California Water Resources prepares $118.43 million bonds for May 21

By Sheri Kasprzak

New York, May 13 - The California Department of Water Resources is scheduled to sell $118,425,000 of series AQ Central Valley Project water system revenue bonds on May 21, according to a preliminary official statement.

The bonds (Aa1/AAA/) will be sold competitively with Montague DeRose and Associates LLC as the financial adviser.

The maturities have not been set.

Proceeds will be used to construct water system project and retire commercial paper notes.

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