Union County, N.J., plans $105 million offering of three bonds

By Sheri Kasprzak

New York, Feb. 6 - Union County, in New Jersey is planning to price $105 million in bonds, according to a preliminary official statement.

The offering includes $83.726 million in series 2008 general improvement bonds and $15.699 million in series 2008 county vocational-technical school bonds and $5.575 million in series 2008 county college bonds.

The bonds will be sold on a competitive basis.

The general improvement bonds will be sold in a serial structure from 2009 to 2028.

The vocational-technical school bonds will be sold in a serial structure from 2009 to 2022.

The county college bonds also have a serial structure from 2009 to 2018.

The bonds are set to price Feb. 15, according to the preliminary official statement.

Proceeds from the general improvement bonds will be used for several county projects, including bridge improvements, roads and bridge construction, drainage and sewer projects, parks and recreation improvements, renovations to jail equipment and sidewalk construction.

The proceeds from the vocational-technical school bonds will be used for improvements on two halls at county vocational-technical schools; for computers, equipment and machinery; and for other assorted improvements.

The county college bonds will be used for improvements, equipment and machinery.

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