Seattle prepares $145.91 million G.O. bond offering for May 8

By Sheri Kasprzak

New York, April 29 - The City of Seattle is scheduled to price $145,905,000 of series 2013 general obligation bonds on May 8, according to a preliminary official statement.

The offering includes $40,755,000 of series 2013A limited tax G.O. improvement bonds (Aa1/AAA/AA+), $55.15 million of series 2013B taxable limited tax G.O. improvement and refunding bonds (Aa1/AAA/AA+) and $50 million of series 2013 unlimited tax G.O. improvement bonds (Aaa/AAA/AAA).

The 2013A bonds are due 2014 to 2033. The 2013B bonds are due 2014 to 2025. The 2013 bonds are due 2014 to 2042.

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

Proceeds will be used to construct, renovate, design, improve or replace the city's Alaskan Way Seawall, Rainier Beach Community Center, golf facilities, fire facilities, the North Precinct, financial IT upgrades, data center and police video mobile data terminals, as well as to refund existing debt.

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