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Article: Rio Rancho, N.M., to Hit Market, Match Grant From Intel.
- Article from:
- The Bond Buyer
- Article date:
- May 7, 2002
- Author:
CopyrightCOPYRIGHT 2002 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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Rio Rancho, N.M., will sell $5 million of general obligation bonds tomorrow to finance its share of a major roadway project that also will be funded by a grant from the city's largest employer, Intel Corp.
"It is an interesting project," said Kevin Powers, a managing director with RBC Dain Rauscher Inc., the city's financial adviser. "The proceeds from the sale will help finance the widening of a major arterial that goes through the city."
Intel will kick in $5 million for the work.
The competitive sale will be held online via i-Deal Parity. The Modrall Law Firm is the city's bond counsel.
The city was upgraded last week to A1 with a ...