Nassau County, N.Y., prepares $389.89 million of G.O. bonds and notes

By Sheri Kasprzak

New York, May 12 – Nassau County, N.Y., is set to price $389,895,000 of series 2015 general obligation general improvement bonds, bond anticipation notes and revenue anticipation notes on May 20, according to a preliminary official statement.

The deal includes $168,895,000 of series 2015B G.O. bonds, $41 million of series 2015C taxable BANs and $180 million of series 2015A RANs.

The G.O. bonds are due 2017 to 2035. The BANs are due Dec. 15, 2016, and the RANs are due March 15, 2016.

The bonds will be sold competitively with Public Financial Management Inc. as the financial adviser. The notes will be sold on a negotiated basis with BofA Merrill Lynch and Ramirez & Co. Inc. as the senior managers.

Proceeds will be used to finance capital projects, including employment separation payments, Superstorm Sandy relief payments and tax certiorari payments.

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