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Huntsville, Ala., organizes $70.99 million general obligation warrants
By Sheri Kasprzak
New York, Aug. 5 – The City of Huntsville, Ala., plans to price $70.99 million of series 2014 general obligation warrants, according to a preliminary official statement.
The deal includes $39,875,000 of series 2014A G.O. refunding warrants, $18.68 million of series 2014B G.O. lease refunding and capital improvement warrants and $12,435,000 of series 2014C G.O. school refunding and capital improvement warrants.
The warrants (Aaa/AAA/) will be sold on a negotiated basis with Raymond James/Morgan Keegan as the senior manager. The co-managers are Morgan Stanley & Co. LLC, Joe Jolly & Co. Inc. and Securities Capital Corp.
The series 2014A warrants are due 2015 to 2037, and the 2014B warrants are due 2015 to 2033. The 2014C bonds are due 2021 to 2024.
Proceeds will be used to refund the city’s series 2005C, 2007A and 2009A-B G.O. warrants.
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