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Maine to sell $50 million bonds for transportation department Aug. 26
By Cristal Cody
Springdale, Ark., Aug. 18 - The Maine Municipal Bond Bank expects to price $50 million grant anticipation bonds for the Maine Department of Transportation on Aug. 26, a source said Monday.
The series 2008A bonds (Aa3//AA-) also will be sold in a two-day retail order period that starts Friday.
The bonds have serial maturities from 2009 through 2020.
Citigroup Global Markets is the senior manager and Wachovia Bank, NA is the co-manager of the negotiated sale.
Proceeds will be used to help pay for three highway reconstruction projects and 12 bridge projects.
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