Portland, Ore., to sell $412.06 million second-lien sewer system bonds

By Cristal Cody

Tupelo, Miss., Aug. 4 - The City of Portland, Ore., intends to sell $412.06 million in second-lien sewer system revenue bonds, according to a preliminary official statement.

The series 2010A bonds (Aa3/AAA/) have serial maturities from 2011 through 2035.

The bonds are expected to price through a competitive sale on Tuesday.

Public Financial Management, Inc. is the financial adviser.

Proceeds will be used to finance capital facilities and improvements to the sanitary sewer and storm water drainage system and to repay a line of credit.

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