North Sumter County Utility, Fla., plans $179.54 million revenue bonds

By Sheri Kasprzak

New York, Nov. 22 - The North Sumter County Utility Dependent District of Florida is set to sell $179.535 million of series 2010 utility revenue bonds, according to a preliminary official statement.

The sale includes $157.045 million of series 2010 revenue bonds and $22.49 million of series 2010 subordinate revenue bonds.

The bonds (//A-) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the underwriter.

The 2010 revenue bonds are due 2011 to 2022 with term bonds due 2030 and 2043. The subordinate bonds are due 2011 to 2022 with term bonds due 2030 and 2043.

Proceeds will be used to acquire two existing private utility systems.

Based in the Villages, Fla., the district is an electric power utility serving portions of Sumter County.

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