Pennsylvania expects to sell $1 billion TANs on Tuesday

By Cristal Cody

Tupelo, Miss., Sept. 29 - The Commonwealth of Pennsylvania expects to sell $1 billion in tax anticipation notes, according to a preliminary official statement.

The first series 2010-2011 notes are due June 30, 2011.

The notes will price through a competitive sale on Tuesday.

Public Financial Management, Inc. is the financial adviser.

Proceeds will be used to provide cash to the general fund to make payroll payments and other operating costs.

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