Fairfax County Economic Development, Va., plans $65.4 million sale of revenue bonds for May 15

By Sheri Kasprzak

New York, May 7 - The Fairfax County Economic Development Authority of Virginia plans to price $65,395,000 of series 2012A Fairfax County facilities revenue bonds, according to a preliminary official statement. The offering is expected to price on May 15.

The bonds (Aa1/AA+/AA) will be sold on a competitive basis with Public Financial Management Inc. as the financial adviser.

The bonds are due 2013 to 2042.

Proceeds will be used to construct a 200,000 square-foot building to house a new Woodburn Mental Health Center, as well as the construction of a parking facility. The facility is expected to open in the autumn of 2014. The proceeds will also be used to fund the construction of a building to serve as a neighborhood community center, the Providence Community Center, in Fairfax, Va. That facility is set to open in September of 2013.

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