Jacksonville, Fla., arranges $121.49 million special revenue bond deal

By Sheri Kasprzak

New York, Aug. 29 - The City of Jacksonville, Fla., is prepared to price $121.49 million of series 2013 special revenue and refunding bonds, according to a preliminary official statement.

The deal includes $54,065,000 of series 2013A revenue and refunding bonds, $36.13 million of series 2013B taxable revenue and refunding bonds and $31,295,000 of series 2013C revenue refunding bonds.

The bonds (Aa2/AA-/AA) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the senior manager. The co-managers are BofA Merrill Lynch, Barclays and Ramirez & Co. Inc.

The 2013A bonds are due 2014 to 2040, and the 2013B bonds are due 2014 to 2026. The 2013C bonds are due 2027 to 2030.

Proceeds will be used to settle litigation, refund commercial paper notes and refund the city's series 2009C-1, 2010A and 2009A special revenue bonds.

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