Metropolitan Council of Minnesota to price $129.15 million in bonds Feb. 20

By Sheri Kasprzak

New York, Feb. 14 - The Metropolitan Council of Minnesota will price $129.15 million in three series of bonds on Feb. 20, an official statement said Thursday.

The offering includes $40.3 million in series 2008B general obligation transit bonds, $80 million in series 2008C general obligation wastewater revenue bonds and $8.85 million in series 2008D general obligation wastewater revenue refunding bonds.

The bonds will be sold competitively.

The 2008B bonds will have maturities from 2009 to 2028 and the 2008C bonds also have maturities from 2009 to 2028. The 2008D bonds have maturities from 2009 to 2014.

The deal is expected to settle March 12, the official statement said.

Proceeds from the series B bonds will be used for capital expenses outlined in the council's transit master plan and transit capital improvement plan. The C bonds will be used to acquire and improve equipment in the district's wastewater system and the D bonds will be used to refund the council's outstanding general obligation promissory note issued in 1993.

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