Texas Transportation defeases 2006A, 2007 G.O. mobility fund bonds

By Tali Rackner

Norfolk, Va., Oct. 14 – The Texas Transportation Commission defeased its series 2006A and 2007 State of Texas general obligation mobility fund bonds, according to two notices.

The following 2006A bonds, totaling $269.41 million, will be redeemed at par plus accrued interest on April 1, 2017:

• $62,405,000 of 4.5% bonds due April 1, 2028;

• $75,975,000 of 4.5% bonds due April 1, 2030; and

• $131.03 million of 5% bonds due April 1, 2033.

The following 2007 bonds, totaling $333.54 million, will also be redeemed at par plus accrued interest on April 1, 2017:

• $34.57 million of 4.75% bonds due April 1, 2029;

• $37.33 million of 4.5% bonds due April 1, 2033; and

• $261.64 million of 5% bonds due April 1, 2037.

Amegy National Bank Association is the escrow agent.

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