Chippewa Valley Schools, Mich., plans to price $89.77 million bonds

By Sheri Kasprzak

New York, March 23 - The Chippewa Valley Schools of Michigan is expected to price $89.765 million in series 2010 school building and site bonds, according to a preliminary official statement.

The offering includes $20 million in series 2010A taxable bonds and $69.765 million in series 2010B Build America Bonds.

Fifth Third Securities Inc. is the senior manager. The co-managers are Comerica Securities, Edward D. Jones & Co. LP and Stifel, Nicolaus & Co. Inc.

The 2010A bonds are due 2011 to 2016, and the 2010B bonds are due 2017 to 2035.

Proceeds will be used to fund the purchase of land for school construction, as well as the construction costs associated with building new schools.

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