By Stephen Nakrosis
Florida's Monroe County plans to sell $46.8 million of municipal bonds to finance capital improvements in the area.
The 2025 Infrastructure Sales Surtax Revenue Bonds will be offered to investors in a competitive sale, according to documents posted Tuesday on MuniOS. Electronic bids will be accepted until 11 a.m. EST on Jan. 21, and the securities will be available for delivery on or about Feb. 12.
Monroe County, located in the southern part of state, encompasses the Florida Keys and its communities.
The bonds are being sold to finance construction of a fire station, fleet garage facility, and generator building, among other projects.
The bonds will pay interest semiannually beginning on April 1. The debt will be secured by liens upon certain taxes collected by the county, along with other funds and accounts. They are subject to optional redemption starting on April 1, 2034.
Moody's and Fitch Ratings are expected to assign a ratings of Aa2 and AA, respectively, to the bonds, according to the preliminary official statement.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
01-14-25 1908ET