Fairfax County Economic Development, Va., to sell $83.63 million refunding bonds Wednesday

By Sheri Kasprzak

New York, May 7 - The Fairfax County Economic Development Authority is scheduled to price $83,625,000 of series 2012 Route 28 transportation contract revenue refunding bonds on Wednesday, according to a preliminary official statement.

The bonds (Aa3/AA+/) will be sold competitively with Public Financial Management Inc. and Davenport & Co. LLC as the financial advisers.

The bonds are due 2014 to 2033.

Proceeds will be used to refund the authority's series 2003 and 2004 transportation revenue bonds, which were used to make improvements to Route 28, a north-south state highway that passes through Fairfax and Loudoun counties and connects Route 7 in the north with the Dulles, Greenway, Route 50 and Interstate 66 in the south, passing through the Washington Dulles International Airport.

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