Ohio Building Authority to price $139.79 million in facilities bonds

By Sheri Kasprzak

New York, Jan. 7 - The Ohio Building Authority is planning to sell $139.79 million in series 2009A state facilities bonds, according to a preliminary official statement.

The sale includes $60 million in administrative building fund projects bonds, $40 million in adult correctional building fund projects bonds, $1.725 million in highway safety building fund projects bonds and $38.065 million in juvenile correctional building fund projects bonds.

The administrative building bonds are due 2010 to 2028; the adult correctional building fund bonds are due 2010 to 2028; the highway safety bonds are due 2010 to 2012; and the juvenile correctional building bonds are due 2009 to 2014.

The bonds will be sold on a negotiated basis with Wachovia Securities as the senior manager. The co-managers are George K. Baum & Co., NatCity Investments Inc., PNC Capital Markets and SBK-Brooks Investment Corp.

Proceeds will be used for capital facilities to be leased to the Department of Rehabilitation and Correction of the State of Ohio, paying costs of certain capital facilities to be leased to the Department of Public Safety and refunding the state's series 1999B state facilities refunding bonds for the Juvenile Correctional Building Fund Projects.

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