Commonwealth Transportation Board, Va., intends to sell $492.67 million revenue bonds Wednesday

By Sheri Kasprzak

New York, May 10 - The Commonwealth Transportation Board of the Commonwealth of Virginia is set to bring to market $492.67 million in series 2010A transportation capital projects revenue bonds on Wednesday, according to a sales calendar.

The bonds (Aa1/AA+/AA+) will be sold competitively with Public Resources Advisory Group as the financial adviser.

The bonds are due 2011 to 2035.

Proceeds from the sale will be used to fund transit capital projects, to match federal highway funds and to finance highway capital projects throughout the state, as well as to refund existing debt.

Based in Richmond, Va., the board represents mass transit, seaport, airport and railway users.

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