Florida's Pasco County Offering $197 Million of Sales Tax Revenue Bonds
By Stephen Nakrosis
The Pasco County school district will sell $197 million of bonds to finance capital improvements to various school properties.
The Series 2024 Sales Tax Revenue Bonds will be backed by the proceeds from a 1 cent local infrastructure sales tax surcharge levied by the county, according to a preliminary offering statement posted Tuesday on MuniOS.
The bonds will mature from October 2025 and through October 2039. Preliminary pricing information, along with dates of sale and settlement weren't provided.
As of now, at least four schools are set to receive proceeds from the bond sale to pay for capital projects. The district had 89 schools, and about 6,400 employees and 88,500 students in the 2023-2024 school year.
Moody's Ratings has bonds rated at Aa3, Fitch Ratings assigned a rating of AA.
BofA Securities lead manager for the sale.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 01, 2024 19:24 ET (23:24 GMT)
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