Published on 3/6/2013 in the Prospect News Municipals Daily.
New Issue: Ector Independent School District, Texas, sells $117.35 million of school bonds
By Sheri Kasprzak
New York, March 6 - The Ector Independent School District of Texas priced $117.35 million of series 2013 unlimited tax school building bonds, according to a pricing sheet.
The bonds were sold through Southwest Securities Inc.
The bonds are due 2014 to 2036 with a term bond due in 2038. The serial coupons range from 3% to 5%. The 2038 bonds have a 3.5% coupon priced at 96.085.
Proceeds will be used to construct, equip and furnish high school buildings, construct and equip elementary school buildings and acquire school buses for the district.
| Issuer: | Ector Independent School District, Texas
|
| Issue: | Series 2013 unlimited tax school building bonds
|
| Amount: | $117.35 million
|
| Type: | Negotiated
|
| Underwriters: | Southwest Securities Inc. (lead), Estrada Hinojosa & Co. and First Southwest Co. (co-managers)
|
| Pricing date: | March 6
|
| Settlement date: | March 26
|
|
|
| Amount | Maturity | Type | Coupon | Price
|
| $125,000 | 2014 | Serial | 3% | 103.702
|
| $770,000 | 2015 | Serial | 3% | 106.08
|
| $790,000 | 2016 | Serial | 3% | 108.124
|
| $815,000 | 2017 | Serial | 3% | 109.904
|
| $840,000 | 2018 | Serial | 3% | 110.782
|
| $855,000 | 2019 | Serial | 4% | 117.215
|
| $895,000 | 2020 | Serial | 4% | 117.862
|
| $935,000 | 2021 | Serial | 4% | 118.235
|
| $970,000 | 2022 | Serial | 4% | 118.341
|
| $1,005,000 | 2023 | Serial | 4% | 117.84
|
| $1.05 million | 2024 | Serial | 4% | 115.217
|
| $1,095,000 | 2025 | Serial | 4% | 114.03
|
| $1.08 million | 2026 | Serial | 4% | 112.857
|
| $1,125,000 | 2027 | Serial | 4% | 111.986
|
| $7.53 million | 2028 | Serial | 4% | 111.218
|
| $7,835,000 | 2029 | Serial | 4% | 110.647
|
| $8,145,000 | 2030 | Serial | 5% | 121.1
|
| $8,555,000 | 2031 | Serial | 5% | 120.596
|
| $8.98 million | 2032 | Serial | 5% | 120.095
|
| $9.43 million | 2033 | Serial | 5% | 119.696
|
| $9.9 million | 2034 | Serial | 5% | 119.1
|
| $10,395,000 | 2035 | Serial | 5% | 118.507
|
| $10,915,000 | 2036 | Serial | 5% | 117.918
|
| $23,315,000 | 2038 | Term | 3.5% | 96.085
|
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