Richardson, Texas, plans $54.14 million of G.O. bonds and certificates

By Sheri Kasprzak

New York, March 16 – The City of Richardson, Texas, is expected to price $54,135,000 of series 2015 general obligation bonds and certificates of obligation on Thursday, according to a preliminary official statement.

The offering includes $44,705,000 of series 2015 G.O. refunding bonds, $7.23 million of series 2015A combination tax and revenue certificates of obligation and $2.2 million of series 2015B combination tax and revenue certificates of obligation.

The bonds (Aaa/AAA/) and certificates will be sold on a negotiated basis with Stifel, Nicolaus & Co. as the lead manager and BOSC Inc. and Raymond James/Morgan Keegan as the co-managers.

The 2015 G.O.s are due 2016 to 2026. The 2015A certificates are due 2016 to 2035 and the 2015B certificates are due 2016 to 2035.

Proceeds will be used to finance capital improvements, including street and lighting repairs, bridges and water and sewer system improvements, as well as to refund the city’s series 2005 G.O. improvement and refund bonds, series 2005 certificates of obligation, series 2006 G.O. improvement and refunding bonds and series 2006 certificates.

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