Portland, Ore., to price $67.085 million redevelopment and refunding revenue bonds Tuesday

By Sheri Kasprzak

New York, June 30 - The City of Portland, Ore., pans to price $67.085 million in redevelopment and refunding revenue bonds on Tuesday, according to a calendar of upcoming sales.

The bonds (Aa3-) will be sold on a negotiated basis with Banc of America Securities LLC as the senior manager and Citigroup Global Markets as the co-manager.

The sale includes $35.215 million in series 2008A South Park Blocks urban renewal and redevelopment bonds and $31.87 million in series 2008B South Park Blocks urban renewal and redevelopment refunding bonds.

The series 2008A bonds are due from 2009 to 2019, and the series 2008B bonds are due 2019 to 2024.

Proceeds from the 2008A bonds will be used to finance capital projects in the South Park Blocks urban renewal area and to fund the 2008A bond reserve subaccount. The 2008B bonds will be used to finance capital projects, to refund all or a portion of the series 2000A South Park Blocks urban renewal and redevelopment bonds and to fund the series 2008B bond reserve subaccount.

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