Santa Clara Valley Transportation, Calif., to sell $700 million sales tax revenue bonds Tuesday

By Sheri Kasprzak

New York, Nov. 8 - The Santa Clara Valley Transportation Authority is set to price $700 million of series 2010 sales tax revenue bonds on Tuesday, according to a sales calendar.

The bonds (Aa2/AA+/) will be sold through Barclays Capital Inc.

The offering includes $515 million of series 2010A Build America Bonds and $185 million of series 2010B tax-exempt bonds.

Proceeds from the sale will be used to finance capital improvements to the county's commuter projects.

Based in San Jose, Calif., the authority operates bus and light rail services throughout the county and provides capital funding for regional commuter rail lines in the county.

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