Garland Independent School District, Texas, plans $67.37 million bonds

By Sheri Kasprzak

New York, June 20 - The Garland Independent School District of Texas is set to sell $67,374,985 of series 2011 unlimited tax school building bonds, said a preliminary official statement.

The bonds (AAA/AA) will be sold on a negotiated basis with Southwest Securities Inc. and Morgan Keegan & Co. Inc. as the senior managers. The co-managers are Estrada Hinojosa & Co. Inc. and Piper Jaffray & Co.

The deal includes $2,454,985 of capital appreciation bonds due in 2012 and $64.92 million of current interest bonds due 2013 to 2031.

Proceeds will be used to construct, equip and renovate schools in the district.

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