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Published on 7/26/2011 in the Prospect News Municipals Daily.

New Issue: Miami-Dade County School District sells $200 million TANs

By Sheri Kasprzak

New York, July 26 - The Miami-Dade County School District of Florida sold $200 million of series 2011 tax anticipation notes, according to a pricing sheet.

The notes (MIG1) were sold competitively with Bank of America Merrill Lynch winning the bid.

The notes are due Jan. 27, 2012 and have a 2% coupon priced at 100.939 to yield 0.12%.

Proceeds will be used to fund capital requirements ahead of the collection of ad valorem taxes.

Issuer:Miami-Dade County School District
Issue:Series 2011 tax anticipation notes
Amount:$200 million
Type:Competitive
Underwriter:Bank of America Merrill Lynch
Maturity:Jan. 27, 2012
Coupon:2%
Price:100.939
Yield:0.12%
Rating:Moody's: MIG1
Pricing date:July 21
Settlement date:July 27

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