Gilbert, Ariz., municipal property to sell $78.77 million bonds by week of March 9

By Cristal Cody

Tupelo, Miss., March 3 - The Public Facilities Municipal Property Corp. in the town of Gilbert, Ariz., intends to price $78.765 million in revenue bonds as early as Thursday or by next week, a sellside source told Prospect News.

The previously announced series 2009 bonds (Aa3/AA/) have serial maturities from 2009 through 2028, according to a preliminary official statement.

Wedbush Morgan Securities Inc. will manage the negotiated sale.

The proceeds will be used to finance the acquisition of property for public safety and parks and recreation facilities.

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