Virginia delays sale of $320 million public facilities revenue bonds

By Cristal Cody

Springdale, Ark., Aug. 5 - The Commonwealth of Virginia pushed back the sale of $320 million public facilities revenue bonds to September, a source with the state said Tuesday.

The $260 million series 2008B and $60 million series 2008C bonds were expected to price in early August.

The issuer needs additional time to prepare for the sale, the source said.

The bonds (Aa1) will price through the Virginia Public Building Authority.

Proceeds will be used to finance public building projects, including local and regional jail facilities.

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