Ocean County, N.J., to issue $58.38 million G.O. bonds Tuesday

By Sheri Kasprzak

New York, Aug. 17 - Ocean County, N.J., plans to bring to market $58.38 million of series 2011 general improvement and general obligation refunding bonds on Tuesday, according to a preliminary official statement.

The offering includes $26.2 million of series 2011 general improvement bonds and $32.18 million of series 2011 G.O. refunding bonds.

The 2011 general improvement bonds are due 2012 to 2031 and the 2011 G.O. refunding bonds are due 2012 to 2023.

The bonds (Aaa//AAA) will be sold competitively with Public Financial Management Inc. as the financial adviser.

Proceeds will be used to finance capital projects and acquire land, as well as to construct, reconstruct and resurface projects. Proceeds from the refunding bonds will be used to refund the county's series 2004 G.O. bonds.

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