Atlanta and Fulton County Recreation plans to sell $140 million bonds

By Sheri Kasprzak

New York, Oct. 20 - The City of Atlanta and Fulton County Recreation Authority is set to sell $140 million in series 2010 taxable revenue refunding and improvement bonds, according to a preliminary official statement.

The bonds (Aa3/AAA/) will be sold on a negotiated basis with Goldman Sachs & Co. as the lead manager. The co-managers are Jackson Securities Inc., Raymond James & Associates Inc., Rice Financial Products Co., Robert Baird & Co. and Sterne, Agee & Leach Inc.

The maturities have not been set.

Proceeds will be used to finance improvements to the city's Philips Arena, as well as other recreational and cultural facilities. The remainder will be used to refund existing debt.

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