Pembroke Pines, Fla., to sell $64.27 million in charter school revenue bonds

By Sheri Kasprzak

New York, March 18 - The City of Pembroke Pines in Florida plans to sell $64.27 million in series 2008 charter school revenue bonds, according to a preliminary official statement released Tuesday.

The exact pricing date could not be determined by press time Tuesday.

The bonds (Aaa/AAA) will be sold on a negotiated basis through lead manager RBC Capital Markets.

The term bonds are due 2032 and 2038 and are insured by Assured Guaranty.

The interest rate is expected to reset on a weekly basis.

The proceeds will be used to finance or refinance the construction, acquisition and equipment of existing charter school buildings, as well as to refund the city's 2001A and 2001B charter school revenue bonds.

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