Hays County, Texas, prepares to price $96.57 million of bonds

By Sheri Kasprzak

New York, June 20 - Hays County, Texas, is set to price $96.565 million of series 2011 bonds during the week of June 20, according to a preliminary official statement.

The offering includes $10.015 million of series 2011 limited tax bonds, $46.075 million of series 2011 pass-through toll revenue and unlimited tax bonds and $40.475 million of series 2011 unlimited tax road bonds.

The bonds (/AA/AA) will be sold on a negotiated basis with Samco Capital Markets Inc. as the lead manager. The co-managers are Raymond James & Associates Inc., Morgan Keegan & Co. Inc., Piper Jaffray & Co. and Citigroup Global Markets Inc.

The 2011 limited tax bonds are due 2014 to 2031. The 2011 pass-through toll revenue and unlimited tax bonds are due 2014 to 2032. The 2011 unlimited tax road bonds are due 2015 to 2036.

Proceeds from the limited tax bonds will be used to construct, improve, renovate, equip and acquire land and buildings for parks, natural areas, open space, water quality preservation, aquifer recharge areas and wildlife habitat, conservation easements and recreation.

Proceeds from the 2011 pass-through toll revenue and unlimited tax bonds will be used to construct, operate, maintain, expand and repair state highways through the county.

Proceeds from the series 2011 unlimited tax road bonds will be used to construct, expand, repair and maintain county roads and state highways within the county.

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