Eagle Mountain-Saginaw I.S.D., Texas, to price $96 million in building bonds

By Sheri Kasprzak

New York, July 21 - The Eagle Mountain-Saginaw Independent School District of Texas plans to sell $96 million in unlimited tax school building revenue bonds, said a source familiar with the sale.

The earliest the bonds will be priced is Wednesday, the source said, though the sale could be delayed if market conditions are not ideal.

The sale is the first installment of the district's $394 million 2008 bond program, according to the source.

The bonds are being sold on a negotiated basis with First Southwest Co. as the senior manager.

Proceeds will be used for the construction of a high school, two elementary schools and a career and technology center, as well as land acquisitions and renovations.

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