CHICAGO - Kansas City, Mo., will roll out a series of new and restructuring transactions over the next month - beginning today with the sale of $200 million of water bonds - as the city seeks to raise funds for projects and resolve issues stemming from the failure of its insured variable-rate debt.
The city will take retail orders today and price the bonds institutionally tomorrow. Merrill Lynch & Co. is the senior manager. Public Financial Management Inc. and TKG & Associates are financial advisers, with Gilmore & Bell and the Martinez Law Firm serving as bond counsel. The bonds carry an A1 from Moody's Investors Service and a AA-plus from Standard & Poor's.