Newport News, Va., expects to price $58.515 million general obligation improvement and water bonds

By Cristal Cody

Springdale, Ark., March 17 - Newport News, Va., intends to price $58.515 million bonds on March 26, according to a preliminary official statement released Monday.

The city plans to sell $33.135 million series 2008 A general obligation general improvement bonds and $25.38 million series 2008 B general obligation water bonds.

The bonds (Aa2/AA/-) will price competitively.

Series 2008 A bonds have serial maturities from 2011 through 2028. Series 2008 B bonds have maturities from 2009 through 2028.

Public Financial Management is the financial advisor.

Proceeds will be used for improvement projects for public buildings, schools, streets, parks and extensions to the city's water system.

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