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Los Angeles preps $1.2 billion of tax and revenue anticipation notes
By Sheri Kasprzak
New York, June 21 - The City of Los Angeles is expected to bring to market $1.2 billion of series 2010 tax and revenue anticipation notes, said a preliminary official statement.
The notes will be sold through senior managers J.P. Morgan Securities Inc. and Bank of America Merrill Lynch. The co-managers are Loop Capital Markets LLC and RBC Capital Markets Corp.
The notes are due March 31, 2011, May 31, 2011 and June 30, 2011.
Proceeds will be used to fund general operating expenses for the 2010-2011 fiscal year.
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