Honolulu plans to sell $276.99 million revenue bonds, BABs on Tuesday

By Sheri Kasprzak

New York, Sept. 10 - The City and County of Honolulu is expected to bring to market $276.985 million in series 2009 wastewater system revenue bonds, according to a preliminary statement.

The negotiated deal is being led by Merrill Lynch & Co. Inc. and Piper Jaffray & Co.

The sale includes $67.55 million series 2009A first bond resolution bonds, $51.875 million series 2009B first bond resolution Build America Bonds, $29.43 million in series 2009C first bond resolution recovery zone economic development bonds and $128.13 million in series 2009A second bond resolution bonds.

The 2009A first resolution bonds are due 2010 to 2028 and the 2009B first resolution bonds are due 2029 and 2035. The 2009C bonds are due 2039 and the 2009A second resolution bonds are due 2010 to 2023.

Proceeds will be used to fund improvements to the city and county's wastewater system.

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