New Hogan/La Contenta, Calif., district to pay $98 per $1,000 of series 1990-2 bonds

By Caroline Salls

Pittsburgh, Feb. 25 - The New Hogan/La Contenta Regional Development Sewer & Water Assessment District in Calaveras County, Calif., will pay $98 per $1,000 in principal amount of its series 1990-2 bonds because the district has decided that there will ultimately not be enough money in the redemption fund to discharge the bonds, according to a notice from fiscal agent U.S. Bank NA.

The district said it will also make principal and interest distributions to bondholders from time to time when money is available in the redemption fund.

The district has set March 2 as the default distribution date, with distributions to be made to bondholders of record as of Feb. 15.

The periodic interest payments will include interest accrued over the period of Sept. 2, 1995 to the March 2 default distribution date.

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