Municipal Calendar: Sacramento Utility preps $311.4 million deal

Week of April 15

BEXAR COUNTY (TEXAS): $125 million series 2013A combination tax and revenue certificates of obligation (/AA+/AAA); negotiated; Loop Capital Markets LLC (lead); proceeds to finance various public improvements; pricing week of April 15.

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; pricing week of April 15.

• $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

CALIFORNIA HOUSING FINANCE AGENCY: $133.92 million series 2013 residential mortgage revenue refunding bonds (Aaa); negotiated; BofA Merrill Lynch (lead); proceeds to refund existing bonds issued to fund mortgage loans; pricing week of April 15.

• $100.35 million series 2013A taxable bonds

• $33.57 million series 2013B taxable bonds

CLAYTON COUNTY WATER AUTHORITY (GEORGIA): $66,685,000 series 2013 water and sewage revenue refunding bonds (Aa2); negotiated; Raymond James/Morgan Keegan (lead); proceeds to refund the authority's series 2003 and 2004 bonds for a $7.1 million net present value savings or 10.6% of refunded principal with no extension of maturities; pricing week of April 15.

• $17,995,000 series 2013A bonds

• $48.69 million series 2013B taxable bonds

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; pricing week of April 15.

DENVER SCHOOL DISTRICT NO. 1 (COLORADO): $578 million series 2013 certificates of participation (//AA); negotiated; RBC Capital Markets LLC (lead); proceeds to construct two new schools, improve streets and athletic fields and refund all outstanding variable-rate COPs; pricing week of April 15.

• $519.8 million series 2013B taxable refunding COPs

• $58.2 million series 2013C COPs

EL PASO COUNTY HOSPITAL DISTRICT (TEXAS): $256 million series 2013 certificates of obligation and general obligation refunding bonds (//AA); negotiated; BofA Merrill Lynch (lead); proceeds to fund the acquisition, construction and equipment of three outpatient medical clinics, a satellite emergency center, renovations to some existing facilities and to refund the district's series 2005 bonds; pricing week of April 15.

• $140 million series 2013 combination tax and revenue certificates of obligation

• $116 million series 2013 G.O. refunding bonds

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; pricing week of April 15.

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; pricing week of April 15.

• $52.94 million series 2013A bonds

• $54.92 million series 2013B bonds

MASSACHUSETTS CLEAN ENERGY COOPERATIVE CORP.: $50,945,000 series 2013 revenue bonds (A1//A+); negotiated; Wells Fargo Securities LLC (lead); bonds due 2015 to 2028 with term bond due in 2032; proceeds to finance the acquisition of the net capability of the Hadley Falls Facility; pricing week of April 15.

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; pricing week of April 15.

• $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

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; pricing week of April 15.

• $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; pricing week of April 15.

PENNSYLVANIA TURNPIKE COMMISSION: $95.46 million series 2013A motor license fund enhanced turnpike subordinated special revenue bonds (A1/A-/AA); negotiated; Piper Jaffray & Co. (lead); proceeds to make payments to the Pennsylvania Department of Transportation to fulfill a portion of its commitments under Pennsylvania's Act 44 transportation statute, which funds transit capital projects and provides transit operating subsidies; pricing week of April 15.

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; pricing week of April 15.

• $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

SADDLEBACK VALLEY UNIFIED SCHOOL DISTRICT (CALIFORNIA): $75 million series 2013 general obligation refunding bonds (Aa2); negotiated; Piper Jaffray & Co. (lead); proceeds to refund existing G.O. debt; pricing week of April 15.

SAN DIEGO UNIFIED SCHOOL DISTRICT (CALIFORNIA): $417 million election of 2012 series 2013C general obligation bonds (Aa3/AA-/); negotiated; Loop Capital Markets LLC (lead); Citigroup Global Markets Inc., Goldman, Sachs & Co. and J.P. Morgan Securities LLC (co-managers); proceeds to reconstruct, repair, rehabilitate and improve existing school facilities, including classrooms, libraries, bathrooms, roofs and other school property; pricing week of April 15.

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 G.O. bonds; pricing week of April 15.

ST. LOUIS COUNTY LIBRARY DISTRICT (MISSOURI): $58 million series 2013 certificates of participation (Aa2); negotiated; BofA Merrill Lynch (lead); proceeds to acquire, construct, reconstruct, furnish and equip district's library facilities; pricing week of April 15.

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; pricing week of April 15.

• $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

VIRGINIA MASON MEDICAL CENTER (WASHINGTON): $136,125,000 series 2013 taxable bonds (Baa2/BBB/); negotiated; BofA Merrill Lynch and Raymond James/Morgan Keegan (lead); bonds due Aug. 15, 2044; proceeds for general corporate purposes, including the center's charitable missions, such as the construction of the Jones Pavilion; pricing week of April 15.

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; pricing week of April 15.

Week of April 22

ST. PAUL PORT AUTHORITY (MINNESOTA): $117.26 million series 2013 lease revenue refunding bonds; negotiated; RBC Capital Markets LLC (lead); proceeds to refund the authority's series 2002-9, 2002-10 and 2003-11 lease revenue bonds; pricing week of April 22.

• $53,195,000 series 2013-2 bonds due 2013 to 2025

• $64,065,000 series 2013-3 bonds due 2013 to 2025

April 23

MILWAUKEE (WISCONSIN): $203,355,000 series 2013 general obligation promissory notes and G.O. corporate purpose bonds (/AA/SP-1+/); competitive; Public Financial Management Inc. (financial adviser); proceeds to finance capital improvements in the city and refund existing G.O. debt; pricing April 23.

• $100 million series 2013-R1 G.O. cash flow promissory notes due Dec. 5, 2013

• $85,635,000 series 2013-N2 G.O. promissory notes due 2014 to 2023

• $17.72 million series 2013-B3 G.O. corporate purpose bonds due 2024 to 2030

NEW JERSEY: $350 million series 2013 various purpose general obligation bonds; competitive; bonds due 2014 to 2033; proceeds to finance various capital projects within the state; pricing April 23.

TACOMA (WASHINGTON): $79,095,000 series 2013 water system revenue and refunding bonds (Aa2/AA/); competitive; A. Dashen & Associates and SDM Advisors Inc. (financial adviser); bonds due 2013 to 2014 and 2041 to 2043; proceeds to make capital improvements to the city's water system and to refund its series 2003 water system revenue bonds; pricing April 23.

TRAVIS COUNTY (TEXAS): $65 million series 2013 bonds and certificates (Aaa/AAA/); competitive; D. Ladd Pattillo & Associates Inc. (financial adviser); proceeds to construct and equip county law enforcement facilities, purchase computer and telecommunications equipment, construct and improve county roads and improve county parks; pricing April 23.

• $21,025,000 series 2013 limited tax certificates of obligation due 2014 to 2018

• $10,755,000 series 2013 limited tax permanent improvement bonds due 2014 to 2033

• $33.22 million series 2013 unlimited tax road bonds due 2014 to 2033

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

CABARRUS COUNTY (NORTH CAROLINA): $60,235,000 series 2013 general obligation refunding bonds (Aa1/AA+/AA+); negotiated; Piper Jaffray & Co. (lead); Southwest Securities Inc. (co-manager); bonds due 2014 and 2016 to 2027; proceeds to refund the county's series 2005 and 2006 G.O. bonds.

COMMUNITY COLLEGE DISTRICT NO. 502 (ILLINOIS): $84 million series 2013A general obligation community college bonds; negotiated; William Blair & Co. and BofA Merrill Lynch (lead); proceeds to construct new community college buildings and renovate and repair existing facilities.

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.

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.

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.

FLORIDA HOUSING FINANCE CORP.: $108.08 million series 2013A taxable homeowner mortgage revenue bonds (Aaa); negotiated; Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., RBC Capital Markets LLC, BofA Merrill Lynch, George K. Baum & Co., Janney Montgomery Scott LLC and Raymond James/Morgan Keegan (co-managers); bonds due July 1, 2041; proceeds to finance mortgage loans to qualified Florida residents.

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.

HOUSTON (TEXAS): $332.5 million series 2013 public improvement bonds (/AA/AA); negotiated; Rice Financial Products Co. (lead); Barclays, Wells Fargo Securities LLC and Backstrom McCarley Berry & Co. LLC (co-managers); proceeds to refund existing debt and to demolish dangerous structures in the city.

• $250 million series 2013A public improvement refunding bonds

• $75 million series 2013B public improvement refunding bonds

• $7.5 million series 2013A demolition program certificates of obligation

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.

IOWA FINANCE AUTHORITY/IOWA FERTILIZER CO.: $1,194,000,000 series 2013 Midwestern disaster area revenue bonds; negotiated; Citigroup Global Markets Inc. and BofA Merrill Lynch (lead); bonds due 2019, 2022 and 2025; proceeds to construct a nitrogen-based fertilizer and industrial production facility in southeastern Iowa, near the Illinois border.

LANCASTER EDUCATIONAL ASSISTANCE PROGRAM INC. (SOUTH CAROLINA)/LANCASTER COUNTY SCHOOL DISTRICT: $60,825,000 series 2013 installment purchase revenue refunding bonds (A1/A/); negotiated; BofA Merrill Lynch and Piper Jaffray & Co. (lead); Raymond James/Morgan Keegan (co-manager); proceeds to refund existing installment purchase revenue bonds for a debt service savings.

• $23,825,000 series 2013A taxable bonds due 2013 to 2020

• $37 million series 2103B tax-exempt bonds due 2021 to 2028

LOS ANGELES DEPARTMENT OF WATER AND POWER (CALIFORNIA): $162,545,000 series 2013A water system revenue bonds (Aa2/AA/AA); negotiated; Barclays and Siebert Brandford Shank & Co. LLC (lead); Fidelity Capital Markets Inc. and The Williams Capital LP (co-managers); bonds due 2016 to 2034; proceeds to refund the department's series 2003B, 2004C and 2006A water system revenue bonds.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/LOWELL GENERAL HOSPITAL: $65 million series 2013G revenue bonds (/BBB+/BBB+); negotiated; Ziegler Capital Inc. (lead); proceeds to redeem refunded bonds.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/OLIN COLLEGE: $59,835,000 series 2013E revenue bonds (A2/A+/); negotiated; Barclays and Wells Fargo Securities LLC (lead); proceeds to current refund existing debt on July 1, 2013.

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

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.

• $56,025,000 current interest bonds

• $332,637.05 capital appreciation bonds

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.

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.

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.

PORTLAND (OREGON): $242.02 million series 2013A second lien water system revenue and refunding bonds (Aa1); negotiated; Citigroup Global Markets Inc. and BofA Merrill Lynch (lead); bonds due 2013 to 2037; proceeds to finance capital improvements to the city's water system, as well as to refund the city's series 2004A and 2006A water system revenue bonds.

SOUTH CENTRAL CONNECTICUT REGIONAL WATER AUTHORITY: $94,795,000 series 2013 water system revenue bonds (Aa3/A+/); negotiated; Janney Montgomery Scott LLC and Piper Jaffray & Co. (lead); proceeds to finance water system improvements and refund existing debt.

• $31,105,000 series 2013A revenue bonds due 2013 to 2029 with term bonds due in 2033, 2038 and 2043

• $63.69 million series 2013B revenue refunding bonds due 2014 to 2029

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.

VIRGINIA HOUSING DEVELOPMENT AUTHORITY: $101,353,821 series 2013B taxable commonwealth mortgage bonds (Aaa/AAA/); negotiated; BofA Merrill Lynch (lead); BB&T Capital Markets and Morgan Stanley & Co. LLC (co-managers); bonds due April 25, 2042; proceeds to make individual mortgage loans to qualified Virginians.

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