Collin County, Texas, plans $67.93 million of road improvement bonds

By Sheri Kasprzak

New York, May 7 - Collin County, Texas, is set to price $67,925,000 of series 2012 road improvement and refunding bonds, according to a preliminary official statement.

The offering includes $48,255,000 of series 2012 unlimited tax road and refunding bonds and $19.67 million of series 2012 limited tax refunding and improvement bonds.

The bonds (Aaa/AAA/) will be sold on a negotiated basis with Citigroup Global Markets Inc. and Estrada Hinojosa & Co. as the senior managers. The co-manager is Stifel, Nicolaus & Co. Inc.

The unlimited tax bonds are due 2013 to 2032, and the limited tax bonds are due 2013 to 2032.

Proceeds will be used to acquire and improve land for park and open space purposes, including joint city-county projects; construct, maintain and operate macadamized, graveled or paved roads and turnpikes in the county; and refund the county's series 2004 unlimited tax road and refunding bonds and series 2005 unlimited tax road and refunding bonds.

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