New Issue: Miami Gardens, Fla., prices $60 million general obligation bonds

By Sheri Kasprzak

New York, June 25 – The City of Miami Gardens, Fla., sold $60 million of series 2014 general obligation bonds, according to a pricing sheet.

The bonds (A1/A+/) were sold through Loop Capital Markets LLC.

The bonds are due 2015 to 2034 with a term bond due in 2039. The serial coupons range from 2% to 5%. The 2039 bonds have a 5% coupon priced at 107.89.

Proceeds will be used to remodel, improve, expand and renovate the city’s parks, as well as to acquire property for the parks system.

Issuer:	City of Miami Gardens, Fla.
Issue:	Series 2014 general obligation bonds
Amount:	$60 million
Type:	Negotiated
Underwriter:	Loop Capital Markets LLC (lead)
Ratings:	Moody’s: A1
	Standard & Poor’s: A+
Pricing date:	June 25
Settlement date:	July 16
Amount	Maturity	Type	Coupon	Price
$1,385,000	2015	Serial	3%	102.581
$1,475,000	2016	Serial	4%	106.791
$1.5 million	2017	Serial	3%	106.207
$1,545,000	2018	Serial	2%	102.731
$1,595,000	2019	Serial	4%	111.244
$1.66 million	2020	Serial	5%	116.954
$1,725,000	2021	Serial	3%	104.542
$1,795,000	2022	Serial	5%	117.23
$1,875,000	2023	Serial	5%	116.977
$1,955,000	2024	Serial	5%	117.011
$2.04 million	2025	Serial	5%	115.429
$2,135,000	2026	Serial	5%	114.51
$2.23 million	2027	Serial	5%	113.69
$2,335,000	2028	Serial	5%	112.878
$2,445,000	2029	Serial	5%	112.161
$2.57 million	2030	Serial	5%	111.45
$2,695,000	2031	Serial	5%	110.832
$2.83 million	2032	Serial	5%	110.306
$2,975,000	2033	Serial	5%	109.783
$3.12 million	2034	Serial	5%	109.349
$18,115,000	2039	Term	5%	107.89

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