SAN FRANCISCO - The Los Angeles Department of Water and Power, the largest U.S. municipal utility, plans to sell $190 million of revenue bonds next week.

The bonds are the first of $1 billion of refunding bonds approved by the department's Board of Commissioners last year. The bonds will refund the $181 million Series 2001A-1, a term bond that matures in 2024 and is callable on July 1. The interest rate on the outstanding debt is 5%.

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