School Board of Sarasota County, Fla., to sell $72.34 million COPs

By Sheri Kasprzak

New York, Aug. 13 - The School Board of Sarasota County in Florida plans to price $72.34 million in series 2010B certificates of participation, according to a preliminary official statement.

The certificates (Aa2/AA-/AA) will be sold on a negotiated basis with Citigroup Global Markets Inc. as the senior manager. The co-managers are RBC Capital Markets Corp., Wells Fargo Securities LLC and Raymond James & Associates Inc.

The COPs are due 2011 to 2025.

Proceeds will be used to finance the acquisition, construction and lease purchase of new school buildings, as well as the rehabilitation and improvement of existing buildings.

The board is based in Sarasota, Fla.

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