By Cristal Cody
Springdale, Ark., Aug. 19 - The Arizona School District priced $115 million certificates of participation with a 3% coupon to yield 1.63%, according to an official statement.
The series 2008 tax anticipation note financing program certificates (MIG1/SP-1+/) are due July 30, 2009.
The certificates were sold in a negotiated sale managed by Piper Jaffray.
Proceeds will be used for general expenditures during the fiscal year at school districts that include Cave Creek Unified School District No. 93, Chandler Unified School District No. 80, Deer Valley Unified School District No. 97, Gilbert Unified School District No. 41, Higley Unified School District No. 60, Madison Elementary School District No. 69, Pendergast Elementary School District No. 92 and Peoria Unified School District No. 11.
| Issuer: | Arizona School District
|
| Issue: | Certificates of participation
|
| Amount: | $115 million
|
| Type: | Negotiated
|
| Coupon: | 3%
|
| Yield: | 1.63%
|
| Maturity: | July 30, 2009
|
| Underwriter: | Piper Jaffray
|
| Ratings: | Moody's: MIG1
|
| Standard & Poor's: SP-1+
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 20
|
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