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Alabama Issues Public School and College Authority (PSCA) Bonds


October 26, 2017

MONTGOMERY – The Public School and College Authority (PSCA) finalized the sale of $18.4 million of capital improvement pool bonds on Wednesday, announced State Finance Director Clinton Carter. Proceeds from the sale will provide school loans to the local boards of education for Bessemer City Schools, DeKalb County Schools, Franklin County Schools, Gadsden City Schools, Leeds City Schools, Midfield City Schools, Trussville City Schools and Tuscumbia City Schools.

The PSCA Series 2017-A bonds were sold at an all-in interest rate of 2.8%, fixed for 20 years.

Additionally, the PSCA approved allocating $168,000 of available interest specific to school renovation projects to the cities of Ozark and Roanoke, as well as Geneva, Houston, Winston and Jackson counties.

Standard & Poor’s assigned a AA rating to the bonds. Moody’s rated the bonds as an Aa1 and Fitch’s scored them at an AA+ rating.

“The sale of these bonds will provide much needed relief to local boards of education in Alabama,” said State Finance Director Clinton Carter. “Governor Ivey and I were pleased to have this opportunity to help these local communities improve conditions for thousands of Alabama school children.”

For more information, please contact the Alabama Department of Finance Communications Office at (334) 242-7160.

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