Texas to sell $61.18 million general obligation bonds

By Sheri Kasprzak

New York, Nov. 25 - Texas is planning to price $61.175 million in series 2008 general obligation bonds, according to a preliminary official statement released Tuesday.

The bonds (Aa1/AA/AA+) will be sold on a negotiated basis with Loop Capital Markets as the senior manager. The co-managers are Ramirez & Co., RBC Capital Markets and Wachovia Securities.

The sale includes $26.27 million in series 2008B water financial assistance refunding bonds and $34.905 million in series 2008C water financial assistance refunding bonds.

The 2008B bonds are due 2009 to 2018, and the 2008C bonds are due 2009 to 2018.

Proceeds will be used to refund the state's outstanding series 1998A and 1998C water financial assistance bonds.

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