Dearborn School District, Mich., to price $71.74 million school bonds

By Sheri Kasprzak

New York, Jan. 7 - The School District of the City of Dearborn, Mich., is set to price $71.74 million of series 2014 school building and site general obligation bonds, according to a preliminary official statement.

The deal includes $69.45 million of series 2014A Michigan school bond qualification and loan program bonds and $2.29 million of series 2014B G.O. bonds.

The bonds will be sold on a negotiated basis with Stifel, Nicolaus & Co. as the senior manager. The co-managers are Comerica Securities Inc. and Fifth Third Securities Inc.

The 2014A bonds are due 2016 to 2030 with term bonds due in 2032 and 2034. The 2014B bonds are due 2016 to 2023.

Proceeds will be used to construct, equip, furnish and renovate school buildings within the district, as well as to purchase sites for new construction.

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