Miami to price $51.055 million in ad valorem tax bonds on Tuesday

By Sheri Kasprzak

New York, May 15 - The City of Miami is set to price $51.055 million in series 2009 limited ad valorem tax bonds (A3/A/A-) on Tuesday, said a calendar of deals.

The bonds will be sold on a negotiated basis with Merrill Lynch & Co. Inc., J.P. Morgan Securities Inc., SunTrust Capital Markets Inc., Raymond James & Associates Inc., Banc of America Securities LLC as the underwriters.

The proceeds will be used to fund police, parks and utility training and equipment.

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