Durham, N.C. to price $58.92 million in general obligation bonds July 15

By Sheri Kasprzak

New York, July 3 - The City of Durham, N.C. plans to price $58.92 million in series 2008 general obligation bonds on July 15, said a preliminary official statement released Thursday.

The bonds will be sold on a competitive basis, and the sale includes $12.35 million in series 2008A bonds and $46.57 million in series 2008B bonds.

The 2008A bonds are due from 2010 to 2026 and the 2008B bonds are also due from 2010 to 2026.

Proceeds from the 2008A bonds will be issued to pay capital costs of improvements to the city's streets and sidewalk, certain public buildings and various parks and recreation facilities. Proceeds from the 2008B bonds will be used for capital costs of improvements of public safety facilities, cultural facilities, parks and recreation facilities, public buildings, streets and sidewalks, parking facilities, water and sewer system and provide funds for neighborhood improvements.

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