Minnesota prepares $658.5 million sale of G.O. bonds for Aug. 7

By Sheri Kasprzak

New York, July 25 - The State of Minnesota plans to come to market on Aug. 7 with $658.5 million of series 2012 general obligation state bonds, according to a preliminary official statement.

The deal includes $422 million of series 2012A G.O. state various purpose G.O. bonds, $234 million of series 2012B state trunk highway G.O. bonds and $2.5 million of series 2012C taxable state G.O. bonds.

The bonds will be sold competitively with Public Resources Advisory Group LLC as the financial adviser.

The 2012A bonds are due 2013 to 2032, and the 2012B bonds are due 2013 to 2032. The 2012C bonds are due Aug. 1, 2017.

Proceeds will be used to finance all or a portion of the cost of certain programs and capital projects, including educational facilities, parks, pollution control facilities, transportation, natural resources and agricultural enterprises, as well as the construction, improvement and maintenance of state trunk highway system projects and agricultural projects of the Rural Finance Authority.

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