North Fort Bend, Texas, to sell $78.29 million of water revenue bonds

By Sheri Kasprzak

New York, Oct. 24 - The North Fort Bend Water Authority of Texas is slated to sell $78.29 million of series 2011 water system revenue bonds on Wednesday, according to a preliminary official statement.

The bonds (/A-/A+) will be sold on a negotiated basis with RBC Capital Markets LLC as the senior manager. The co-managers are Coastal Securities Inc., GMS Securities LLC, Morgan Keegan & Co. Inc. and Southwest Securities Corp.

The bonds are due 2014 to 2036.

Proceeds will be used to finance the acquisition of realty interest and alternate water supply sources; design, construct and acquire system improvements, including pumping station, storage, supply, treatment and transmission line facilities to transmit purchased surface water from Houston to certain retail utilities and users; and make a deposit to a debt service reserve fund.

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