Fort Myers, Fla., plans utility system revenue and refunding bonds

By Sheri Kasprzak

New York, Dec. 1 - The City of Fort Myers, Fla., is set to price $68.455 million of series 2011 utility system revenue and refunding bonds, according to a preliminary official statement.

The bonds (Aa3/A/A+) will be sold on a negotiated basis with Raymond James & Associates Inc. and Estrada Hinojosa & Co. Inc. as the senior managers.

The bonds are due 2012 to 2041.

Proceeds will be used to acquire, construct and equip various capital improvements to the city's utility system in accordance with the city's five-year capital improvement plan.

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