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Virginia Public Building Authority preps $467.77 million revenue bonds
By Sheri Kasprzak
New York, Aug. 25 – The Virginia Public Building Authority is expected to price $467.77 million of series 2014 revenue bonds on Wednesday, according to a preliminary official statement.
The deal includes $129.17 million of series 2014A public facilities revenue bonds, $29,215,000 of series 2014B taxable public facilities revenue bonds and $309,385,000 of series 2014C public facilities refunding revenue bonds.
The bonds (Aa1/AA+/AA+) will be sold competitively with Public Financial Management Inc. as the financial adviser.
The 2014A bonds are due 2015 to 2034, and the 2014B bonds are due 2015 to 2034. The 2014C bonds are due 2015 to 2027.
Proceeds will be used to finance the construct, improvement, reconstruction and equipment of public facilities utilized by the commonwealth, including jail and juvenile correctional facilities.
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