New Issue: City of Aurora, Ill., prices $85.5 million G.O. bonds with 4.662971% TIC

By Sheri Kasprzak

New York, May 13 - The City of Aurora in Illinois priced $85.5 million in series 2008 general obligation bonds Tuesday, city treasurer Brian Caputo said.

The bonds priced with a true interest cost of 4.662971% with Piper Jaffray as the winning bidder of the competitive sale.

The bonds (/AA+/) are due 2009 to 2037 with a term bond due 2038. The serial bonds have coupons from 3.5% to 5%. The yields were not immediately available.

The other bidders included Prager, Sealy & Co.; Citigroup Global Markets; Merrill Lynch; Robert W. Baird & Co.; Bank of America; and Wachovia Bank.

Proceeds will be used to finance the acquisition and construction of a police station and related police facilities, emergency equipment and other capital improvements.

Issuer:	City of Aurora, Ill.
Issue:	Series 2008 general obligation bonds
Amount:	$85.5 million
Type:	Competitive
Underwriter:	Piper Jaffray
True interest cost:	4.662971%
Ratings:	S&P: AA+
Pricing date:	May 13
Maturity	Type	Coupon
2009	Serial	3.5%
2010	Serial	3.5%
2011	Serial	3.5%
2012	Serial	3.5%
2013	Serial	3.5%
2014	Serial	3.5%
2015	Serial	3.5%
2016	Serial	4%
2017	Serial	4%
2018	Serial	4%
2019	Serial	4%
2020	Serial	4%
2021	Serial	4.125%
2022	Serial	4.25%
2023	Serial	4.75%
2024	Serial	5%
2025	Serial	5%
2026	Serial	5%
2027	Serial	5%
2028	Serial	5%
2029	Serial	5%
2030	Serial	5%
2031	Serial	5%
2032	Serial	5%
2033	Serial	5%
2034	Serial	5%
2035	Serial	5%
2036	Serial	5%
2037	Serial	5%
2038	Term	5%

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