Municipal Calendar: Massachusetts Water preps $204 million deal

Week of May 6

BEACON HEALTH SYSTEM OBLIGATED GROUP (INDIANA): $156,715,000 series 2013 hospital revenue bonds (/AA-/AA-); negotiated; Wells Fargo Securities LLC and J.P. Morgan Securities LLC (lead); proceeds to refund Beacon's series 1998 and 2008B bonds; pricing week of May 6.

• $115,585,000 series 2013A bonds through Indiana Finance Authority

• $41.13 million series 2013C bonds through Hospital Authority of St. Joseph County

BLOOMFIELD HILLS SCHOOLS (MICHIGAN): $58.65 million series 2013 unlimited tax school building and site bonds (Aaa); negotiated; J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC (lead); bonds due 2016 to 2036 with term bond due in 2039; proceeds to construct and equip a new high school, remodel the existing Andover High School and make other improvements to school facilities; pricing week of May 6.

HOUSTON (TEXAS): $190 million series 2013B combined utility system revenue and refunding bonds (Aa2/AA/); negotiated; Loop Capital Markets LLC (lead); Citigroup Global Markets Inc., Mesirow Financial Inc. and Siebert Brandford Shank & Co. LLC (co-managers); proceeds to construct, improve and repair the utility system, as well as to refund all or a portion of the city's series B commercial paper; pricing week of May 6.

ILLINOIS HOUSING DEVELOPMENT AUTHORITY: $127,605,000 series 2013B taxable housing bonds (Aa3); negotiated; Ramirez & Co. Inc. (lead); Citigroup Global Markets Inc., Fidelity Capital Markets, Mesirow Financial Inc. and Williams Capital Group LP (co-managers); bonds due 2014 to 2023 with term bonds due 2033, 2038, 2043 and 2047; proceeds to acquire unassigned mortgage loans; pricing week of May 6.

ILLINOIS FINANCE AUTHORITY/UNIVERSITY OF CHICAGO: $150 million series 2013A revenue bonds (Aa1/AA/AA+); negotiated; Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC (lead); Cabrera Capital Markets LLC, Loop Capital Markets LLC and The Northern Trust Co. (co-managers); proceeds to construct and renovate educational facilities for the university, as well as to refund the university's series 2001A, 2004A and 2007 revenue bonds; pricing week of May 6.

MASSACHUSETTS HOUSING FINANCE AGENCY: $115 million series 2013B non-AMT housing bonds (Aa3); negotiated; Barclays (lead); proceeds to finance mortgage loans for qualified Massachusetts residents; pricing week of May 6.

MCALLEN INDEPENDENT SCHOOL DISTRICT (TEXAS): $85,185,000 series 2013 unlimited tax refunding bonds (Aa3); negotiated; First Southwest Co. (lead); proceeds to refund certain maturities of outstanding debt for a net present value savings; pricing week of May 6.

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; pricing week of May 6.

May 8

MASSACHUSETTS WATER POLLUTION ABATEMENT TRUST: $204,645,000 series 17 state revolving fund bonds (Aaa/AAA/AAA); competitive; Public Financial Management Inc. (financial adviser); proceeds to finance or refinance water abatement and drinking water projects; pricing May 8.

• $187.94 million series 17A bonds due 2014 to 2043

• $16,705,000 series 17B taxable bonds due 2014 to 2017

SEATTLE (WASHINGTON): $145,905,000 series 2013 general obligation bonds; competitive; Seattle-Northwest Securities Inc. (financial adviser); proceeds to construct, renovate, design, improve or replace the city's Alaskan Way Seawall, Rainier Beach Community Center, golf facilities, fire facilities, the North Precinct, financial IT upgrades, data center and police video mobile data terminals, as well as refund existing debt; pricing May 8.

• $40,755,000 series 2013A limited tax G.O. improvement bonds (Aa1/AAA/AA+) due 2014 to 2033

• $55.15 million series 2013B taxable limited tax G.O. improvement and refunding bonds (Aa1/AAA/AA+) due 2014 to 2025

• $50 million series 2013 unlimited tax G.O. improvement bonds (Aaa/AAA/AAA) due 2014 to 2042

May 9

ILLINOIS: $300 million series May of 2013 sales tax revenue Build Illinois Bonds; competitive; Public Financial Management Inc. (financial adviser); proceeds to finance state capital projects; pricing May 9.

VIRGINIA PUBLIC SCHOOL AUTHORITY: $60,205,000 series I school technology and security notes (Aa1/AA+/AA+); competitive; BB&T Capital Markets (financial adviser); notes due 2014 to 2018; proceeds to establish a computer-based instructional and testing system for the Standards of Learning and to develop the capability for high-speed Internet connectivity at high, middle and elementary schools; pricing May 9.

Week of May 13

May 14

LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY: $147,565,000 series 2013A Proposition C revenue refunding bonds (Aa3/AA+/); competitive; Public Financial Management Inc. (financial adviser); bonds due 2014 to 2023; proceeds to refund existing debt; pricing May 14.

May 15

LONG BEACH UNIFIED SCHOOL DISTRICT (CALIFORNIA): $50 million election of 2008 series C general obligation bonds (Aa2/AA-/); competitive; Keygent LLC (financial adviser); proceeds to construct, equip, renovate and repair district facilities; pricing May 15.

On the Horizon

ABAG FINANCE AUTHORITY FOR NONPROFIT CORPORATIONS/ESKATON PROPERTIES INC. (CALIFORNIA): $53,085,000 series 2013 revenue refunding bonds (/BBB/); negotiated; Cain Brothers Inc. (lead); bonds due 2013 to 2023 with term bond due in 2035; proceeds to refund the corporation's series 2008B variable-rate revenue refunding bonds.

CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY/CAROLINAS HEALTHCARE SYSTEM (NORTH CAROLINA): $126,305,000 series 2013A health care revenue and refunding bonds (Aa3/AA-/); negotiated; Wells Fargo Securities LLC (lead); BofA Merrill Lynch and J.P. Morgan Securities LLC (co-managers); proceeds to construct additional health facilities for Carolinas, as well as to refund the system's series 2009A revenue 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.

• $17,995,000 series 2013A bonds

• $48.69 million series 2013B taxable bonds

DORCHESTER COUNTY SCHOOL DISTRICT NO. 2 (SOUTH CAROLINA): $93,355,000 series 2013 Growth installment purchase revenue refunding bonds (Aa3/AA-/); negotiated; Citigroup Global Markets Inc. and Piper Jaffray & Co. (lead); Edward D. Jones & Co. LP (co-manager); proceeds to refund debt.

• $11,105,000 series 2013A taxable bonds due 2013 to 2017

• $82.25 million series 2013B tax-exempt bonds due 2018 to 2028

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.

JOHNS HOPKINS HEALTH SYSTEM (MARYLAND): $148.16 million series 2013 taxable bonds (Aa3/AA-/AA-); negotiated; Goldman Sachs & Co. and J.P. Morgan Securities LLC (lead); bonds due May 15, 2018, and May 15, 2023; proceeds for general corporate purposes, as well as to refund the system's series 2008B revenue bonds.

LOUISIANA STATE BOND COMMISSION/BIONITROGEN LOUISIANA HOLDINGS LLC: $1.25 billion tax-exempt bonds; proceeds to construct five plants in Point Coupee Parish, La., to convert biomass into urea fertilizer.

MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY/JOHNS HOPKINS HEALTH SYSTEM: $61.85 million series 2013B revenue bonds (Aa3/AA-/AA-); negotiated; J.P. Morgan Securities LLC and Goldman Sachs & Co. (lead); bonds due 2029; proceeds to provide a loan to the health system.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/WILLIAMS COLLEGE: $154 million series 2013P revenue bonds (Aa1/AA+/); negotiated; J.P. Morgan Securities LLC (lead); Goldman Sachs & Co. and Morgan Stanley & Co. LLC (co-managers); proceeds to finance capital projects for the college, as well as to refund the agency's series H revenue bonds.

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

MISSOURI HIGHER EDUCATION LOAN AUTHORITY: $970.8 million series 2013-1 student loan asset-backed Libor floating-rate notes (/AA+(sf)/AAAsf); negotiated; Morgan Stanley & Co. LLC (lead); notes due June 25, 2032; proceeds to finance student loans to qualified Missouri residents.

RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP.: $51.87 million series 2013 higher educational facilities revenue refunding bonds; negotiated; Raymond James/Morgan Keegan (lead); Oppenheimer & Co. and Roosevelt & Cross Inc. (co-managers); proceeds to construct an addition to the university's social science and multicultural center, design and construct 1,000 parking spaces, construct a controlled-access parking lot and to current refund the university's series 1997 bonds.

• $6,065,000 series 2013A educational and general revenue refunding bonds (Aa3/A+/) due 2013 to 2023

• $9,075,000 series 2013B educational and general revenue refunding bonds (A1) due 2013 to 2023

• $24.02 million series 2013C auxiliary enterprise revenue refunding bonds (Aa3/A+/) due 2013 to 2024

• $12.71 million series 2013D auxiliary enterprise revenue refunding bonds (A2) due 2013 to 2023

STANFORD UNIVERSITY (CALIFORNIA): $150 million series 2013 taxable bonds (Aaa/AAA/AAA); negotiated; Goldman Sachs & Co. and Barclays (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Prager & Co. LLC and Wells Fargo Securities LLC (co-managers); proceeds for general corporate purposes including to finance and refinance capital expenditures.

UNIFIED GOVERNMENT OF ATHENS-CLARKE COUNTY (GEORGIA): $52,975,000 series 2013 jail expansion project general obligation sales tax bonds (Aa1/AA/); negotiated; Baird & Co. (lead); bonds due 2013 to 2018; proceeds to construct or renovate jail facilities in Athens, Ga.

UNIVERSITY OF CHICAGO: $200 million series 2013B taxable bonds (Aa1/AA/AA+); negotiated; Wells Fargo Securities LLC and BofA Merrill Lynch (lead); PNC Capital Markets LLC, US Bancorp Investments Inc. and William Blair & Co. (co-managers); proceeds to finance general university capital needs.

VIRGINIA HOUSING DEVELOPMENT AUTHORITY: $310 million series 2012C commonwealth mortgage bonds remarketing (Aaa/VMIG1/A-1+/); proceeds originally to finance mortgage loans.

• $90 million C-STEM V bonds

• $80 million C-STEM VI bonds

• $70 million C-STEM VII bonds

• $70 million C-STEM VIII bonds

WAYNE STATE UNIVERSITY (MICHIGAN): $81.63 million series 2013A general revenue bonds (Aa2/AA-/); negotiated; BofA Merrill Lynch and PNC Capital Markets LLC (lead); bonds due 2015 to 2034 with term bonds due 2039 and 2044; proceeds to construct and equip a multidisciplinary biomedical research center, renovate classrooms, construct a new laboratory and make upgrades to the electrical system.

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