By Sheri Kasprzak
New York, Sept. 29 - The King County Rural Library District of Washington State sold $74.095 million in series 2009 unlimited tax general obligation bonds on Tuesday, said a sellside source connected to the deal.
The bonds (/AA/) were sold competitively with J.P. Morgan Securities Inc. as the winning bidder. The true interest cost came in at 2.61%.
The bonds are due 2010 to 2021 with coupons from 2% to 5% and yields from 0.7% to 3.78%.
Proceeds will be used to construct, furnish and equip library facilities; to renovate, expand and upgrade existing facilities; and to make other capital improvements to the library system.
| Issuer: | King County Rural Library District, Wash.
|
| Issue: | Series 2009 unlimited tax general obligation bonds
|
| Amount: | $74.095 million
|
| Type: | Competitive
|
| Underwriter: | J.P. Morgan Securities Inc.
|
| True interest cost: | 2.61%
|
| Maturities: | 2010 to 2021
|
| Coupons: | 2% to 5%
|
| Yields: | 0.7% to 3.78%
|
| Rating: | Standard & Poor's: AA
|
| Pricing date: | Sept. 29
|
| Settlement date: | Oct. 14
|
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