Orange County schools postpones $86.58 million variable rate refunding COPSs indefinitely

By Cristal Cody

Springdale, Ark., Feb. 20 - Orange County School Board in Florida indefinitely postponed the sale of $86.58 million variable-rate refunding certificates of participation, the issuer said Wednesday in an interview with Prospect News.

The district had planned to price the series 2008A certificates (A1) in a negotiated sale by Citigroup Global Markets on Wednesday.

The district already has variable-rate issues outstanding and decided to wait until the market stabilizes, said Steve Compton, senior administrator of the district's treasury services.

Proceeds would have been used to refund $80.4 million in 2002A certificates.

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