Iredell County, N.C., to price $108.66 million COPs on Feb. 27

By Sheri Kasprzak

New York, Feb. 25 - Iredell County in North Carolina intends to price $108.66 million in series 2008 certificates of participation (COPs) on Feb. 27.

The bonds (A1/AA-) will be sold on a negotiated basis through Citigroup Global Markets and Wachovia Securities, said Susan Blumenstein, chief financial officer for the county, in an interview.

The fixed-rate bonds have a serial structure from 2010 to 2028.

FSA is the insurer.

The county will use the proceeds to expand the Celeste Henkel, East Iredell, South Iredell, Shepherd and Statesville elementary schools; to construct the Coddle Creek, Cloverleaf and Rocky River Road elementary schools; for the conversion of the Mooresville school into a middle school; and to acquire a tract of land for a solid-waste disposal facility.

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