El Paso, Texas, coordinates $118.59 million of G.O. bonds

By Sheri Kasprzak

New York, July 13 – The City of El Paso, Texas, is slated to price $118,585,000 of series 2015 general obligation refunding and improvement bonds on Tuesday, according to a preliminary official statement.

The bonds (/AA/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager and Raymond James/Morgan Keegan and Wells Fargo Securities LLC as the co-managers.

The bonds are due 2016 and 2019 to 2041.

Proceeds will be used to acquire, construct, renovate and equip new and existing park, recreation, open space and zoo facilities; acquire land and rights-of-way; acquire and install public art; construct, improve, renovate and equip new and existing library, museum, cultural and performing arts facilities; and to refund the city’s series 2007 G.O. refunding bonds, series 2007A G.O. bonds, series 2007 combination tax and revenue certificates of obligation and series 2008 G.O. bonds.

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