Frisco, Texas, arranges $53.08 million offering of G.O.s, certificates

By Sheri Kasprzak

New York, Aug. 11 – The City of Frisco, Texas, is set to price $53,075,000 of series 2014 general obligation bonds and certificates of obligation on Tuesday, according to a preliminary official statement.

The offering includes $39,975,000 of series 2014 G.O. improvement and refunding bonds and $13.1 million of series 2014 combination tax and surplus revenue certificates of obligation.

The G.O.s are due 2015 to 2034, and the certificates are due 2015 to 2034.

The bonds (Aa1/AA+/) will be sold on a negotiated basis with Wells Fargo Securities LLC as the senior manager and Raymond James/Morgan Keegan and Baird & Co. as the co-managers.

Proceeds will be used to construct and improve streets, bridges and intersections, construct and improve municipal parks, hiking and biking trails and acquiring land for parks, to improve the water and sewer system, as well as to refund the city’s series 2004, 2005 and 2006 certificates and G.O. bonds.

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