Tacoma, Wash., to price $103.23 million water system revenue bonds

By Cristal Cody

Tupelo, Miss., Aug. 2 - The City of Tacoma, Wash., plans to price $103.225 million in water system revenue bonds (Aa2/AA/), according to a preliminary official statement.

The offering includes $29.575 million in series 2010A revenue and refunding bonds and $73.65 million in series 2010B Build America Bonds.

The series 2010A bonds have serial maturities from 2012 through 2023, and the series 2010B bonds have term maturities due 2030 and 2040.

Citigroup Global Markets Inc. will manage the negotiated sale.

The bonds are expected to price Aug. 10, a source with the city said Monday.

Proceeds will be used to finance capital improvements to the water system and to refund outstanding bonds if interest rates are favorable, according to the statement.

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