Grand Prairie I.S.D., Texas, to sell $61.205 million bonds this week

By Cristal Cody

Springdale, Ark., July 14 - Grand Prairie Independent School District in Texas expects to price $61.205 million unlimited tax school building bonds this week, a source familiar with the sale said Monday.

The series 2008 bonds could price as early as Tuesday, depending on how crowded the market is, the source said.

The bonds will be sold as current interest and capital appreciation bonds.

The $60.715 million current interest bonds have serial maturities from 2011 through 2037.

The $490,000 premium capital appreciation bonds are due in 2009 and 2010.

Morgan Keegan & Co. is the senior manager of the negotiated sale. Co-managers are Estrada Hinojosa & Co., First Southwest Co. and Southwest Securities.

Proceeds will be used to construct, renovate and equip school facilities.

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