Erie County Fiscal Stability Authority in New York to sell $131.745 million in three tranches

By Cristal Cody

Prospect News, July 22 - The Erie County Fiscal Stability Authority in New York intends to bring $131.745 million in three tranches of bonds (Aa1//AA+), according to a preliminary official statement.

The series 2011A bonds have serial maturities from 2011 through 2018. The series 2011B bonds are due 2012 through 2023, and the series 2011C bonds have serial maturities from 2013 through 2028.

The bonds will price through a negotiated sale managed by lead underwriter Roosevelt & Cross Inc. and co-manager Jefferies & Co.

Proceeds will be used to refund a portion of the county's outstanding 2004B bonds, purchase county bonds and to make loans to provide for the payment of costs for county-approved capital commitments to the Erie County medical Center Corp.

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