Texas Transportation to sell $169.16 million first-tier bonds Thursday

By Cristal Cody

Springdale, Ark., July 18 - The Texas Transportation Commission expects to price $169.16 million state highway fund first-tier revenue bonds on Thursday, a source with the issuer said Friday.

The series 2008 bonds (Aa1/AAA/) have serial maturities from 2010 through 2028.

Morgan Keegan & Co. is the senior manager of the negotiated sale. Co-managers are Estrada Hinojosa & Co., First Southwest Co., Siebert Brandford Shank & Co. and Southwest Securities.

Proceeds will be used to finance state highway improvement projects.

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