Michigan preps $150 million sale of G.O. school loan bonds

By Sheri Kasprzak

New York, April 6 - The State of Michigan is expected to sell $150 million of series 2011A taxable general obligation school loan bonds on April 14, said a preliminary official statement.

The bonds (Aa2/AA-) will be sold competitively with Robert W. Baird & Co. Inc. as the financial adviser.

The bonds are due 2014 to 2023.

Proceeds will be lent to local school districts to fund capital improvements.

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