School Board of Broward County, Fla., to sell $131.56 million COPs

By Cristal Cody

Tupelo, Miss., Feb. 25 - The School Board of Broward County in Florida plans to price $131.56 million in certificates of participation, according to a preliminary official statement.

The series 2009A certificates of participation (Aa2/AAA/AAA) have serial maturities from 2010 through 2024 and terms due in 2029 and 2034.

The certificates are insured by Assured Guaranty Corp.

Banc of America Securities LLC is the senior manager of the negotiated sale.

The co-managers are Citigroup Global Markets Inc., J.P. Morgan Securities Inc., Merrill Lynch & Co., Morgan Stanley & Co., Raymond James & Associates, Inc. and Rice Financial Products Co.

The proceeds will be used for lease purchase financing to acquire, construct and equip new school facilities, including a new elementary school and classroom additions.

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