Chicago Park District, Ill., plans to sell $178 million of G.O. bonds

By Sheri Kasprzak

New York, Sept. 16 - The Chicago Park District of Illinois is set to price $178 million of series 2011 general obligation bonds, said a preliminary official statement.

The offering includes $40 million of series 2011A limited tax park bonds, $25 million of series 2011B limited tax refunding bonds, $82 million of series 2011C unlimited tax refunding bonds and $31 million of series 2011D unlimited tax refunding bonds.

The bonds (Aa2/AA+/AAA) will be sold on a negotiated basis via William Blair & Co. Inc. and Morgan Stanley & Co. LLC. The co-managers are BMO Capital Markets LLC, North South Capital LLC and Siebert Brandford Shank & Co. LLC.

The maturities have not been set.

Proceeds will be used to finance the costs associated with building, maintaining and repairing city parks, as well as to redeem all or a portion of the district's series 2001A and 2001C general obligation bonds.

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