Minnesota plans $470.21 million general obligation bond offering

By Cristal Cody

Tupelo, Miss., July 18 - The State of Minnesota intends to price $470,205,000 of general obligation state bonds through a competitive sale on Aug. 6, according to a preliminary official statement.

The deal includes $265,205,000 of series 2013A various purpose bonds, $200 million of series 2013B trunk highway bonds and $5 million of series 2013C taxable state bonds.

The series 2013A and 2013B bonds have serial maturities from 2014 through 2033.

The series 2013C bonds are due Aug. 1, 2018.

Public Resources Advisory Group is the financial adviser.

Proceeds will be used to finance capital projects and state highway construction and to develop the state's agricultural resources by financing Rural Finance Authority programs.

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