Portland, Ore., prepares $288.03 million sale of sewer revenue bonds

By Sheri Kasprzak

New York, July 31 – The City of Portland, Ore., is set to price $288.03 million of series 2014 sewer system revenue bonds on Tuesday, said a preliminary official statement.

The deal includes $92,165,000 of series 2014A refunding bonds (Aa2/AA) and $195,865,000 of series 2014B bonds (Aa3/AA-/).

The 2014A bonds are due 2015 to 2024, and the 2014B bonds are due 2015 to 2039.

The bonds will be sold competitively with Public Financial Management Inc. as the financial adviser.

Proceeds will be used to refund all or a portion of the city’s series 2004A sewer system revenue bonds, as well as to make capital improvements to the city’s sanitary sewer and storm water drainage system.

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