McAllen, Texas, organizes $55.98 million G.O.s and certificates sale

By Sheri Kasprzak

New York, Feb. 18 - The City of McAllen, Texas, is expected to come to market with $55,975,000 of series 2014 general obligation bonds and combination tax and revenue certificates of obligation on Feb. 24, according to a notice of sale.

The offering includes $43.91 million of series 2014 G.O. bonds and $12,065,000 of series 2014 certificates of obligation.

The bonds will be sold competitively with First Southwest Co. as the financial adviser.

Both the G.O.s and the certificates are due 2015 to 2033.

Proceeds will be used to construct sidewalk, street and drainage improvements; to construct and equip a performing arts center at the city's convention center; and to acquire land for parks and recreation purposes.

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