Osceola County, Fla., prepares $71.35 million of tourist tax bonds

By Sheri Kasprzak

New York, June 8 - Osceola County, Fla., plans to price $71.35 million of series 2012 tourist development tax revenue refunding and improvement bonds, said a preliminary official statement.

The bonds (Aa3/AA-/) will be sold on a negotiated basis with J.P. Morgan Securities LLC as the lead manager. The co-managers are Citigroup Global Markets Inc. and Gardnyr Michael Capital Inc.

The maturities have not been set.

Proceeds will be used to finance capital improvements within the county, as well as to refund the county's series 2002A and 2009 tourist development tax revenue bonds.

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