Pennsylvania to sell $616.86 million general obligation bonds May 19

By Sheri Kasprzak

New York, May 8 - Pennsylvania is scheduled to price $616.86 million in series 2009 general obligation bonds on May 19, according to a preliminary official statement.

The sale includes $464 million in second series bonds and $152.86 million in first refunding series bonds.

The bonds will be sold competitively with Public Financial Management Inc. as the financial adviser.

The second series bonds are due 2010 to 2029 and the first refunding bonds are due 2009 to 2014.

Proceeds will be used to fund capital improvements, as well as to protect open space, farmlands and watershed areas.

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