Washington coordinates $522.1 million sale of G.O. bonds

By Sheri Kasprzak

New York, Feb. 1 – The State of Washington is slated to price $522,105,000 of series 2016 general obligation bonds on Feb. 9, according to a preliminary official statement.

The deal includes $321.58 million of series 2016C various purpose G.O. bonds and $200,525,000 of series 2016D motor vehicle fuel tax G.O. bonds.

The bonds (Aa1/AA+/AA+) will be sold competitively with Montague De Rose & Associates and Piper Jaffray & Co. as the financial advisers.

The 2016C bonds are due 2017 to 2041, and the 2016D bonds are due 2017 to 2041.

Proceeds will be used to finance K-12 school renewal and replacement projects, facilities for state universities and community and technical colleges, state facilities projects, outdoor recreation facilities, state water supply development, flood mitigation and prevention, habitat conservation and farmland and riparian protection projects, as well as to fund high-occupancy vehicle projects in Pierce County, widen Interstate 405, improve Interstate 90 at the Snoqualmie Pass East, improve and realign to the North Spokane Corridor of U.S. 395 and improve Interstate 5 in Cowlitz and Lewis counties.

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