Arlington ISD, Texas, to price $51.74 million of school bonds

By Sheri Kasprzak

New York, April 28 - The Arlington Independent School District of Texas plans to bring to market $51,740,884 of series 2011A unlimited tax school building bonds, according to a preliminary official statement.

The bonds (Aa1/AAA/AA/AAA/) will be sold on a negotiated basis with Southwest Securities Inc. as the senior manager. The co-managers are Estrada Hinojosa & Co. Inc., Morgan Keegan & Co. Inc., RBC Capital Markets LLC, J.P. Morgan Securities LLC and Piper Jaffray & Co.

The offering includes $40.16 million of current interest bonds and $11,580,884 of capital appreciation bonds. The current interest bonds are due 2012 to 2036, and the capital appreciation bonds are due 2017 to 2023.

Proceeds will be used to construct, equip and renovate school buildings.

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