Austin, Texas, preps $141.04 million offering of bonds for Thursday

By Sheri Kasprzak

New York, Aug. 20 - The City of Austin, Texas, is set to price $141,035,000 of series 2012 bonds in four tranches on Thursday, according to a preliminary official statement.

The offering includes $78.98 million of series 2012A public improvement bonds, $6.65 million of series 2012B taxable public improvement bonds, $25.89 million of series 2012 certificates of obligation and $29,515,000 of series 2012 public property finance contractual obligations.

The 2012A public improvement bonds are due 2013 to 2032, and the 2012B public improvement bonds are due 2013 to 2032. The 2012 certificates of obligation are due 2013 to 2032, and the 2012 contractual obligations are due 2013 to 2019.

The bonds (Aaa/AAA/AAA) will be sold competitively with Public Financial Management Inc. as the financial adviser.

Proceeds will be used to fund capital improvements in the city and purchase equipment and personal property for city departments.

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