Austin, Texas, defeases series 2007 COPs, bonds, calls series 2005 bonds

By Tali Rackner

Norfolk, Va., Oct. 16 – The City of Austin, Texas, defeased its series 2007 certificates of obligation and series 2007 public improvement bonds and called its series 2005 water and wastewater system revenue refunding bonds, according to two notices.

The following certificates of obligation will be redeemed at par plus accrued interest on Sept. 1, 2017:

• $2,375,000 of 4.88% certificates due Sept. 1, 2027.

The following public improvement bonds will also be redeemed at par plus accrued interest on Sept. 1, 2017:

• $5.12 million of 4.64% bonds due Sept. 1, 2018;

• $5.38 million of 4.64% bonds due Sept. 1, 2019;

• $5,645,000 of 4.64% bonds due Sept. 1, 2020;

• $5.93 million of 4.64% bonds due Sept. 1, 2021;

• $6,225,000 of 4.64% bonds due Sept. 1, 2022;

• $6,535,000 of 4.64% bonds due Sept. 1, 2023;

• $6,865,000 of 4.64% bonds due Sept. 1, 2024;

• $7,205,000 of 4.64% bonds due Sept. 1, 2025;

• $7.57 million of 4.64% bonds due Sept. 1, 2026; and

• $31.47 million of 4.64% bonds due Sept. 1, 2027.

The city called $154,875,000 of the 2005 water and wastewater bonds, which are due 2016 through 2030 and have 5% coupons. They will be redeemed at par on Nov. 15.

U.S. Bank NA is the escrow agent for the certificates and public improvement bonds. The Bank of New York Mellon Trust Co., NA is the trustee agent for the water and wastewater bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.