Washington state preps $539.67 million sale of G.O. bonds for Tuesday

By Sheri Kasprzak

New York, Feb. 27 - The State of Washington is set to price $539.67 million of series 2012 general obligation bonds on Tuesday, according to a preliminary official statement.

The deal includes $346,075,000 of series 2012D various purpose G.O. bonds and $188,595,000 of series 2012E motor vehicle fuel tax G.O. bonds.

The 2012D bonds are due 2013 to 2037, and the 2012E bonds are due 2013 to 2042.

The bonds (Aa1/AA+/AA+) will be sold on a competitive basis with Montague DeRose and Associates LLC.

Proceeds will be used to pay and reimburse state expenditures. Specifically, proceeds will be used for the following:

• For capital projects, state buildings and facilities for institutions of higher education;

• For state programs for Columbia River Basin water supply development, Hood Canal aquatic rehabilitation, outdoor recreation, riparian protection and habitation conversation;

• To pay expenditures for the construction of selected projects or improvements that are identified as transportation 2003 projects or improvements in the 2003 omnibus transportation budget; and`

• For construction of selected projects or improvements that are identified as 2005 transportation partnership projects or improvements in the 2005 omnibus transportation budget.

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