Shelby County, Tenn., calls and defeases some of its G.O. bonds

By Tali David

Minneapolis, March 1 - Shelby County, Tenn., called some of its series 2003A, 2004 and 2006C general obligation bonds and defeased some series 2003A general obligation bonds, according to separate releases.

The county will redeem the following bonds at par plus accrued interest on April 2:

• Three sets of series 2003A general obligation public improvement and school bonds due March 1, 2026 through 2028;

• $118.82 million of series 2004B general obligation variable-rate demand public improvement and school bonds due April 1, 2030; and

• $143,465,000 of series 2006C general obligation variable-rate demand refunding bonds due Dec. 1, 2031.

Additionally, the county defeased some of its series 2003A special general obligation bonds. The bonds are due Nov. 1, 2013 through 2024 and 2028 and have interest rates from 4% to 5%.

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