Minnesota plans $465.7 million sale of general obligation bonds for Tuesday

By Sheri Kasprzak

New York, July 21 - The state of Minnesota intends to price $465.7 million in series 2008 general obligation bonds on Tuesday, according to a calendar of upcoming offerings.

The bonds (//AAA) will be sold on a competitive basis.

The sale includes $275 million in series 2008A various purpose G.O. bonds, $33.5 million in state trunk highway G.O. bonds and $157.2 million in series 2008C G.O. refunding bonds. The 2008A and 2008B bonds are due 2009 to 2028 and the 2008C bonds are due 2009 to 2019.

Proceeds from the sale will be used for capital projects throughout the state, including educational facilities, pollution control facilities, transportation projects and natural resources enterprises. Some proceeds will also be used for construction on the state's trunk highway system. The proceeds from the 2008C bonds will be used to refund the state's series 1999 and 2000 general obligation bonds.

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