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

By Sheri Kasprzak

New York, Jan. 12 - Irving, Texas, is set to sell $130 million in series 2009 combination tax and hotel occupancy tax revenue certificates of obligation, according to a calendar of offerings.

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 construct, equip and furnish the city's convention center, as well as to make a deposit to the debt service reserve fund.

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