New Issue: Midlothian ISD, Texas, prices $56.08 million refunding bonds

By Sheri Kasprzak

New York, May 2 - The Midlothian Independent School District of Texas sold $56,075,000 of series 2013A tax-exempt refunding bonds, according to a pricing sheet.

The bonds (A1) were sold through senior manager First Southwest Co.

The bonds are due 2019 to 2033 with term bonds due in 2013 and 2036. The serial coupons range from 3% to 5%. The 2013 bonds have 2% coupon priced at 100.369, and the 2036 bonds have a 4% coupon priced at 107.493.

Proceeds will be used to refund the district's series 2005 and 2006 unlimited tax school building bonds.

Issuer:	Midlothian Independent School District
Issue:	Series 2013A tax-exempt refunding bonds
Amount:	$56,075,000
Type:	Negotiated
Underwriters:	First Southwest Co. (lead), Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers)
Rating:	Moody's: A1
Pricing date:	May 2
Settlement date:	May 23
Amount	Maturity	Type	Coupon	Price
$825,000	2013	Term	2%	100.369
$2.4 million	2019	Serial	5%	121.529
$2,625,000	2020	Serial	5%	123.558
$2.72 million	2021	Serial	5%	124.982
$2,895,000	2022	Serial	5%	126.427
$965,000	2023	Serial	3%	109.897
$995,000	2024	Serial	3%	108.969
$1,495,000	2025	Serial	5%	125.353
$3.6 million	2026	Serial	5%	124.161
$3.47 million	2027	Serial	5%	122.983
$1,705,000	2028	Serial	5%	122.496
$1.69 million	2029	Serial	5%	121.722
$1,775,000	2030	Serial	5%	121.145
$4,675,000	2031	Serial	5%	120.571
$4,915,000	2032	Serial	5%	120.096
$5,165,000	2033	Serial	5%	119.622
$14.16 million	2036	Term	4%	107.493

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