Montgomery County, Md., to sell $579.41 million G.O. bonds Aug. 3

By Sheri Kasprzak

New York, July 27 - Montgomery County in Maryland plans to price $579.41 million of series 2011 consolidated public improvement general obligation bonds on Aug. 3, according to a notice of sale.

The bonds (Aaa/AAA/AAA) will be sold competitively with Public Financial Management Inc. as the financial adviser.

The offering includes $320 million of series 2011A consolidated improvement bonds and $259.41 million of series 2011B consolidated improvement refunding bonds.

The 2011A bonds are due 2012 to 2031. The 2011B bonds are due 2012 to 2023.

Proceeds will be used to refinance all or a portion of the county's outstanding bond anticipation notes, as well as to refund some of the county's existing G.O. bonds.

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