Texas' Harris County plans to price $351.27 million in four bonds on Feb. 7

By Cristal Cody

Springdale, Ark., Feb. 1 - Harris County, Texas, is planning to price four bonds totaling $351.27 million on Feb. 7, the issuer confirmed in an interview Friday.

The county is pricing series 2008A $35 million permanent improvement refunding bonds and series 2008A $40 million unlimited tax road refunding bonds.

The Harris County Flood Control District is pricing $120 million series 2008A and $156.27 million series 2008B flood control district contract tax refunding bonds.

Part of the flood control bonds may be issued as fixed-rate bonds and a portion as adjustable-rate bonds, according to the preliminary official statement released Friday.

The fixed rate bonds are rated Aa1/AA+/AA+. The adjustable rate bonds have not received ratings yet, said Charisse Mosely, the county's deputy director of financial services.

The adjustable-rate bonds have preliminary maturities from Oct. 1 through 2028. Maturities have not been set on the fixed-rate bonds, she said.

Morgan Keegan & Co. and Estrada Hinojosa & Co. are the lead managers, with Rice Financial Products Co., Jackson Securities, Southwest Securities and RBC Capital markets as co-managers.

Proceeds will be used to refund outstanding bonds.

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