Florida Expressway Agency Caps Off Major Debt Push With $92M Issue

Sigo, Shelly
April 2003
Bond Buyer;4/7/2003, Vol. 344 Issue 31609, p3
Trade Publication
The Orlando-Orange County Expressway Authority will sell 92 million dollars of revenue bonds on April 7, 2003, the final step in a four-phase 1.1 billion dollar deal that is believed to be the largest combined offering to be undertaken in Florida. The Series 2003D bonds will be sold as variable-rate new-money debt with short-term ratings based on a 10-year standby bond purchase agreement from Dexia Credit Local and a long-term rating based on insurance from Financial Security Assurance Inc. Proceeds of the sale will go toward the authority's 781 million dollar, five-year work plan that includes 85 capital projects.


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