New Issue: Kern County, Calif., prices $180 million in TRANs with 0.52471% TIC

By Sheri Kasprzak

New York, July 9 - Kern County in California sold $180 million in series 2009-10 tax and revenue anticipation notes, said a sellside source connected to the deal.

The notes (/SP-1+/) were sold on a competitive basis. Goldman, Sachs & Co. won the bid with a 0.52471% true interest cost. The notes, which are due June 30, 2010, priced at par with a 2.5% coupon.

Proceeds will be used to fund seasonal cash flow requirements.

The county seat of Kern County is Bakersfield, Calif.

Issuer:	Kern County
Issue:	Series 2009-10 tax and revenue anticipation notes
Amount:	$180 million
Type:	Competitive
Underwriter:	Goldman, Sachs & Co.
TIC:	0.52471%
Maturity:	June 30, 2010
Coupon:	2.5%
Price:	Par
Rating:	Standard & Poor's: SP-1+
Pricing date:	July 9

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