BRADENTON, Fla. - The Florida Municipal Power Agency on Sept. 4 expects to price approximately $560 million of new-money and refunding revenue bonds, including the first of seven transactions it has planned in order to exit $871 million of outstanding auction-rate debt.

Proceeds from $490 million of fixed-rate, tax-exempt Series 2008A bonds will include $200 million of new money to fund construction of a 300-megawatt, natural gas-fired generator. Proceeds also will refund about $178.2 million of auction-rate securities and refinance $75 million of loan obligations as well as pay costs of issuance.

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