Evansville, Ind., to price $123.81 million lease rental revenue bonds

By Sheri Kasprzak

New York, April 22 - The City of Evansville in Indiana is set to price $123.805 million in series 2010 lease rental revenue bonds, according to a preliminary official statement.

The bond offering includes $8.94 million in series 2010A tax-exempt bonds and $114.865 million in series 2010B taxable Build America Bonds.

The bonds (A1/A/) will be sold on a negotiated basis with Hilliard Lyons as the senior manager. The co-managers are City Securities Corp. and Fifth Third Securities Inc.

The 2010A bonds are due 2014 to 2016. The 2010B bonds are due 2017 to 2025 with term bonds due 2029, 2034 and 2039.

Proceeds will be used to acquire real property upon which the city plans to construct an arena. The remainder will be used to refund existing debt.

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