Florida plans to price two bonds totaling $615.4 million in February

By Cristal Cody

Springdale, Ark., Jan. 31 - Florida expects to price $615.4 million bonds through two competitive sales in early to mid-February, the issuer told Prospect News on Thursday.

The state plans to price $315.4 million of State Board of Education lottery revenue bonds and $300 million of public education capital outlay bonds.

The series 2008A lottery bonds will have serial maturities from July 1, 2008 to 2027. Part of the proceeds will be used to finance the costs of constructing and renovating schools in the state and to refund a portion of the series 1998B lottery revenue bonds.

The full faith and credit series 2007C capital outlay bonds mature June 1, 2008 through 2037. Proceeds will be used to help pay the cost of capital outlay projects for the state's public education system.

Bond sales are on an 18-hour notice, but the bonds could price as early as next week, said Carol Bagley, with the state's division of bond finance.

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