BRADENTON, Fla. — Miami-Dade County is pricing $487.5 million of water and sewer revenue bonds this week as the first deal supporting a multi-billion dollar initiative to finance improvements.

Final pricing of $339 million of new-money bonds and $148.4 million of refunding bonds is Thursday, after a retail order period on Wednesday, a spokesperson said. The 2013A new bonds will be structured with serial and term maturities ending in 2042. Principal payments on the bonds will be back loaded with most of it paid between 2040 and 2042.

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