Santa Clara County Financing Authority, Calif., plans to price $115.895 million refunding bonds

By Cristal Cody

Springdale, Ark., April 29 - The Santa Clara County Financing Authority in California plans to price $115.895 million refunding lease revenue bonds probably on May 8, the issuer said Tuesday.

The pricing date for the series 2008L bonds (Aa3/AA/) will depend on market conditions, said Paul Knofler, bond and investment analyst.

Banc of America Securities LLC is the senior manager of the negotiated sale, and J.P. Morgan Securities Inc. is the co-manager.

Proceeds will be used to refund and defease the authority's auction-rate series 2003D, series 2005H and series 2006J bonds and for the payment of capitalized interest on a portion of the series 2008L bonds that will be allocated to the Morgan Hill Courthouse through May 15, 2009.

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