Philadelphia to sell $100 million tax and revenue anticipation notes

By Cristal Cody

Tupelo, Miss., Nov. 25 - The City of Philadelphia plans to price $100 million of tax and revenue anticipation notes (MIG1/SP-1+/), according to a preliminary official statement.

The series 2013-2014A notes are due June 30, 2014.

The notes will price through a competitive offering on Dec. 3, according to an official notice of sale.

Public Financial Management, Inc. and Acacia Financial Group, Inc. are co-financial advisers.

Proceeds will be used to provide cash to supplement the receipts of the city in the general fund.

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