Pasadena, Texas, school district plans $74.22 million sale of bonds

By Sheri Kasprzak

New York, Jan. 19 - The Pasadena Independent School District of Texas plans to bring to market $74,215,000 of series 2012 unlimited tax school building and refunding bonds, according to a preliminary official statement.

The deal includes $61.29 million of series 2012A school building bonds and $13,425,000 of series 2012B refunding bonds.

The bonds (Aa2/AA) will be sold on a negotiated basis with Wells Fargo Securities LLC as the senior manager. The co-managers are Raymond James & Associates Inc., Crews & Associates Inc., Jefferies & Co., Edward D. Jones & Co. LP and Southwest Securities Inc.

The 2012A bonds are due 2013 to 2041, and the 2012B bonds are due 2013 to 2021.

Proceeds will be used to acquire, construct, renovate and equip school facilities in the district, as well as to refund a portion of the district's series 2005 unlimited tax school building and refunding bonds.

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