New Issue: Hollywood, Fla., prices $52.345 million of water and sewer bonds

By Sheri Kasprzak

New York, Jan. 22 - The City of Hollywood in Florida priced $52.345 million of series 2010 water and sewer improvement revenue bonds (A1//A-), said a pricing sheet.

The sale included $4.185 million of series 2010A revenue and $48.16 million of series 2010B Build America Bonds.

The 2010A bonds are due 2011 to 2014 with coupons from 2% to 3%. The 2010B bonds are due 2015 to 2022 with coupons from 4.687% to 6.056%, all priced at par. The 2010B bonds also have term bonds due 2029 and 2039. The 2029 bonds have a 7.048% coupon and priced at par, and the 2039 bonds have a 7.198% coupon and priced at par.

Bank of America Merrill Lynch was the senior manager. The co-manager was RBC Capital Markets Corp.

Proceeds will be used to fund improvements to the city's water and sewer system.

Issuer:	City of Hollywood, Fla.
Issue:	Series 2010 water and sewer improvement revenue bonds
Amount:	$52.345 million
Type:	Negotiated
Underwriters:	Bank of America Merrill Lynch (lead); RBC Capital Markets Corp. (co-manager)
Ratings:	Moody's: A1
	Fitch: A-
Pricing date:	Jan. 20
Series 2010A
Maturity	Type	Coupon	Price
2011	Serial	2%	101.524
2012	Serial	2.5%	102.454
2013	Serial	3%	103.635
2014	Serial	3%	102.593
Series 2010B
Maturity	Type	Coupon	Price
2015	Serial	4.687%	100
2016	Serial	5.087%	100
2017	Serial	5.406%	100
2018	Serial	5.506%	100
2019	Serial	5.606%	100
2020	Serial	5.706%	100
2021	Serial	5.956%	100
2022	Serial	6.056%	100
2029	Term	7.048%	100
2039	Term	7.198%	100

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