Rutherford County, Tenn., arranges $70 million sale of G.O. bonds

By Sheri Kasprzak

New York, Jan. 17 - Rutherford County in Tennessee is expected to sell $70 million of series 2012 general obligation bonds on Wednesday, according to a sales calendar.

The bonds (Aa1) will be sold competitively with Stephens Inc. as the financial adviser.

The bonds are due 2013 to 2032.

Proceeds from the deal will be used to refinance outstanding capital outlay notes, which are due on April 1, 2012, as well as to finance the construction of a new high school, the expansion of a K-12 school and road and public safety improvements.

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