Public Finance Authority, Fla., intends to sell $68.33 million retirement community bonds

By Sheri Kasprzak

New York, April 1 - The Public Finance Authority of Florida is expected to price $68.325 million of series 2011A continuing care retirement community revenue bonds for the Glenridge on Palmer Ranch Inc. project, according to a preliminary official statement.

The bonds will be sold on a negotiated basis with Piper Jaffray & Co. as the lead manager.

The bonds are due 2021, 2031, 2039 and 2046.

Proceeds will be used to construct, design, equip and expand a nursing center at the Glenridge retirement facility in Sarasota, Fla., as well as to refund existing debt.

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