Kern County, Calif., to sell $93.47 million in COPs via J.P. Morgan

By Sheri Kasprzak

New York, March 31 - Kern County in California is gearing up to sell $93.465 million in series 2009A certificates of participation, according to a preliminary official statement.

The certificates are expected to price the week of April 6, but no exact pricing date has been set, said a sellside source connected to the sale.

The COPs (A3/A+/) will be sold through senior manager J.P. Morgan Securities Inc. with Citigroup Global Markets Inc., Piper Jaffray & Co. and Wedbush Morgan Securities Inc. as the co-managers.

The certificates are due 2011 to 2029 with a term certificate due 2035.

Proceeds will be used to pay for transportation projects and to supplement the county's income following state budget cuts.

The county seat of Kern County is Bakersfield.

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