$1.1B of Trans Planned

Los Angeles County plans to market $1.1 billion of tax and revenue anticipation notes on July 2.

Wells Fargo Securities is the lead underwriter. Other underwriters are Barclays, Morgan Stanley, Jefferies & Co., Oppenheimer & Co. and SNW Securities.

The notes are being issued to provide money to help meet fiscal 2012-13 county general fund expenditures, including current expenses, capital expenditures and the discharge of other obligations or indebtedness.

County supervisors adopted a resolution on May 15 authorizing issuance of the notes.

The notes are general obligations of the county, payable only from unrestricted taxes, income revenue, cash receipts and other moneys attributable to fiscal year 2012-12.

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California
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