TITLE

Utah Tackles Conversion

AUTHOR(S)
Albanese, Elizabeth
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/10/2003, Vol. 344 Issue 31653, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports on the schedule of Utah for going public with 462.1 million dollars of triple-A rated general obligation bonds on June 10, 2003. A significant portion of bonds will be used to convert outstanding variable-rate debt to the lowest fixed rates available in decades. The deal includes a 150 million dollars of current refunding of the state's Series 1999A and Series 1999C variable-rate general obligation bonds, with finance officials expecting to see strong bidding for bonds. Lynne Ward, the governor's director of planning and budget, said that while the state has benefited from its use of variable-rate debt, it makes sense to fix it out now while rates are so low.
ACCESSION #
10069658

 

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