New York defeases $205.09 million series 1998, 1999 G.O. bonds

By Angela McDaniels

Tacoma, Wash., June 18 - The City of New York has defeased $205,087,000 of its series 1998 and series 1999 general obligation bonds and will redeem them in July and August.

The city is using proceeds from its recent $989.9 million sale of series 2009J and series 2009K G.O. bonds to fund the defeasance.

The defeasance covers the following:

• $280,000 of series 1998D bonds to be redeemed at par on Aug. 1;

• $13,142,000 of series 1998F bonds to be redeemed at 100.5 on July 15;

• $1,695,000 of series 1998G bonds to be redeemed at 100.5 on Aug. 1;

• $6,745,000 of series 1998H bonds to be redeemed at 100.5 on Aug. 1;

• $1,855,000 of the series 1998H term bonds due 2018 at 100.5 on Aug. 1;

• $1.97 million of series 1998I bonds to be redeemed at 100.5 on July 15;

• $13,965,000 of the series 1998I term bonds due 2018 at 100.5 on July 15;

• $2.79 million of the series 1998I term bonds due 2023 at 100.5 on July 15;

• $24,705,000 of series 1998J bonds to be redeemed at 100.5 on Aug. 1;

• $30,390,000 of series 1999A bonds to be redeemed at 100.5 on Aug. 1;

• $1.51 million of the series 1999A term bonds due 2021 at 100.5 on Aug. 1;

• $25,880,000 of series 1999C bonds to be redeemed at 100.5 on Aug. 15;

• $2,115,000 of series 1999D bonds to be redeemed at 100.5 on Aug. 1;

• $35,000 of series 1999F bonds to be redeemed at 101 on July 15; and

• $78,010,000 of series 1999K bonds to be redeemed at 101 on Aug. 1.

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