El Paso, Texas, to price $58.12 million certificates of obligation

By Sheri Kasprzak

New York, Jan. 15 - El Paso, Texas, is gearing up to sell $58.115 million in series 2009 certificates of obligation, according to a preliminary official statement released Thursday.

The certificates will be sold on a negotiated basis with Southwest Securities Inc. as the lead manager. The co-managers are Banc of America Securities LLC and Citigroup Global Markets Inc.

The certificates are due from 2010 to 2034.

Proceeds will be used to construct and improve roads, sidewalks and related facilities; to construct and install flood control and drainage facilities; to renovate city administrative buildings; and to purchase equipment.

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