The Portland Community College District plans to hit the market next week with a $200 million competitive issue.

Thursday’s sale is the first from a $374 million bond authorization approved by the district’s voters in November, said financial adviser Chip Pierce of Western Financial Group LLC.

“The district historically does one of these about every 10 years,” he said.

The Community College District is centered in Portland, the state’s largest city, but extends into five different counties.

The general obligation bonds are backed by the full faith and credit of the district, and a covenant to levy a direct property tax levy.

At press time, no ratings had been issued for the forthcoming sale. The district’s most recent underlying ratings, from May 2008, were Aa2 from Moody’s Investors Service and AA from Standard & Poor’s.

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