Midway I.S.D., Texas, to price $55.782 million bonds in July, $25 million in August

By Cristal Cody

Springdale, Ark., July 8 - The Midway Independent School District in Texas expects to price $55.782 million building and refunding bonds on July 15, said Gary Faunce, assistant superintendent of finance.

The district also plans to price $25 million in bonds on Aug. 5.

The $55.782 million series 2008 bonds (Aaa/AAA/) will price as current interest and premium capital appreciation bonds.

The $53.94 million current interest bonds have serial maturities from 2009 through 2012 and 2016 through 2026.

The $1.842 million premium capital appreciation bonds have maturities from 2013 through 2015.

Merrill Lynch & Co. is the senior manager of the negotiated sale. Co-managers are First Southwest Co., Morgan Stanley and Edward Jones.

Proceeds will be used to acquire, construct, renovate and equip school buildings and school sites and refund $4.98 million of the outstanding $6.07 million from the series 1997 refunding bonds on Aug. 15.

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