Cabarrus County of North Carolina to price $56.57 million COPs

By Cristal Cody

Tupelo, Miss., Sept. 12 - Cabarrus County in North Carolina plans to price $56.57 million certificates of participation, according to a preliminary official statement released Friday.

The series 2008C certificates (Aa3/AA/AA-) have serial maturities from 2011 through 2029.

Southwest Securities is the senior manager of the negotiated sale, and Merrill Lynch & Co. is the co-manager.

Proceeds will finance the construction and improvement costs of a 460-bed facility to provide long-term housing for county inmates.

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