Denton, Texas, intends to sell $65.2 million G.O. bonds, certificates of obligation Tuesday

By Sheri Kasprzak

New York, June 11 - The City of Denton, Texas, is scheduled to price $65.2 million in series 2010 general obligation bonds and certificates of obligation on Tuesday, according to a preliminary official statement.

The offering includes $4.115 million in series 2010 G.O. bonds and $61.085 million in series 2010 certificates of obligation.

The G.O. bonds (Aa2/AA/) are due 2011 to 2030. The certificates (Aa2/AA/) are due 2011 to 2030.

The bonds and certificates will be sold on a competitive basis with First Southwest Co. as the financial adviser.

Proceeds from the G.O. bonds will be used to finance improvements to streets, as well as park land acquisitions and improvements.

Proceeds from the certificates will be used to acquire, improve, construct, renovate and expand the city's sewer and waterworks system; to acquire, improve, construct, renovate and expand the city's electric light and power system; to improve and renovate the city's solid waste system; to renovate and equip existing municipal buildings; and to acquire city vehicles.

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