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Article: Texas County to Sell Pass-Through Toll Debt to Aid Highway Plans.
- Article from:
- The Bond Buyer
- Article date:
- January 18, 2007
- Author:
CopyrightCOPYRIGHT 2007 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DALLAS -- Grayson County, Tex., will go to market today with an offering of $64.5 million of pass-through toll revenue and limited-tax bonds -- a deal that marks one of just a handful of similar offerings backed by annual payments from the Texas Department of Transportation.
Ahead of today's institutional pricing, the deal opened yesterday with a retail order period for residents of Grayson County only. Preliminary retail pricing indicated that the bonds had garnered interest rates ranging between 3.75% for the 2011 maturity and 4.03% for the 2017 maturity.
The deal itself is structured as serials ranging from 2007 to 2026.
The financing will ...