Public Utility District No. 1 of Douglas County, Wash., to sell $113.07 million revenue bonds

By Sheri Kasprzak

New York, Aug. 10 - The Public Utility District No. 1 of Douglas County in Washington State plans to price $113.065 million in series 2010 Wells Hydroelectric bonds, according to a preliminary official statement.

The offering comprises $57.3 million in series 2010A bonds, $39.225 million in series 2010B Build America Bonds, $3.475 million in series 2010C non-AMT bonds and $13.065 million in series 2010D AMT bonds.

The bonds (Aa3/AA/) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Seattle-Northwest Securities Corp. as the lead managers.

The maturities have not been set.

Proceeds will be used to finance generator rebuilds and other capital improvements, as well as to refund the district's series 1999A and 2000A bonds.

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