Published on 3/5/2013 in the Prospect News Municipals Daily.
New Issue: Hidalgo County Drainage District No. 1, Texas, prices $84 million bonds
By Sheri Kasprzak
New York, March 5 - The Hidalgo County Drainage District No. 1 of Texas sold $84 million of series 2013 unlimited tax improvement bonds, according to a pricing sheet.
The bonds (Aa2/AA-/) were sold competitively. The district did not return calls for the winning bidder Tuesday.
The bonds are due 2014 to 2033 with 2.5% to 5% coupons.
Proceeds will be used to construct drainage improvements and acquire rights of way.
| Issuer: | Hidalgo County Drainage District No. 1, Texas
|
| Issue: | Series 2013 unlimited tax improvement bonds
|
| Amount: | $84 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| Pricing date: | March 5
|
| Settlement date: | March 12
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.15 million | 2014 | Serial | 3% | 103.734
|
| $3.29 million | 2015 | Serial | 4% | 108.361
|
| $3.39 million | 2016 | Serial | 5% | 114.48
|
| $3.49 million | 2017 | Serial | 5% | 117.892
|
| $3,595,000 | 2018 | Serial | 5% | 120.383
|
| $3,705,000 | 2019 | Serial | 5% | 122.352
|
| $3.82 million | 2020 | Serial | 5% | 123.6
|
| $3,935,000 | 2021 | Serial | 5% | 124.702
|
| $4,055,000 | 2022 | Serial | 5% | 125.526
|
| $4,175,000 | 2023 | Serial | 5% | 126.037
|
| $4,305,000 | 2024 | Serial | 5% | 124.455
|
| $4,435,000 | 2025 | Serial | 5% | 123.414
|
| $4,565,000 | 2026 | Serial | 2.5% | 97.21
|
| $4,705,000 | 2027 | Serial | 3% | 99.534
|
| $4.85 million | 2028 | Serial | 3.125% | 99.452
|
| $4,995,000 | 2029 | Serial | 3.125% | 98.668
|
| $5,145,000 | 2030 | Serial | 3.25% | 99.602
|
| $5.3 million | 2031 | Serial | 3.25% | 98.903
|
| $5,465,000 | 2032 | Serial | 3.25% | 98.158
|
| $5.63 million | 2033 | Serial | 3.25% | 97.514
|
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