Iowa plans to price $178.9 million special obligation bonds Tuesday

By Sheri Kasprzak

New York, Sept. 27 - The State of Iowa is expected to bring to market $178.9 million in series 2010 I-Jobs program special obligation bonds on Tuesday, according to a sales calendar.

The bonds (Aa2/AA/) will be sold through Bank of America Merrill Lynch.

Proceeds will be used to fund disaster recovery and prevention projects, as well as public infrastructure projects throughout the state. The proceeds also will be used to fund the debt service reserve on the state's series 2009B I-Jobs Build America Bonds.

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