Maryland plans to bring $803.37 million in G.O. bonds on Wednesday

By Sheri Kasprzak

New York, Oct. 19 - Maryland plans to price $803.37 million in series 2009 state and local facilities loan general obligation bonds on Wednesday, according to a preliminary official statement.

The bonds (Aaa/AAA/AAA) will be sold on a competitive basis with Public Financial Management Inc. as the financial adviser.

The sale includes $141.8 million in series 2009A bonds, $58.2 million in series 2009B and $603.37 million in series 2009C refunding bonds. The 2009B bonds may be sold as either tax-exempt bonds or as Build America Bonds.

The 2009A bonds are due 2012 to 2021 and the2009B bonds are due 2022 to2024. The 2009C bonds are due 2015 to 2023.

Proceeds will be used to fund state and local facilities, to make capital grants for local governments for public schools, community colleges and jails and to refund existing debt.

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