By Josh Beckerman
School District No. 5 of Lexington County and Richland County, South Carolina, plans to sell $75 million of general obligation bonds.
The sale will include $60 million of Series 2025 A bonds with maturities ranging from 2026 through 2045, according to an offering document posted on MuniOS. Series 2025 B consists of $15 million of bonds maturing in 2026.
Competitive bids will be received April 1 for the tax exempt bonds. Delivery is expected on or about April 15.
Voters approved a bond referendum in November for various projects such as security upgrades including cameras and secure vestibule entrances, construction, renovation and a Small Business Incubator/Student Center at Irmo High School.
The district's full faith, credit, resources and taxing power will be pledged, according to the offering document.
The Series 2025 A bonds have ratings of Aa1 from Moody's Ratings and AA from S&P Global Ratings upon the basis of state statutory intercept provisions. They were assigned underlying ratings of Aa2 by Moody's and AA by S&P.
The Series 2025 B bonds received ratings of MIG 1 from Moody's and A-1+ from S&P.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 26, 2025 16:24 ET (20:24 GMT)
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