Pennsylvania Intergovernmental to sell $205 million tax revenue bonds

By Sheri Kasprzak

New York, May 3 - The Pennsylvania Intergovernmental Cooperation Authority is set to sell $205 million in series 2010 special tax revenue bonds on Wednesday, according to a sales calendar.

The bonds (Aa2/AA/AA+) will be sold on a negotiated basis. Goldman, Sachs & Co. is the senior manager.

Proceeds will be used to contribute to the Philadelphia Funding Program, which assists small-business entrepreneurs.

The authority, based in Philadelphia, oversees the finances of the city of Philadelphia.

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