Lee County, Fla., organizes $94.09 million water, sewer revenue bonds

By Sheri Kasprzak

New York, July 11 - Lee County, Fla., plans to price $94,085,000 of series 2013 water and sewer revenue bonds, according to a preliminary official statement.

The offering includes $53,925,000 of series 2013A bonds and $40.16 million of series 2013B bonds.

The bonds (Aa3/AA+/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the lead manager and Morgan Stanley & Co. LLC and Raymond James/Morgan Keegan.

The 2013A bonds are due 2014 to 2033 with term bonds due in 2038 and 2043. The 2013B bonds are due 2014 to 2027.

Proceeds will be used to finance capital improvements to the county's water and sewer systems, as well as to refund the county's series 2003A revenue bonds.

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