Polk County, Fla., to sell $52.32 million revenue and refunding bonds

By Cristal Cody

Tupelo, Miss., Nov. 27 - Polk County, Fla., intends to price $52.32 million of series 2013 utility system revenue and refunding bonds, according to a preliminary official statement.

The bonds (Aa3/A+/AA-) have serial maturities from 2015 through 2029 and terms due 2038 and 2043.

Raymond James/Morgan Keegan is the bookrunner for the negotiated offering. The co-managers are BofA Merrill Lynch, Citigroup Global Markets Inc. and Fifth Third Securities, Inc.

The county plans to use the proceeds to finance the acquisition and construction of additions, extensions and improvements to the water distribution and wastewater collection and treatment system and to refund all or a portion of the outstanding series 2004A bonds that mature on and after Oct. 1, 2015.

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