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Prospect News home > News index > List of issuers K > Headlines for King County > News item
Published on 2/18/2015 in the Prospect News Liability Management Daily and Prospect News Municipals Daily.

King County, Wash., defeases sewer revenue bonds, limited tax G.O.s

By Tali Rackner

Norfolk, Va., Feb. 18 – King County, Wash., defeased its series 2007, 2008 and 2009 sewer revenue bonds and series 2009 limited tax general obligation resolution school financing bonds payable from sewer revenues, according to multiple notices.

The following 2006 bonds will be redeemed at par plus accrued interest on July 1, 2017:

• $1,225,000 of 5% bonds due Jan. 1, 2031;

• $1.23 million of 5% bonds due Jan. 1, 2032;

• $3,585,000 of 5% bonds due Jan. 1, 2033;

• $25,785,000 of 5% bonds due Jan. 1, 2037;

• $29.98 million of 5% bonds due Jan. 1, 2039;

• $50,825,000 of 5% bonds due Jan. 1, 2042; and

• $28.12 million of 5% bonds due Jan. 1, 2047.

The following 2007 bonds will be redeemed at par plus accrued interest on Jan. 1, 2018:

• $50.52 million of 5% bonds due Jan. 1, 2038;

• $41,345,000 of 5.125% bonds due Jan. 1, 2040;

• $70,095,000 of 5.75% bonds due Jan. 1, 2043; and

• $142.24 million of 5.25% bonds due Jan. 1, 2048.

The following 2009 bonds will be redeemed at par plus accrued interest on Jan. 1, 2019:

• $1.84 million of 5% bonds due Jan. 1, 2021;

• $2.01 million of 5% bonds due Jan. 1, 2023;

• $2.11 million of 5% bonds due Jan. 1, 2024;

• $2,215,000 of 5% bonds due Jan. 1, 2025;

• $2,325,000 of 5% bonds due Jan. 1, 2026;

• $2.44 million of 5% bonds due Jan. 1, 2027;

• $2,565,000 of 5% bonds due Jan. 1, 2028;

• $2.69 million of 5% bonds due Jan. 1, 2029;

• $2,825,000 of 5% bonds due Jan. 1, 2030;

• $2.97 million of 5% bonds due Jan. 1, 2031;

• $3,115,000 of 5% bonds due Jan. 1, 2032; and

• $3.27 million of 5% bonds due Jan. 1, 2033.

The following 2009 limited tax G.O. bonds will be redeemed at par plus accrued interest on Jan. 1, 2019:

• $8,145,000 of 5% bonds due Jan. 1, 2021;

• $8.56 million of 5% bonds due Jan. 1, 2022;

• $9 million of 5% bonds due Jan. 1, 2023;

• $9.46 million of 5% bonds due Jan. 1, 2024;

• $9.95 million of 5% bonds due Jan. 1, 2025;

• $10.46 million of 5% bonds due Jan. 1, 2026;

• $10,995,000 of 5% bonds due Jan. 1, 2027;

• $11.56 million of 5% bonds due Jan. 1, 2028;

• $12.15 million of 5% bonds due Jan. 1, 2029;

• $12,775,000 of 5% bonds due Jan. 1, 2030;

• $42.47 million of 5.125% bonds due Jan. 1, 2033;

• $49.53 million of 5.125% bonds due Jan. 1, 2036; and

• $57.88 million of 5.25% bonds due Jan. 1, 2039.

U.S. Bank NA is the escrow agent.


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