BRADENTON, Fla. - The West Virginia School Building Authority today begins a two-day, $100 million bond offering that will launch a new, long-term financing program to assist the state's public schools with capital improvements.

The fixed-rate debt, with a final maturity in 2028, is being secured with excess lottery revenue derived from the profits of racetrack and limited video lottery games as well as some related fees. The bonds also will have a back-up pledge from West Virginia's traditional lottery revenues, which are derived from instant and online games.

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