Published on 2/24/2009 in the Prospect News Municipals Daily.
New Issue: Onondaga County, N.Y., prices $61.73 million G.O.s at 3.56% TIC
By Aaron Hochman-Zimmerman
New York, Feb. 24 - Onondaga County in New York priced $61.725 million series 2009A general obligation bonds (Aa2/AA+/AA+), according to county financial analyst Joan Ferrara.
Wachovia won the auction with a bid of 3.56% TIC.
Fiscal Advisors and Marketing Inc. and Government Finance Associates Inc. acted as financial advisers to the bonds due from 2011 to 2029.
The bonds due 2020, 2021, 2022 and 2024 are callable on March 1, 2019.
Proceeds from the sale will be used to renovate courthouses, construct zoos and hotels, purchase radios and radio infrastructure and build parks.
The Onondaga County seat is located in Syracuse, N.Y.
Issuer: Onondaga County
Issue: Series 2009A general obligation bonds
| Amount: | $61.725 million
|
| Maturities: | 2011 to 2029
|
| TIC: | 3.56%
|
| Type: | Competitive
|
| Bookrunner: | Wachovia
|
| Pricing date: | Feb. 24
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Fitch: AA+
|
|
|
| Series 2009A serial bonds
|
| Maturity | Amount | Coupon | Yield | Price
|
| March 1, 2011 | $4.050 million | 4.000% | 1.45% | 104.981
|
| March 1, 2012 | $4.075 million | 4.000% | 1.75% | 106.524
|
| March 1, 2013 | $4.150 million | 4.000% | 1.91% | 107.990
|
| March 1, 2014 | $4.450 million | 4.000% | 2.23% | 108.312
|
| March 1, 2015 | $4.050 million | 3.000% | 2.42% | 103.215
|
| March 1, 2016 | $4.400 million | 5.000% | 2.61% | 115.178
|
| March 1, 2017 | $4.675 million | 5.000% | 2.83% | 115.418
|
| March 1, 2018 | $4.875 million | 4.000% | 3.04% | 107.500
|
| March 1, 2019 | $4.925 million | 4.000% | 3.28% | 106.090
|
| March 1, 2020 | $2.900 million | 5.000% | 3.47% | 112.822
|
| March 1, 2021 | $2.900 million | 5.000% | 3.70% | 110.773
|
| March 1, 2022 | $2.975 million | 5.000% | 3.88% | 109.201
|
| March 1, 2023 | $3.050 million | 4.000% | 4.10% | 98.942
|
| March 1, 2024 | $3.050 million | 5.000% | 4.29% | 105.718
|
| March 1, 2025 | $1.550 million | 4.250% | 4.36% | 98.742
|
| March 1, 2026 | $1.550 million | 4.375% | 4.46% | 98.994
|
| March 1, 2027 | $1.550 million | 4.375% | 4.56% | 97.745
|
| March 1, 2028 | $1.375 million | 4.500% | 4.65% | 98.121
|
| March 1, 2029 | $1.175 million | 4.500% | 4.72% | 97.172
|
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