Oregon to price $60.16 million lottery revenue bonds May 19 week

By Cristal Cody

Springdale, Ark., May 16 - The Oregon Department of Administrative Services intends to price $60.155 million state lottery revenue bonds the week of May 19, the issuer said Friday.

The $46.12 million tax-exempt series 2008A and $14.035 million taxable series 2008B bonds probably will sell first in a retail order period and price on Wednesday or Thursday, said Larry Groth, assistant director for the state's debt division.

The series 2008A bonds have serial maturities from 2014 through 2028. The series 2008B bonds have maturities from 2009 through 2014.

Citigroup Global Markets is the senior manager of the negotiated sale. Co-managers are Banc of America Securities LLC, Fidelity Capital Markets Services, Goldman, Sachs & Co., Merrill Lynch & Co., Ramirez & Co. and Wachovia Bank.

Proceeds will be used to make grants for and pay a portion of the costs of projects, including the creation through construction and acquisition of 150 units for housing for the homeless; the cost to build digital transmission facilities for Oregon Public Broadcasting; a study and engineering work to widen and deepen the shipping channel at the Port of Coos Bay and deferred building maintenance on seven Oregon University campuses.

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