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Article: DEAL IN FOCUS: Pennsylvania to See BAB-Heavy Water Sale.(Northeast)

Article from:
The Bond Buyer
Article date:
November 2, 2009
Copyright

Byline: Michelle Kaske

Pennsylvania's Commonwealth Financing Authority will issue $400 million of debt Wednesday, including $335.6 million of taxable Build America Bonds, for water and sewer projects throughout the state.

Securing the bonds are annual service payments that the Department of Community and Economic Development will make to the authority to cover debt-service costs. The payments from the DCED are subject to annual appropriation by the legislature.

This will be the first bond sale to help finance the state's new H20 grant program, which offers municipalities and local governments funds for dam rehabilitations, flood control ...

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