Newport News, Va., to sell $65.37 million of G.O. bonds on July 12

By Sheri Kasprzak

New York, July 5 - The City of Newport News, Va., is preparing to offer $65.365 million of series 2011 general obligation general improvement and G.O. general improvement refunding bonds, said a preliminary official statement. Pricing is scheduled for July 12.

The sale includes $46 million of series 2011A G.O. bonds and $23.365 million of series 2011B G.O. general improvement refunding bonds and G.O. water refunding bonds.

The bonds (Aa1/AA/) will be sold competitively with Public Financial Management Inc. as the financial adviser.

The 2011A bonds are due 2012 to 2031 and the 2011B bonds are due 2012 to 2022.

Proceeds will be used to finance various capital improvements throughout the city, as well as refund the city's series 2001A G.O. bonds, 2001C G.O. bonds, 2002A G.O. bonds, 2002A G.O. water bonds, 2003B G.O. bonds, 2003B G.O. water bonds, 2004A G.O. bonds and 2004D G.O. bonds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.