Portland, Ore., plans to convert $150 million pension bonds from auction rate

By Cristal Cody

Springdale, Ark., March 7 - Portland, Ore., expects to convert the interest rates for $150 million limited tax pension obligation revenue bonds, the city's debt manager said Friday.

The city will restructure the seven-day taxable auction rate series 1999 D and E bonds to a fixed interest rate, said Eric Johansen, debt manager.

Series D bonds of $75 million will convert on April 22. Series E bonds of $75 million will convert on April 24.

Goldman, Sachs & Co. is the remarketing agent.

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