Marco Island, Fla., arranges $60.34 million utility system bonds sale

By Sheri Kasprzak

New York, Aug. 26 - The City of Marco Island, Fla., is expected to price $60.34 million of series 2013 utility system revenue refunding bonds during the week of Aug. 26, according to a preliminary official statement and sales calendar.

The bonds (Aa3//AA-) will be sold on a negotiated basis with BofA Merrill Lynch as the senior manager and Citigroup Global Markets Inc. and RBC Capital Markets LLC as the co-managers.

The bonds are due 2015 to 2033.

Proceeds will be used to refund existing utility system debt.

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