Miami-Dade County, Fla., trims competitive G.O. sale to $172 million

By Sheri Kasprzak

New York, Dec. 9 - Miami-Dade County of Florida has reduced the size of its planned competitive offering of series 2008B Building Better Communities Program general obligation bonds to $172 million from $350 million, according to a revised notice of sale released Tuesday.

The county had been in talks this week about cutting the size of the offering due to harsh market conditions, said Rachel Baum, the county's finance director.

The bonds (Aa3/AA-/) are still scheduled to price competitively on Thursday with Public Financial Management as the financial adviser.

The bonds are due 2009 to 2028.

Proceeds will be used for capital improvement projects under the Building Better Communities program.

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