Alabama Public School and College Authority to price $181.42 million refunding bonds

By Cristal Cody

Tupelo, Miss., April 9 - The Alabama Public School and College Authority expects to sell $181.42 million in refunding bonds via two sales, according to a notice of sale.

The authority intends to price $110.21 million in series 2010A capital improvement refunding bonds with serial maturities from 2015 through 2019.

In addition, the authority plans to sell $71.21 million in series 2010B capital improvement refunding bonds, according to a notice of sale.

The series 2010A bonds will be purchased by underwriters Morgan Stanley, The Frazer Lanier Co. Inc., Joe Jolly & Co., Inc. and Securities Capital Corp.

The series 2010B bonds, due in 2013 and 2014, are expected to price on April 14 via a competitive sale, according to the notice.

Public FA, Inc. is the authority's financial advisor.

The proceeds will be used to refund the outstanding series 2001C capital improvement bonds, as well as the series 1998 capital improvement bonds maturing in 2018 and the series 2009A refunding bonds maturing in 2029.

The authority is a public corporation of the state of Alabama.

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