California Statewide Communities offers $781.29 million revenue bonds

By Sheri Kasprzak

New York, Nov. 1 - The California Statewide Communities Development Authority is set to sell $781.285 million of series 2010 gas supply variable-rate revenue bonds, according to a preliminary official statement.

The bonds (Aaa/VMIG1) will be sold through RBC Capital Markets Corp.

The bonds are due Nov. 1, 2040.

Proceeds will be used to finance the prepayment of a 30-year gas supply agreement with the Sacramento Municipal Utility District.

Based in Sacramento, the authority provides financing for projects on behalf of cities, counties and local districts.

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