Columbus, Ohio, plans $481.4 million sale of general obligation bonds

By Sheri Kasprzak

New York, July 18 – The City of Columbus, Ohio, is slated to price $481.4 million of series 2016 general obligation securities on Thursday, according to a preliminary official statement.

The offering is comprised of $372,315,000 of series 2016A various purpose unlimited tax G.O. bonds, $81.35 million of series 2016B various purpose limited tax G.O. bonds, $2,575,000 of series 2016C taxable various purpose unlimited tax G.O. bonds, $13.36 million of series 2016D taxable limited tax G.O. bonds and $11.8 million of series 2016 various purpose limited tax G.O. notes.

The securities (Aaa/VMIG 1/AAA/AAA) will be sold on a competitive basis with H.J. Umbaugh & Associates as the financial adviser.

The 2016A bonds are due 2018 to 2037. The 2016B bonds are due 2018 to 2033, and the 2016C bonds are due 2018 to 2032. The 2016D bonds are due 2018 to 2030, and the notes are due Aug. 4, 2017.

Proceeds will be used to finance capital expenditures, including public health and safety, parks and recreation, utility and other projects.

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