Semitropic Improvement District, Calif., to sell $84.2 million bonds

By Cristal Cody

Tupelo, Miss., Aug. 2 - Semitropic Improvement District of Semitropic Water Storage District in Kern County, Calif., plans to sell $84.2 million of water banking revenue refunding bonds (/A+/AA-), according to a preliminary official statement on Thursday.

The deal includes $72 million of series 2012A bonds and $12.2 million of series 2012B bonds.

The bonds will price via a negotiated sale managed by Wells Fargo Securities LLC.

Proceeds will be used to refund and defease outstanding obligations.

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