Municipal Calendar: Sutter Health preps $300 million bond deal

Week of April 8

MIDLOTHIAN INDEPENDENT SCHOOL DISTRICT (TEXAS): $56,357,637.05 series 2013A tax-exempt refunding bonds; negotiated; First Southwest Co. (lead); Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); proceeds to refund the district's series 2005 and 2006 unlimited tax school building bonds; pricing week of April 8.

• $56,025,000 current interest bonds

• $332,637.05 capital appreciation bonds

OKLAHOMA HOUSING FINANCE AGENCY: $57,295,000 of single-family mortgage revenue refunding bonds; negotiated; George K. Baum & Co. (lead); BofA Merrill Lynch and BOSC, Inc. (co-managers); due Sept. 1, 2041; proceeds to refund series 2009C-1 and series 2009C-2 bonds on May 1; pricing week of April 8.

• $24,935,000 series 2013A taxable bonds

• $32,360,000 series 2013B taxable bonds

SUTTER HEALTH (CALIFORNIA): $300 million taxable bonds; negotiated; Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); Sutter Securities Inc. (co-manager); proceeds to finance capital projects, including reimbursement for prior capital expenditures; pricing week of April 8.

• $100 million series 2013A bonds

• $100 million series 2013B bonds

• $100 million series 2013C bonds

Week of April 15

April 16

BELLEVUE (WASHINGTON): $73,295,000 series 2013 limited tax general obligation bonds; competitive; Seattle-Northwest Securities Corp. (financial adviser); bonds due 2013 to 2037; proceeds to construct, repair, acquire and equip streets, sidewalks and other capital improvements as part of the city's capital improvement program plan; pricing April 16.

April 17

MULTNOMAH COUNTY SCHOOL DISTRICT NO. 1 (OREGON): $148.74 million of general obligation bonds (Aa1//); competitive; Seattle-Northwest Securities Corp. (financial adviser); proceeds to finance the costs of capital projects in the district; pricing April 17.

• $79,545,000 of series 2013A bonds due 2014 to 2015

• $69,195,000 of series 2013B bonds due 2014 to 2033

Week of April 22

April 23

WISCONSIN: $434,525,000 series 2013A general obligation bonds; competitive; bonds due 2014 to 2033; proceeds to acquire, construct, develop, extend, enlarge and improve land, water, property, highways, buildings, equipment or facilities for public purposes; pricing April 23.

On the Horizon

BIRMINGHAM WATER WORKS BOARD (ALABAMA): $154.4 million bonds (Aa2/AA/); negotiated; Raymond James/Morgan Keegan (lead); Sterne, Agee & Leach, Inc., Benchmark Securities and Securities Capital Corp. (co-managers); proceeds to advance refund the board's series 2006-A water and sewer revenue bonds due 2040 and 2043.

• $81.97 million series 2013-A water revenue refunding bonds due 2015 to 2043

• $72.43 million series 2013-B water revenue bonds due 2030 to 2043

BREVARD COUNTY SCHOOL BOARD (FLORIDA): $118,445,000 series 2013 refunding certificates of participation (Aa3//AA-); negotiated; Citigroup Global Markets Inc. and Wells Fargo Securities LLC (lead); Raymond James/Morgan Keegan and Stifel, Nicolaus & Co. Inc. (co-managers); proceeds to refund the board's series 2002, 2004A-B and 2006A certificates of participation.

• $79.12 million series 2013A COPs due 2017 to 2030

•$39,325,000 series 2013B taxable COPs due 2014 to 2022

CONNECTICUT MUNICIPAL ELECTRIC ENERGY COOPERATIVE: $71.62 million of power supply system revenue bonds; negotiated; BMO Capital Markets Corp. (lead); Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (co-managers); proceeds to finance the costs to acquire and construct generating units and to refund outstanding debt.

• $57.14 million of series 2013A bonds due 2014 to 2032 and term bonds due 2033 and 2038

• $14.48 million of series 2013B bonds due 2014 to 2018

COOK COUNTY (ILLINOIS): $90 million county road and highway improvement sales tax revenue bonds (//AAA); negotiated; Wells Fargo Securities LLC (lead); proceeds to finance road, bridge and highway infrastructure projects as part of the county's 2012 -2014 highway transportation plan.

DALLAS AND FORT WORTH (TEXAS)/DALLAS/FORT WORTH INTERNATIONAL AIRPORT: $369,415,000 series 2013A AMT joint revenue improvement bonds (A2/A+/A); negotiated; RBC Capital Markets LLC and M.R. Beal & Co. (lead); Raymond James/Morgan Keegan and Ramirez & Co. Inc. (co-managers); bonds due 2026 to 2045; proceeds to finance improvements and additions to the airport.

DISTRICT OF COLUMBIA/NATIONAL PUBLIC RADIO: $85.99 million series 2013 refunding revenue bonds (Aa3/AA-/); negotiated; Morgan Stanley & Co. LLC (lead); Loop Capital Markets LLC and J.P. Morgan Securities LLC (co-managers); proceeds to refund NPR's series 2010 revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/STATE UNIVERSITY OF NEW YORK: $271 million dormitory facilities revenue bonds; term to not exceed 21 years; proceeds to refund authority's series 2003A-B lease revenue bonds.

DOUGLAS COUNTY SCHOOL DISTRICT (GEORGIA): $116.91 million series 2013 general obligation refunding bonds (Aa2/AA+/); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2018 to 2027; proceeds to refund existing G.O. debt.

EAGLE MOUNTAIN-SAGINAW INDEPENDENT SCHOOL DISTRICT (TEXAS): $53,845,000 series 2013A unlimited tax refunding bonds; negotiated; First Southwest Co. and Baird & Co. (lead); Raymond James/Morgan Keegan and Southwest Securities Inc. (co-managers); bonds due 2016 to 2033; proceeds to refund the district's series 2006 and 2007 unlimited tax school building bonds.

ERIE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (NEW YORK): $62.5 million series 2013A school facility refunding revenue bonds (Aa3/AA-/); negotiated; Citigroup Global Markets Inc. and Ramirez & Co. Inc. (lead); bonds due 2014 and 2017 to 2028; proceeds to refund the authority's series 2009A school facility revenue bonds.

FAIRFAX COUNTY (VIRGINIA): $101,455,000 series 2013B public improvement bonds (Aaa/AAA/AAA); negotiated; Morgan Stanley & Co. LLC (lead); bonds due 2014 to 2024; proceeds to finance school, transportation, public safety, parks and recreation and other improvement, as well as to refund the county's series 2004A-B, 2005A, 2007A and 2008A public improvement bonds.

FRISCO (TEXAS): $87.02 million series 2013 general obligation refunding and improvement bonds (Aa1/AA/); negotiated; Raymond James/Morgan Keegan (lead); Baird & Co. and Citigroup Global Markets Inc. (co-managers); bonds due 2014 to 2033; proceeds to acquire firefighting apparatus and equipment, as well as to refund the city's series 2005 G.O. refunding and improvement bonds, its series 2005 combination tax and revenue certificates of obligation, its series 2005A combination tax and revenue certificates of obligation, its series 2006 G.O. bonds and its series 2006 combination tax and revenue certificates of obligation.

HAMPTON ROADS SANITATION DISTRICT (VIRGINIA): $215.22 million series 2013 wastewater revenue and refunding bonds (Aa2/AAA/AA+); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2013 and 2019 to 2033 with term bond due in 2038; proceeds to finance capital wastewater projects and refund existing revenue bonds.

HOWARD HUGHES MEDICAL INSTITUTE (MARYLAND): $1.65 billion series 2013A taxable fixed-rate bonds (Aaa/AAA/); negotiated; J.P. Morgan Securities LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); bonds due March 1, 2023; proceeds to fund an account established by the institute to create a reserve for its program spending.

ILLINOIS STATE TOLL HIGHWAY AUTHORITY: $500 million series 2013A toll highway senior revenue bonds (Aa3/AA-/AA-); negotiated; J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead); RBC Capital Markets LLC, Wells Fargo Securities LLC, Cabrera Capital Markets LLC, KeyBanc Capital Markets Inc., Mesirow Financial Inc., PNC Capital Markets LLC, Raymond James/Morgan Keegan and U.S. Bancorp Investments Inc. (co-managers); proceeds to pay for a portion of the state's 15-year, $12.1 billion capital improvement plan.

KENTUCKY HOUSING CORP.: $107.86 million in two tranches of housing revenue bonds (Aaa/AAA/); negotiated; Citigroup Global Markets Inc. and BofA Merrill Lynch (lead); due Nov. 1, 2041; proceeds to refund outstanding debt.

• $52.94 million series 2013A bonds

• $54.92 million series 2013B bonds

METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY (TENNESSEE): $377,885,000 series 2013A general obligation improvement bonds (Aa1/AA/); negotiated; Goldman, Sachs & Co. (lead); J.P. Morgan Securities LLC, Piper Jaffray & Co., Rice Financial Products Co., Jefferies & Co., Raymond James/Morgan Keegan, Duncan-Williams Inc. and Fifth Third Securities Inc. (co-managers); bonds due 2020 to 2033; proceeds to construct, equip, acquire and furnish capital projects and to retire a portion of the government's commercial paper bond anticipation notes.

METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA: $145.49 million series 2013 water revenue refunding bonds (Aa1/AAA/AA+); negotiated; Goldman, Sachs & Co. (lead for 2013A, 2013C); De La Rosa & Co. Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC and US Bancorp Inc. (co-managers for 2013A, 2013C); J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead for 2013B); proceeds to refund existing water revenue bonds.

• $90.46 million series 2013A bonds due 2013 and 2018 to 2021

• $18.7 million series 2013B taxable bonds due 2018

• $13,505,000 series 2013C-1 bonds due 2027

• $14.02 million series 2013C-2 bonds due 2025

• $8,805,000 series 2013C-3 bonds due 2023

MUSKINGHUM/GENESIS HEALTHCARE SYSTEM (OHIO): $294.94 million series 2013 hospital facilities revenue bonds (Ba1/BB+/); negotiated; Barclays (lead); PNC Capital Markets LLC and Huntington Investment Co. (co-managers); bonds due 2018, 2023, 2033, 2043 and 2048; proceeds to finance the acquisition, construction, renovation, equipping and installation of health-care facilities and to refund and retire some outstanding taxable debt.

NEW JERSEY TURNPIKE AUTHORITY: $736,105,000 series 2013 turnpike revenue bonds; negotiated; Citigroup Global Markets Inc. (lead); RBC Capital Markets LLC, PNC Capital Markets LLC, Raymond James/Morgan Keegan, Loop Capital Markets LLC and Mesirow Financial Inc. (co-managers); proceeds to refund the authority's series 2003C-1 revenue bonds, series 2005C revenue bonds and 2012D-E revenue bonds.

• $271 million series 2013C Sifma index bonds due 2017 to 2018

• $225 million series 2013D Sifma index bonds due 2022 to 2024

• $150 million series 2013E Sifma index bonds due 2022 to 2024

• $90,105,000 series 2013F fixed-rate bonds due 2026 to 2035

NORTHSIDE INDEPENDENT SCHOOL DISTRICT (TEXAS): $100 million series 2013 variable-rate unlimited tax school building bonds; negotiated; Robert W. Baird & Co. (lead); proceeds to acquire, construct, renovate, improve and equip various school facilities and sites.

NOVANT HEALTH, INC./NORTH CAROLINA MEDICAL CARE COMMISSION/INDUSTRIAL DEVELOPMENT AUTHORITY OF THE COUNTY OF PRINCE WILLIAM: $286.1 million of bonds (A1/A+/AA-); negotiated; bonds due Nov. 1, 2013 to Nov. 1, 2020 and term bonds due 2033, 2038, 2043 and 2046; J.P. Morgan Securities Inc. (lead); BofA Merrill Lynch, BB&T Capital Markets and Wells Fargo Securities LLC (co-managers); proceeds to finance the cost of additional health-care facilities, to refund certain bonds and to refinance debt.

• $146.68 million of series 2013A revenue and refunding bonds through North Carolina Medical Care Commission

• $139.42 million of series 2013B revenue and revenue refunding bonds through Industrial Development Authority of Prince William County

NOVANT HEALTH, INC. (NORTH CAROLINA): $250 million of series 2013C taxable bonds (A1/A+/AA-); negotiated; J.P. Morgan Securities Inc. (lead); BofA Merrill Lynch, BB&T Capital Markets and Wells Fargo Securities LLC (co-managers); due 2043; proceeds for corporate purposes, including to refinance long-term debt.

PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY/JUPITER MEDICAL CENTER (FLORIDA): $52 million series 2013A hospital revenue bonds; negotiated; RBC Capital Markets LLC (lead); proceeds to construct, equip, acquire, renovate and furnish the DeGeorge Pavilion project at the medical center, which includes the addition of 44 new acute care beds in a new three-story patient tower.

RICHMOND (VIRGINIA) $246.13 million series 2013 public utility revenue bonds (Aa2/AA/AA) negotiated Citigroup Global Markets Inc. (lead) BB&T Capital Markets, M.R. Beal & Co., Raymond James/Morgan Keegan and Siebert Brandford Shank & Co. LLC (co-managers) proceeds to finance improvements and expansions to the system, as well as to refund the city's series 2004 public utility revenue bonds.

• $223.91 million series 2013A revenue and refunding bonds due 2014 to 2033 with term bonds due 2038 and 2043

• $22.22 million series 2013B revenue bonds due 2018

SACRAMENTO MUNICIPAL UTILITY DISTRICT (CALIFORNIA): $311,445,000 series 2013 electric revenue refunding bonds (A1/AA-/A+); negotiated; Barclays (lead for 2013A); BofA Merrill Lynch and Citigroup Global Markets Inc. (lead for 2013B-C); BofA Merrill Lynch, BMO Capital Markets LLC, Citigroup Global Markets Inc., De La Rosa & Co., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, M.R. Beal & Co., Ramirez & Co. and U.S. Bancorp Investments Inc. (co-managers for 2013A); Barclays, BMO Capital Markets LLC, De La Rosa & Co. Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, M.R. Beal & Co., Ramirez & Co. and U.S. Bancorp Investments Inc. (co-managers for 2013B-C); proceeds to refund the district's series 2003S electric revenue refunding bonds.

• $132.63 million series 2013A revenue bonds due 2029 to 2035 with term bond due 2040

• $119.33 million series 2013B revenue refunding bonds due 2017 to 2033

• $59,485,000 series 2013C revenue refunding bonds due 2014 to 2017

SONOMA COUNTY JUNIOR COLLEGE DISTRICT (CALIFORNIA): $121.99 million series 2013 general obligation bonds (Aa2); negotiated; Piper Jaffray & Co. (lead); proceeds to advance refund portions of the district's election of 2002 series C general obligation bonds.

TENNESSEE HOUSING DEVELOPMENT AGENCY $215,905,000 series 2013 residential finance program bonds (Aa1/AA+/) negotiated RBC Capital Markets LLC (lead) Citigroup Global Markets Inc., Raymond James/Morgan Keegan, J.P. Morgan Securities LLC, Wells Fargo Securities LLC and FTN Financial Capital Markets (co-managers) proceeds to make qualified mortgage program loans.

• $27.92 million series 2013-1A AMT bonds due 2014 to 2019

• $47,985,000 series 2013-1B non-AMT bonds due 2023 to 2025 with term bonds due 2031

• $140 million series 2013-1C non-AMT bonds due 2019 to 2023 with term bonds due 2038 and 2043

UNIVERSITY OF ARKANSAS: $55,045,000 series 2013A various campus facility revenue bonds (Aa2); negotiated; Stephens Inc. and Crews & Associates (lead); bonds due 2013 to 2032 with term bonds due 2037 and 2042; proceeds to acquire, construct and equip a new classroom and laboratory building, renovate the Field Housing building for use as a performing arts center, make utility infrastructure and storm water system upgrades and make other capital improvements at the system's Fayetteville campus.

WILLIAMSON COUNTY (TEXAS): $66,655,000 series 2013 limited tax refunding bonds (//AAA); negotiated; Citigroup Global Markets Inc. and BOSC Inc. (lead); First Southwest Co. and M.R. Beal & Co. (co-managers); bonds due 2017 to 2032; proceeds to advance refund certain of the county's ad valorem tax obligations for a debt service savings.

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