Orange County, Calif., preps $150 million series 2011-12 TRANs sale

By Sheri Kasprzak

New York, May 25 - Orange County, Calif., is set to sell $150 million of series 2011-12 tax and revenue anticipation notes, said a preliminary official statement.

The notes (MIG 1/SP-1+) will be sold on a negotiated basis with De La Rosa & Co.

The notes are due March 15, 2012, May 15, 2012 and June 29, 2012.

Proceeds from the sale will be used to finance cash flow requirements during the 2011-12 fiscal year ahead of the collection of certain taxes and revenues.

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