Forsyth County, N.C., preparing to sell $199.63 million G.O. bonds

By Sheri Kasprzak

New York, Aug. 11 - Forsyth County in North Carolina plans to price $199.625 million in series 2010 general obligation bonds, according to a preliminary official statement.

The offering comprises $14.225 million in series 2010A G.O. public improvement bonds, $41.195 million in series 2010B G.O. public improvement bonds, $75.8 million in series 2010C Build America Bonds, $26.405 million in series 2010D taxable qualified school construction bonds and $42 million in series 2010E G.O. refunding bonds.

The bonds (Aaa/AAA/AAA) will be sold on a negotiated basis with Bank of America Merrill Lynch and Stephens Inc. as the senior managers.

The 2010A bonds are due 2012 to 2021, and the 2010B bonds are due 2012 to 2020. The 2010C bonds are due 2021 to 2025 with a term bond due 2030. The 2010D bonds are due 2027. The 2010E bonds are due 2011 to 2023.

Proceeds will be used to finance capital improvements, including the construction of new schools, as well as to refund the county's series 2003A-B, 2007 and 2008 bonds.

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