CHICAGO — Milwaukee will competitively sell up to $50 million of general obligation corporate-purpose qualified school construction bonds on behalf of the Milwaukee Public Schools today in a deal that will help the struggling district pay for capital projects and maintenance.

The issue marks one of a handful and one of the largest to be sold competitively under the tax-credit program established in the federal stimulus law. Though the number of investors for QSCBs is limited and some small, unrated deals have had trouble in competitive sales finding buyers, Milwaukee Comptroller W. Martin Morics’ office, which sells bonds on the district’s behalf, expects the issue will do well given its size and the city’s strong ratings.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.