Tampa Bay Water, Fla., plans to price $103.67 million utility system revenue bonds

By Cristal Cody

Springdale, Ark., May 12 - Tampa Bay Water, Fla., plans to price $103.67 million utility system revenue bonds, according to a preliminary official statement released Monday.

The series 2008 bonds (Aa3/AA+/AA) will price in a negotiated sale.

Raymond James is the senior manager. Co-managers are Bear, Stearns & Co., Citigroup Global Markets, Banc of America Securities LLC, Merrill Lynch & Co., Morgan Stanley & Co., RBC Capital Markets Corp. and Wachovia Bank.

Proceeds will be used to pay for a portion of the costs of the 2008 project, which includes increasing the hydraulic capacity at pump stations to expand the water supply, and fund a deposit to the reserve account to equal the requirement.

Additional information was not immediately available.

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