TITLE

Toledo District Races to Market With $72.5 Million GO Sale

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
April 2003
SOURCE
Bond Buyer;4/29/2003, Vol. 344 Issue 31624, p32
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The Toledo City School District plans to enter the bond market with 72.5 million dollar of general obligation bonds in an attempt to beat Ohio's other large urban school districts striving for funds as part of a 5.7 billion dollar 10-year state school facilities program. NatCity Investments Inc. and McDonald Investments Inc. will serve as co-senior managers. The district wants to issue the bonds at least 90 days before 72.5 million dollar of bond anticipation notes issued in January are due on July 23, says Matthew Stuczynski of NatCity. The enhancement program allows Ohio to use state foundation payments for debt service if the district fails to make debt service payments. The district plans to seek underlying ratings when officials return to the market to issue the second portion of the current bonding authority during 2005.
ACCESSION #
9722818

 

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