Reno, Nev., to remarket $172.03 million series 2004A, 2004C, 2005A and 2005B Washoe Medical bonds

By Cristal Cody

Springdale, Ark., June 2 - Reno, Nev., intends to convert and remarket $172.025 million series 2004A, 2004C, 2005A and 2005B hospital revenue bonds on June 23, according to a preliminary remarketing circular.

The auction-rate bonds (Aaa/AAA/) priced for the Washoe Medical Center.

The bonds will be converted to a fixed rate and are subject to mandatory tender on the conversion date.

The remarketing includes $30.325 million series 2004A, $46.525 million series 2004C, $66.025 million series 2005A and $29.15 million series 2005B bonds.

The series 2004A bonds have serial maturities from 2009 through 2018 and term maturities in 2023 and 2028.

The series 2004C bonds have serial maturities from 2009 through 2020 and term maturities in 2024, 2028 and 2033.

The series 2005A bonds have serial maturities from 2011 through 2020 and term maturities in 2024, 2028, 2033 and 2040.

The series 2005B bonds have serial maturities from 2009 through 2020 and term maturities in 2024, 2028 and 2033.

The series 2004A bonds are insured by Ambac Assurance Corp., and Financial Security Assurance insures the series 2004C, 2005A and 2005B bonds.

Merrill Lynch & Co. is the senior remarketing agent, and Raymond James & Associates is a co-remarketing agent.

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