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Odessa Junior College, Texas, to sell $68.5 million limited tax bonds
By Sheri Kasprzak
New York, April 7 - The Odessa Junior College District of Texas plans to price $68.5 million of series 2011 limited tax bonds, according to a preliminary official statement.
The bonds (/AA-/AA-) will be sold on a negotiated basis with Morgan Keegan & Co. Inc. as the senior manager. The co-managers are Edward Jones & Co. Inc., Raymond James & Associates Inc. and Wells Fargo Securities LLC.
The sale includes $300,000 of premium capital appreciation bonds and $68.2 million of current interest bonds.
The capital appreciation bonds are due 2013 to 2015, and the current interest bonds are due 2015 to 2041.
Proceeds will be used to construct, acquire, design and renovate junior colleges throughout the district.
The district, based in Odessa, Texas, operates Odessa College, which includes 15 buildings.
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