Ohio Building Authority to sell $170.32 million in bonds on Wednesday

By Sheri Kasprzak

New York, Aug. 27 - The state of Ohio plans to bring to market $170.32 million in series 2009 state facilities refunding bonds for the Ohio Building Authority on Wednesday, according to a sales calendar.

The deal includes $80.03 million in series 2009B administrative building bonds, $72.205 million in series 2009B adult correctional facilities bonds and $16.085 million in series 2009B juvenile correction facilities bonds.

The administrative building bonds are due 2010 to 2024. The adult correctional facilities bonds are due 2010 to 2024 and the juvenile correctional facilities bonds are due 2013 to 2024.

Proceeds from the administrative building bonds will be used to refund bonds issued to construct the state Department of Administrative Services' capital facilities.

The proceeds from the adult correction building bonds will be used to refund bonds issued to construct a new prison and various improvements to existing correctional facilities.

The proceeds from the juvenile correction building bonds will be used to refund bonds issued to construct facilities for the Department of Youth Services, including a new juvenile correctional building.

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