District of Columbia preps $54.78 million revenue refunding bond sale

By Sheri Kasprzak

New York, May 30 - The District of Columbia plans to price $54,775,000 of series 2012 tax increment revenue refunding bonds for the Gallery Place Project, according to a preliminary official statement.

The bonds (A1/A-/A+) will be sold on a negotiated basis with TD Securities LLC and Goldman, Sachs & Co. as the lead managers. The co-managers are Fidelity Capital Markets Inc. and M.R. Beal & Co.

The bonds are due 2013 to 2031.

Proceeds will be used to finance capital improvements to the Gallery Place-Chinatown subway station in Washington, D.C.

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