Washington Economic defeases 2005E, 2006J Biomedical Research bonds

By Tali Rackner

Norfolk, Va., Aug. 21 – The Washington Economic Development Finance Authority defeased its series 2005E and 2006J lease revenue bonds issued for Washington Biomedical Research Properties II, according to two notices.

The authority will redeem $1,985,000 of 5% 2005E bonds at par on their maturity date of June 1, 2015. It will also redeem $3.15 million of 5.6% 2006J bonds at par on their maturity date, which is also June 1, 2015.

The following 2005E bonds will be redeemed at par on Dec. 1, 2015:

• $2,085,000 of 5% bonds due June 1, 2016;

• $2.19 million of 4.4% bonds due June 1, 2017;

• $2,285,000 of 5.25% bonds due June 1, 2018;

• $2,405,000 of 5.25% bonds due June 1, 2019;

• $2,535,000 of 5.25% bonds due June 1, 2020;

• $2,665,000 of 5.25% bonds due June 1, 2021;

• $2,805,000 of 5.25% bonds due June 1, 2022;

• $2,955,000 of 5.25% bonds due June 1, 2023;

• $3.11 million of 5.25% bonds due June 1, 2024;

• $3.27 million of 5.25% bonds due June 1, 2025;

• $3,445,000 of 5.25% bonds due June 1, 2026;

• $15.62 million of 5% bonds due June 1, 2030;

• $18,985,000 of 5% bonds due June 1, 2034; and

• $23.08 million of 5% bonds due June 1, 2038.

The following 2006J bonds will be redeemed at par on June 1, 2016:

• $3,325,000 of 5% bonds due June 1, 2016;

• $3.49 million of 5% bonds due June 1, 2017;

• $3.67 million of 5% bonds due June 1, 2018;

• $2.87 million of 5% bonds due June 1, 2019;

• $3,015,000 of 5% bonds due June 1, 2020;

• $3,165,000 of 5% bonds due June 1, 2021;

• $3.32 million of 5% bonds due June 1, 2022; and

• $3.49 million of 5% bonds due June 1, 2023.

U.S. Bank NA is the escrow agent.

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