Tennessee Local Development Authority to price $57 million in BANs

By Cristal Cody

Springdale, Ark., June 3 - The Tennessee Local Development Authority intends to price $57 million revenue bond anticipation notes (BANs) in a competitive sale on June 11, according to a preliminary official statement.

The series 2008A state loans program notes are due June 24, 2009.

Public Financial Management is the authority's financial adviser.

Proceeds will be used to retire $53.071 million in outstanding series 2007 notes and for loans to local governments to finance sewage treatment projects.

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