Palm Beach County School Board, Fla., to sell $111.44 million COPs

By Sheri Kasprzak

New York, June 9 - The School Board of Palm Beach County, Fla., is expected to price $111.435 million of series 2011A certificates of participation, according to a preliminary official statement.

The COPs (Aa3//AA-) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager. The co-managers are Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC.

The certificates are due 2019 to 2025 with a term bond due in 2032.

Proceeds will be used to refund the school board's series 2007B certificates.

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