Published on 12/17/2010 in the Prospect News Municipals Daily.
New Issue: Polk County, Iowa, sells $104.82 million G.O., refunding bonds
By Sheri Kasprzak
New York, Dec. 17 - Polk County, Iowa, sold $104.82 million of series 2010 general obligation and G.O. refunding bonds, according to a pricing sheet.
The bonds (Aaa//AAA) were sold competitively.
The sale included $46.885 million of series 2010A G.O. refunding bonds, $42.45 million of series 2010B G.O. bonds and $15.485 million of series 2010C G.O. bonds.
The 2010A bonds are due 2011 to 2021 with 2% to 5% coupons. The 2010B bonds are due 2012 to 2023 with coupons from 2% to 4%. The 2010C bonds are due 2011 to 2025 with 2% to 4% coupons.
Proceeds will be used to fund capital improvements and refund the county's series 2002A bonds.
| Issuer: | Polk County, Iowa
|
| Issue: | Series 2010 general obligation and G.O. refunding bonds
|
| Amount: | $104.82 million
|
| Type: | Competitive
|
| Ratings: | Moody's: Aaa
|
| Fitch: AAA
|
| Pricing date: | Dec. 15
|
| Settlement date: | Dec. 30
|
|
|
| $46.885 million series 2010A
|
| Amount | Maturity | Type | Coupon | Price
|
| $3.145 million | 2011 | Serial | 2% | 100.669
|
| $510,000 | 2012 | Serial | 3% | 102.983
|
| $440,000 | 2013 | Serial | 5% | 109.184
|
| $905,000 | 2014 | Serial | 5% | 111.48
|
| $770,000 | 2015 | Serial | 5% | 113.352
|
| $705,000 | 2016 | Serial | 5% | 114.724
|
| $825,000 | 2017 | Serial | 5% | 113.47
|
| $9.7 million | 2018 | Serial | 5% | 111.597
|
| $10.185 million | 2019 | Serial | 5% | 109.881
|
| $10.65 million | 2020 | Serial | 5% | 108.554
|
| $9.05 million | 2021 | Serial | 5% | 107.187
|
|
|
| $42.45 million series 2010B
|
| Amount | Maturity | Type | Coupon | Price
|
| $1.365 million | 2012 | Serial | 2% | 101.832
|
| $1.395 million | 2013 | Serial | 2% | 102.263
|
| $1.42 million | 2014 | Serial | 2% | 101.827
|
| $1.45 million | 2015 | Serial | 2% | 101.228
|
| $1.475 million | 2016 | Serial | 3% | 105.11
|
| $1.52 million | 2017 | Serial | 3% | 103.247
|
| $1.565 million | 2018 | Serial | 4% | 106.701
|
| $1.63 million | 2019 | Serial | 4% | 104.607
|
| $1.735 million | 2020 | Serial | 4% | 102.85
|
| $3.94 million | 2021 | Serial | 4% | 101.697
|
| $13.6 million | 2022 | Serial | 4% | 100.56
|
| $11.355 million | 2023 | Serial | 4% | 100
|
|
|
| $15.485 million series 2010C
|
| Amount | Maturity | Type | Coupon | Price
|
| $390,000 | 2011 | Serial | 2% | 100.627
|
| $935,000 | 2012 | Serial | 2% | 101.761
|
| $945,000 | 2013 | Serial | 2% | 102.263
|
| $955,000 | 2014 | Serial | 2% | 101.827
|
| $970,000 | 2015 | Serial | 2% | 101.228
|
| $990,000 | 2016 | Serial | 3% | 105.11
|
| $1.01 million | 2017 | Serial | 3% | 103.247
|
| $1.035 million | 2018 | Serial | 4% | 106.882
|
| $1.065 million | 2019 | Serial | 4% | 104.607
|
| $1.095 million | 2020 | Serial | 4% | 102.85
|
| $1.135 million | 2021 | Serial | 4% | 101.697
|
| $1.175 million | 2022 | Serial | 4% | 100.56
|
| $1.215 million | 2023 | Serial | 4% | 100
|
| $1.26 million | 2024 | Serial | 4% | 99.176
|
| $1.31 million | 2025 | Serial | 4% | 98.381
|
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