By Stephen Nakrosis

The Charlotte Country Industrial Development Authority is offering almost $80 million in utility system revenue bonds to finance water and wastewater system improvements in Florida.

The offering is structured in three tranches, with the first $5.3 million in term bonds being due on Oct. 1, 2035. The next tranche, of $12.9 million in term bonds, will be due Oct. 1, 2045, and the final $61.5 million in term bonds will come due on Oct. 1, 2055, according to documents on MuniOS. Yield and price for the bonds have not been set yet.

The bonds are exempt from federal and Florida state taxes, and will be offered only to accredited investors. No application has been made for a rating for the bonds.

Proceeds from the Series 2025 bonds will be used to finance the acquisition, constructing and equipping of certain improvements to water treatment, wasterwater facilities and transmission lines, along with other projects, in Charlotte County, Florida. The improvements are located within the Babcock Ranch Community, a 17,000-plus acre development planned for about 19,500 residential units. The community is also slated to include hotels, golf courses, parks, school and civic facilities.

The bonds will be secured by a lien on and pledge of a trust estate, which includes the Authority's right, title and interest in promissory note, loans, mortgages and other instruments and funds.

The offering is expected to price on Aug. 6, with closing and delivery scheduled for Aug. 19.

Jefferies is listed as the offering's lead manager.

-Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 24, 2025 15:08 ET (19:08 GMT)

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