New Jersey Economic Dev Auth to sell $456.8 mln bonds Nov 4 week

Reuters

Oct 23 (Reuters) - The New Jersey Economic DevelopmentAuthority is planning to sell $456.8 million of tax-exemptprivate activity bonds for The Goethals Bridge ReplacementProject during the week of Nov. 4, a market source said onWednesday.

Proceeds from the sale will be used to finance some costsrelated to the development, design, construction operation andmaintenance of a replacement Goethals Bridge, according to thepreliminary official statement.

They will also be used for the demolition and removal of theexisting Goethals Bridge linking Elizabeth, New Jersey to StatenIsland, New York.

The lead manager on the sale is Bank of America MerrillLynch.

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