Norfolk, Va., has completed the sale of $212.2 million sale of municipal bonds, which included the use of three different federal stimulus programs to save more than $5 million in debt service payments over traditional tax-exempt financing, according to syndicate leader Morgan Keegan & Co.

The sale priced Jan. 14 and included recovery zone facility bonds, Build America Bonds, and recovery zone economic development bonds. Proceeds will pay for capital projects, including a courthouse, a light-rail starter line, parking, and stormwater and wastewater facilities.

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