San Jacinto River Authority, Texas, to issue $84.07 million bonds

By Sheri Kasprzak

New York, May 11 - The San Jacinto River Authority of Texas is expected to price $84.065 million of series 2011 Groundwater Reduction Plan Division special project revenue bonds, according to a preliminary official statement.

The bonds will be sold through Morgan Keegan & Co. Inc. with FirstSouthwest Co., Wells Fargo Securities LLC, Bank of America Merrill Lynch, Coastal Securities LLC and Southwest Securities Inc. as the co-managers.

The bonds are due 2014 to 2025 with term bonds due in 2030, 2033 and 2037.

Proceeds will be used to conserve, protect and enhance groundwater resources in Montgomery County, Texas.

Based in Conroe, Texas, the authority protects and conserves water resources along the San Jacinto River watershed.

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