By Chris Wack
Lake Havasu City, Ariz., plans to issue $102.9 million of bonds to provide funds for refunding previously issued bonds.
The Series 2025 Senior Lien Wastewater System Revenue General Obligation Refunding Bonds will mature from 2026 through 2043, according to documents posted Friday on MuniOS.
Interest on the tax-exempt bonds is payable each July 1 and Jan. 1, starting Jan. 1, 2026. Yields and interest rates have not yet been determined. The bonds will be priced on April 1, and are expected to be delivered on or about April 17.
Proceeds from the bond sales will be used to pay off outstanding Series 2015 B bonds. Principal of and interest on the direct and general obligation bonds will be payable from the revenue derived from the city of Lake Havasu City from the operation of its wastewater system.
Lake Havasu City was established in 1963, and has grown into a popular tourist destination. Its current population exceeds 59,000 people, and it has about 700 city employees.
Fitch assigned the bonds a rating of AAA, and S&P Global Ratings gave them a rating of AA.
Stifel, Nicolaus is serving as the lead manager on the issuance.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 24, 2025 13:04 ET (17:04 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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