Waco, Texas, plans $55.96 million sale of G.O. bonds and certificates

By Sheri Kasprzak

New York, Jan. 22 - The City of Waco, Texas, is set to price $55,955,000 of series 2013 bonds and certificates, according to a preliminary official statement.

The offering includes $44.09 million of series 2013 general obligation refunding bonds and $11,865,000 of series 2013 combination tax and revenue certificates of obligation.

The bonds (Aa2/AA/) will be sold on a negotiated basis with RBC Capital Markets LLC as the senior manager. The co-managers are Raymond James/Morgan Keegan and Samco Capital Markets.

The 2013 G.O. refunding bonds are due 2014 to 2036, and the certificates are due 2014 to 2033.

Proceeds will be used to refund the city's series 2004 combination tax and revenue certificates of obligation and repay its series 2002 Texas Water Development Board state participation loan.

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