Contra Costa California Investment-Grade Bond Optional Redemption (without a Par Call) is a type of municipal bond that is issued by Contra Costa County in California. These bonds are considered "investment-grade," meaning they have a relatively low risk of default and are rated favorably by credit rating agencies. The term "optional redemption" indicates that the issuer has the right, but not the obligation, to redeem the bonds before their maturity date. This flexibility allows the issuer to potentially refinance the debt at a lower interest rate or under more favorable terms. Unlike bonds with a "Par Call," which allows the issuer to redeem the entire issue at a predetermined price, Contra Costa California Investment-Grade Bond Optional Redemption (without a Par Call) does not specify a set price for redemption. Instead, the redemption price may be set according to market conditions at the time of redemption. By providing investors with the ability to redeem the bonds, Contra Costa County aims to offer flexibility and potential cost savings. Investors benefit from the added security and may have the opportunity to reinvest their funds in potentially more lucrative ventures. It's worth noting that there may be different series or tranches of Contra Costa California Investment-Grade Bond Optional Redemption (without a Par Call). These may have varying rates of interest, maturity dates, and other specific terms. Investors should carefully review the prospectus for each series before making any investment decisions. Some relevant keywords for this topic include Contra Costa California, investment-grade bonds, municipal bonds, optional redemption, par call, credit rating agencies, maturity date, refinancing, interest rates, prospectus, and bond series.