A state issued 70000000 of 4 20 year term bonds at 105 to

Reference no: EM13572299

A state issued $70,000,000 of 4%, 20 year term bonds at 105 to provide financing for construction of a new state legislative office building. The premium which is to be used for debt service was transferred to the appropriate fund. Bond issue costs of $70,000 were paid directly from general fund. The bond were issued on APRIL 1 and annual interest is due each march 31.

Reference no: EM13572299

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