Municipals flat; Florida to bring $303.95 million; University System of Maryland plans sale

By Cristal Cody

Tupelo, Miss., Sept. 2 - Activity in the municipal market stayed light on Thursday as investors and traders left ahead of the three-day holiday weekend.

"Quiet here," a trader said.

The market is expected to be more active with new issuance after Labor Day, according to sources.

Coming up, the State of Florida expects to sell $303.95 million in bonds for the State Board of Education, according to notices of sales.

The $58.95 million series 2010A full faith and credit capital outlay bonds will price via a competitive sale. The state provides notice of the date for competitive sales no less than 18 hours before the time bids will be received. The first date on which the bonds may be sold is Sept. 13, according to the notice.

The state also intends to price $245 million in lottery revenue refunding bonds for the State Board of Education through a competitive sale, according to a separate notice of sale.

The first date on which the bonds could be sold was Monday, according to the notice.

Maryland University System to sell

Coming up on Wednesday, the University System of Maryland plans to price $50.64 million in auxiliary facility and tuition revenue bonds through a competitive sale, according to a preliminary official statement released Thursday.

The series 2010C refunding bonds have serial maturities from 2011 through 2023.

Public Financial Management, Inc. is the financial adviser.

Proceeds will be used to refund in advance some maturities from the outstanding series 2002A, 2003A, 2004A and 2005A bonds.

The university system is based in Adelphi, Md.

McCracken County plans bonds

In other upcoming primary deals, McCracken County of Kentucky and the School District Finance Corp. plan to sell $55 million in school building revenue bonds, according to a sale calendar published on Thursday.

The bonds are expected to price via a competitive sale on Oct. 26, according to the calendar.

J.J.B. Hilliard, W.L. Lyons, LLC is the fiscal agent handling the sale.

The county seat is Paducah, Ky.

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