Los Angeles Community College sets $175 million sale of G.O. bonds

By Sheri Kasprzak

New York, July 7 - The Los Angeles Community College District is expected to bring to market $175 million in 2008 election series 2010C general obligation bonds, according to a preliminary official statement.

The bonds (Aa1/AA/) will be sold on a negotiated basis with Morgan Stanley & Co. Inc. as the senior manager. The co-managers are Goldman, Sachs & Co.; Ramirez & Co. Inc.; Backstrom McCarley Berry & Co. LLC; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; De La Rosa & Co.; and Siebert Brandford Shank & Co. LLC.

The maturities have not been set.

Proceeds will be used to install upgraded emergency lighting and security systems at all community colleges in the city, to improve and add walkways, sidewalks and roads at the campuses and to construct energy infrastructure systems.

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