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Virginia Beach, Va., to sell $85.56 million public improvement bonds
By Sheri Kasprzak
New York, March 22 - The City of Virginia Beach, Va., plans to sell $85.56 million of series 2012 general obligation public improvement bonds on April 4, according to a preliminary official statement.
The deal includes $65 million of series 2012A G.O. public improvement bonds and $20.56 million of series 2012B G.O. public improvement refunding bonds.
The 2012A bonds are due 2013 to 2032. The 2012B bonds are due 2019 to 2025.
The bonds (Aaa/AAA/AAA) will be sold competitively with Public Resources Advisory Group as the financial adviser.
Proceeds will be used to fund capital improvement projects and refund existing G.O. debt.
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