Conroe I.S.D., Texas, to price $97.09 million bonds

By Cristal Cody

Springdale, Ark., June 11 - Conroe Independent School District in Texas intends to price $97.09 million building and refunding bonds the week of June 16, a source connected to the sale said Wednesday.

The target pricing date is June 17 for the series 2008 bonds, the source said.

The bonds will price in part as current interest and capital appreciation bonds.

The district plans to price $97.075 million as current interest bonds with serial maturities from 2009 through 2035.

The remaining $15,000 will be sold as capital appreciation bonds that mature Feb. 15, 2009.

Merrill Lynch & Co. is the senior manager of the negotiated sale. Co-managers are Goldman, Sachs & Co., First Southwest Co., Morgan Keegan & Co., Banc of America Securities LLC, Edward Jones and Raymond James & Associates.

Proceeds will be used for construction, acquisition and equipment for school buildings, new school buses and to refund a portion of the district's outstanding bonds.

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