Midland County Fresh Water, Texas, organizes $201.78 million bond deal

By Sheri Kasprzak

New York, Sept. 6 - The Midland County Fresh Water Supply District of Texas plans to sell $201,782,006.20 of series 2012 revenue refunding bonds and revenue notes, according to a preliminary official statement.

The deal includes $71,245,000 of series 2012 revenue refunding bonds and $130,537,006.20 of series 2012A revenue notes.

The bonds and notes (Aa3/AA+/) will be sold through senior managers Estrada Hinojosa & Co. Inc. and Wells Fargo Securities LLC. The co-managers are BOSC Inc., Frost Bank and J.P. Morgan Securities LLC.

The 2012 revenue refunding bonds are due 2014 to 2028 with a term bond due in 2039. The 2012A revenue notes are due 2029 to 2038 with a term bond due in 2041.

Proceeds will be used to construct, acquire, develop, equip and renovate infrastructure to source and deliver groundwater from the T-Bar Ranch to the city of Midland, Texas, as well as to refund existing revenue notes.

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