Los Angeles County MTA to sell $251.46 million revenue refunding bonds

By Sheri Kasprzak

New York, May 27 - The Los Angeles County Metropolitan Transportation Authority is expected to price $251.46 million in series 2009 proposition C sales tax revenue refunding bonds, according to a preliminary official statement.

The sale is expected to take place in June.

The bonds (A1/AA+/) will be sold on a negotiated basis with Goldman, Sachs & Co. as the senior manager.

The bonds are due 2010 to 2020.

Proceeds will be used to retire commercial paper and refund the authority's series 1993-A bonds, as well as to terminate the authority's series 1993-A bonds swap agreement.

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