Minnesota intends to price $865 million offering of G.O. bonds

By Cristal Cody

Tupelo, Miss., July 15 - The State of Minnesota intends to price $865 million in general obligation state bonds, according to a notice of sale.

The sale includes $635 million of series 2010A state various purpose bonds, $225 million of series 2010B state trunk highway bonds and $5 million of series 2010C taxable state bonds.

The series 2010A and 2010B bonds have serial maturities from 2011 through 2030. The series 2010C bonds are due Aug. 1, 2015.

The bonds will price through a competitive sale on Aug. 3, according to the notice.

Public Resources Advisory Group is the financial adviser.

Proceeds will be used to finance programs and capital projects, including educational facilities and parks, the state trunk highway system and to develop the state's agricultural resources by financing the Rural Finance Authority's programs.

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