Michigan Municipal Bond Authority to sell $67.47 million bonds March 10

By Cristal Cody

Tupelo, Miss., March 3 - The Michigan Municipal Bond Authority plans to sell the previously announced $67.465 million in series 2009B local government pooled loan program revenue bonds on March 10, the issuer told Prospect News.

The largest tranche is from the Charter County of Wayne, which will sell $37.385 million local project bonds with serial maturities from Nov. 1, 2009 through Nov. 1, 2018 and terms due 2026 and 2028, said Kathy O'Keefe, spokesman for the authority.

The remaining pool includes $1.195 million revenue sharing bonds with serial maturities from Nov. 1, 2009 through Nov. 1, 2018 and terms due 2023 and 2028; $23.57 million state qualified school bonds with serial maturities from 2010 through 2016; and $5.315 million school program bonds with serial maturities from 2010 through 2014.

Fifth Third Securities will manage the negotiated sale.

The proceeds will be used to purchase municipal obligations.

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