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Austin, Texas, to price $136.39 million of public improvement bonds
By Sheri Kasprzak
New York, Aug. 21 - The Austin, Texas, is expected to sell $136.385 million in series 2009 public improvement bonds Thursday for Travis and Williamson counties, according to a sales calendar.
The sale includes $46.24 million in series 2009A bonds; $63.845 million in series 2009B taxable Build America Bonds; $12.5 million in series 2009 certificates of obligation; and $13.8 million in series 2009 public property finance contractual obligations.
The bonds (Aa1/AAA/AA+) will be sold on a negotiated basis with J.P. Morgan Securities Inc. and Estrada Hinojosa & Co. as the senior managers.
The co-managers are First Southwest Co.; Goldman, Sachs & Co.; Merrill Lynch & Co. Inc.; Ramirez & Co. Inc.; and RBC Capital Markets Corp.
The 2009A public improvement bonds are due 2010 to 2019, and the 2009B BABs are due 2029. The 2009 certificates are due 2010 to 2039, and the 2009 public property finance contractual obligations are due 2010 to 2019.
Proceeds will be used to purchase equipment, as well as finance capital improvements.
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