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North Texas Municipal Water preps $155.85 million water bond offering
By Sheri Kasprzak
New York, July 7 – The North Texas Municipal Water District plans to price $155,845,000 of water system revenue refunding and improvement bonds, according to a preliminary official statement.
The bonds (Aa2/AAA/) will be sold on a negotiated basis with BofA Merrill Lynch as the lead manager. The co-managers are Citigroup Global Markets Inc. and RBC Capital Markets LLC.
The bonds are due 2015 to 2034.
Proceeds will be used to improve the district’s water system through the acquisition of property and design of the dam for Lower Bois d’Arc Creek Reservoir, the construction of Wylie Water Treatment Plant II Filter Underdrain improvements, construction of the Shiloh Pump Station Improvements and other related system improvements, as well as to refund existing debt.
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