Vernon, Calif., arranges $74.36 million sale of electric system bonds

By Sheri Kasprzak

New York, Dec. 21 - The City of Vernon, Calif., plans to sell $74,355,000 of series 2012 electric system revenue bonds, said a preliminary official statement.

The sale includes $39.53 million of series 2012A bonds and $34,825,000 of series 2012B bonds.

The maturity dates have not been set.

Proceeds will be used to make capital improvements to the city's electric system, including upgrades to distribution facilities and expansions to existing substations.

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