BRADENTON, Fla. — The Alabama Public School and College Authority is back in the market tomorrow with the competitive sale of approximately $50 million of capital improvement bonds just two months after selling $1.07 billion of debt in the state’s largest-single bond issue.

The proceeds of tomorrow’s sale will be loaned to 18 boards of education to finance capital improvements approved by the APSCA. The issuance comes under a loan program that allows schools to borrow against a statewide 3-mill property tax, but the bonds are secured by utility, sales, and use taxes.

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