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Gainesville, Fla., prepares $68.26 million of utilities revenue bonds
By Sheri Kasprzak
New York, Dec. 5 – The City of Gainesville, Fla., is set to price $68.26 million of series 2014 utilities system revenue bonds, according to a preliminary official statement.
The offering includes $37,285,000 of series 2014A bonds and $30,975,000 of series 2014B bonds.
The bonds (Aa2/AA/AA-) will be sold through lead manager J.P. Morgan Securities LLC with BofA Merrill Lynch, BMO Capital Markets Inc. and Goldman, Sachs & Co. as the co-managers.
The 2014A bonds are due 2015 and 2021 to 2034 with term bonds due in 2039 and 2044.
The 2014B bonds are due 2015 to 2020, 2029 to 2030 and 2036.
Proceeds will be used to finance improvements to the city’s utilities system, as well as to refund the city’s series 2005A and 2008A revenue bonds.
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