Sacramento, Calif., to sell $219.95 million of water revenue bonds

By Sheri Kasprzak

New York, March 12 - The City of Sacramento, Calif., is expected to come to market with $219,945,000 of series 2013 water revenue bonds, according to a preliminary official statement.

The bonds (/AA-/AA-) will be sold through Goldman, Sachs & Co. The co-managers are De La Rosa & Co. Inc., Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC and Stone & Youngberg.

The bonds are due 2014 to 2033 with term bonds due in 2038 and 2042.

Proceeds will be used to finance the rehabilitation of water treatment plants, the retrofitting of water meters, the replacement of pipelines and the rehabilitation of groundwater wells.

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