WASHINGTON - Two Virginia authorities will price a total of more than $200 million of bonds in separate negotiated deals over the next week.
The Virginia Resources Authority will price $81 million of bonds in a pool deal on behalf of 13 local issuers on July 12. About $51 million of them will be infrastructure revenue bonds that carry a triple-A rating from both Standard and Poor's and Moody's Investors Service, and are secured by payments from 13 local issuers. Another $24 million will be moral obligation bonds rated AA by Standard and Poor's and Aa2 by Moody's, and will also be backed by the local issuers. The remaining $6 million will be private activity bonds that are subject to the alternative minimum tax. The deal will close Aug. 2.