Irving, Texas, to sell $130 million in certificates of obligation

By Sheri Kasprzak

New York, Jan. 9 - Irving, Texas, plans to price $130 million in series 2009 combination tax and hotel occupancy tax revenue certificates of obligation, according to a preliminary official statement released Friday.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Estrada Hinojosa & Co. as the senior managers.

The co-managers are Banc of America Securities LLC, Morgan Keegan & Co., Oppenheimer & Co. Inc., RBC Capital Markets Corp. and Wells Fargo Brokerage Services.

The certificates are due 2013 to 2038.

Proceeds will be used to build, equip and furnish the City of Irving Convention Center and to make a deposit to a debt service reserve fund.

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