TITLE

Vermont Bond Bank's 2003 Sale to Hit $65M

AUTHOR(S)
D'Ambrosio, Gillian
PUB. DATE
June 2003
SOURCE
Bond Buyer;6/19/2003, Vol. 344 Issue 31660, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
In a negotiated deal likely to be nearly twice the size of its last yearly issue, the Vermont Municipal Bond Bank is gearing up to sell roughly $65 million of general obligation bonds the second week of July. Proceeds from the pooled issue will be split among 27 municipal borrowers who will then use the funds to pay for a variety of projects ranging from the purchase of new fire trucks to the paving of highways, said Malcolm Rode, executive director of the bond bank. The Montpelier, Vermont-based bond bank, which typically sells debt around this time of year, issued $34.6 million of new money on behalf of 23 borrowers last year, according to its Web site. It sold $48.5 million and $38.5 million of bonds in 2000 and 2001, respectively. In March, Fitch Ratings Inc. assigned a AA-plus rating to two series of the bank's refunding bonds totaling about $52 million and affirmed the AA-plus rating on its outstanding GO debt issued under the bank's 1988 general bond resolution.
ACCESSION #
10125550

 

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