Florida Governmental Utility Authority to price $124.315 million of refunding revenue bonds

By Sheri Kasprzak

New York, Sept. 24 - The Florida Governmental Utility Authority plans to bring to market $124.315 million of series 2010 utility refunding revenue bonds for the Aloha Utility System, said a preliminary official statement.

The offering includes $4.905 million of series 2010A bonds and $119.41 million of series 2010B bonds.

The bonds (A2) will be sold on a negotiated basis with Wells Fargo Securities LLC and RBC Capital Markets Corp. as the senior managers.

The maturities have not been set.

Proceeds will be used to fund improvements to the utility system, as well as refund the authority's series 2009 Aloha Utility System revenue bonds, which were used to acquire water and wastewater facility in Pasco County, Fla.

The authority, based in Longwood, Fla., provides private utilities to local governments until those governments can assume ownership and enables local governments to acquire private utilities.

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