Howard County, Md., set to price $193.83 million of G.O. bonds Tuesday

By Sheri Kasprzak

New York, Oct. 24 - Howard County in Maryland is scheduled to bring to market $193.83 million of series 2011 general obligation bonds on Tuesday, according to a preliminary official statement.

The offering includes $160.15 million of series 2011B consolidated public improvement project and refunding bonds and $33.68 million of series 2011B metropolitan district project and refunding bonds.

The bonds (Aaa/AAA/AAA) will be sold on a competitive basis with Public Financial Management Inc. as the financial adviser.

The 2011B consolidated public improvement bonds are due 2012 to 2031 and the 2011B metropolitan district project bonds are due 2012 to 2041.

Proceeds will be used to repay the county's series 2011 commercial paper notes, which were issued to construct various capital improvements, including school, sidewalk, roads, police and public safety, community college, and parks and recreation projects. Proceeds will also be used to refund the county's series 2002, 2003 and 2005 bonds, which were issued to complete water and sewer improvement projects.

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