The Tennessee State School Bond Authority last Thursday finalized plans to sell up to $184 million of qualified school construction bonds.
The six-member SBA selected Barclays Capital as senior manager and JPMorgan as co-manager for the sale. A pricing date has not been decided, but officials said proceeds are expected to be available for disbursement in December.
The SBA will invest the proceeds from the bond sale in the State Pooled Investment Fund and disburse the funds to the communities to pay for expenses related to their school construction projects.
In addition to bonds for projects at 14 districts, the SBA will also sell $43 million of QSCBs for Memphis City Schools and $21.8 million for Metropolitan Nashville Public Schools. Memphis and Nashville received direct QSCB allocations from the federal government.