Eastern Municipal Water District, Calif., to sell $54.62 million COPs Tuesday

By Cristal Cody

Springdale, Ark., June 13 - The Eastern Municipal Water District in Riverside County, Calif., intends to price its previously announced $54.62 million water and sewer revenue refunding certificates of participation on Tuesday, the issuer told Prospect News.

The series 2008C variable-rate certificates initially will price with a weekly interest rate, said Chuck Rathbone, chief financial officer.

The certificates (Aa3/AA/AA) are due July 1, 2020.

Citigroup Global Markets will manage the negotiated sale.

Proceeds will be used to refund the series 1993B certificates of participation without insurance from FIGIC.

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