Riverside, Calif., prepares to issue $59 million variable-rate refunding water revenue bonds

By Sheri Kasprzak

New York, May 12 - The City of Riverside, Calif., is set to sell $59 million of series 2011A variable-rate refunding water revenue bonds, according to a preliminary official statement.

The bonds (Aa2/VMIG1/A-1+/AA+/F1+) will be sold on a negotiated basis with De La Rosa & Co. as the lead manager.

The bonds are due Oct. 1, 2035.

Proceeds will be used to refund the city's outstanding series 2008A bonds.

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