Seattle preparing to price $307.76 million municipal light and power revenue bonds Wednesday

By Sheri Kasprzak

New York, Jan. 6 - The City of Seattle is gearing up to sell $307.755 million of series 2011 municipal light and power improvement revenue bonds on Wednesday, according to a preliminary official statement.

The offering includes $297.755 million of series 2011A improvement and refunding bonds and $10 million of series 2011B taxable new clean renewable energy revenue bonds.

The bonds will be sold competitively with Seattle-Northwest Securities Inc. as the financial adviser.

The 2011A bonds are due 2011 to 2026 and 2028 to 2036. The 2011B bonds are due Feb. 1, 2027.

Proceeds will be used to finance capacity and efficiency improvements to the city's Boundary Hydroelectric Project, as well as to refund existing debt, subject to market conditions.

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