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The refunding bonds will consist of current interest bonds, capital appreciation bonds and deferred interest bonds and provide debt service relief to the authority in fiscal years 2011 through 2015 and extend bond maturities from 2042 to 2050; additional restructuring for debt service relief is expected in the future.
Series A and C will include current and deferred interest bonds while series B will be mini deferred interest bonds.
Dated July 2, the bond issues will include current interest bonds, capital appreciation bonds and deferred interest bonds, which together mature 2006-2042.
50 deferred interest bonds due 2006-21 and term bonds, $24,035,000 due in 2026 and $30,821,000 in 2031.