State of Washington to price $400 million G.O. bonds Jan. 7

By Sheri Kasprzak

New York, Dec. 23 - The state of Washington is expected to sell $400 million in series 2009 general obligation bonds on Jan. 7, according to a preliminary official statement released Tuesday.

The offering includes $270 million in series 2009C various purpose G.O. bonds and $130 million in series 2009D motor vehicle fuel tax G.O. bonds.

The bonds will be sold on a competitive basis with Seattle-Northwest Securities Co. and Montague DeRose and Associates as the financial advisers.

The 2009C bonds are due from 2010 to 2034, and the 2009D bonds are due from 2010 to 2034.

Proceeds from the 2009C bonds will be used for capital purposes, and proceeds from the 2009D bonds will be used for expenditures related to highway improvements, the construction of certain 2003 projects or improvements and the construction of certain 2005 transportation partnership projects or improvements.

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