Colorado Springs purchases $117.45 million of tendered 2004A bonds

By Marisa Wong

Madison, Wis., Aug. 3 - The City of Colorado Springs said that its $117.45 million of outstanding variable-rate demand utilities system subordinate-lien refunding revenue bonds, series 2004A, were called for mandatory tender on Aug. 3.

The tendered bonds were purchased at par plus accrued interest to the tender date.

The mandatory tender is due to substitution on Aug. 8 of a new standby bond purchase agreement among the issuer, Citibank, NA and Wells Fargo Bank, NA for the bonds' existing liquidity facility from Dexia Credit Local, New York Agency.

Wells Fargo was the tender agent.

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