Los Angeles to price $101 million G.O. bonds Aug. 6

By Sheri Kasprzak

New York, July 25 - The city of Los Angeles intends to sell $101 million in series 2008A general obligation bonds on Aug. 6, according to a preliminary official statement released Friday.

The bonds will be sold on a competitive basis.

Proceeds will be used to clean up polluted storm water; keep pollution, trash, toxic chemicals and dangerous bacteria out of rivers and beaches; protect groundwater, bays, rivers and lakes from storm water contamination; and reduce flooding.

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