Public Utility District No. 1 of Clark County, Wash., preps $164 million bond sale for Monday

By Sheri Kasprzak

New York, June 18 - The Public Utility District No. 1 of Clark County in Washington State is set to sell $163.99 million in series 2010 generating system revenue and refunding bonds Monday, according to a sales calendar.

The bonds (A2/A/A+) will be sold on a negotiated basis with Barclays Capital Inc. leading the syndicate. The co-managers are Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.

The bonds are due 2011 to 2025 with a term bond.

Proceeds will be used to acquire, construct and install improvements to the district's generating system, finance a termination payment for a 2003 exchange agreement and refund the district's series 2000 generating system refunding revenue bonds.

The district, based in Vancouver, Wash., provides water, electric and wastewater services.

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