;

• $9.08 million of bonds due April 1, 2021;

• $9.53 million of bonds due April 1, 2022; and

• $10.01 million of bonds due April 1, 2023.

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