Municipals Calendar: San Francisco Airport to price $261 million

JANUARY 28 WEEK

January 30

MARYLAND DEPARTMENT OF TRANSPORTATION: $250 million consolidated transportation bonds; competitive; serials from 2011 through 2023; Public Financial Management Inc. is advisor; proceeds to fund a portion of capital projects for state highways and transit system, including buses and light rail; pricing Jan. 30.

SAN FRANCISCO AIRPORT: $261 million AMT and non-AMT bonds (A1/A); negotiated; Citigroup Global Markets (lead); serials from 2012 to 2022; pricing Jan. 30.

January 31

AUSTIN (TEXAS): $173.375 million series 2008 public improvement refunding general obligation bonds (Aa1); proceeds used to refund a portion of outstanding debt for net present value savings; pricing Jan. 31.

NEW YORK STATE POWER AUTHORITY: $775 million commercial paper notes, series 1, 2 and 3 (P-1); pricing Jan. 31.

ROCKFELLER UNIVERSITY/DORMITORY AUTHORITY OF NEW YORK: $103.215 million series 2008A revenue bonds; negotiated; Morgan Stanley; priced at weekly rate; serial structure from 2008 through 2039; proceeds for renovations to existing campus buildings and a bridging building to link two existing buildings; pricing Jan. 31.

VIRGINIA HOUSING DEVELOPMENT AUTHORITY: Remarketing $150 million Commonwealth Mortgage Bonds, series 2007 A-AMT; competitive; serials from 2009 through 2021 with $27.6 million term bond due 2026 and $46.2 million term bond due 2035; pricing Jan.31.

February 1

CARE NEW ENGLAND RHODE ISLAND HEALTH AND EDUCATION BUILDING CORP.: $84.94 million series A and B bonds (Aaa); negotiated; Banc of America Securities (lead); bonds bear interest at weekly rate and may be converted in whole by series to a daily, monthly or fixed-rate mode; pricing Feb. 1.

JANUARY

FLORIDA DEPARTMENT OF TRANSPORTATION: $342.1 million series 2008A bond issue (Aa2); competitive; serials from July 1, 2008 through July 1, 2037; proceeds to be used for a portion of the turnpike's capital improvement program and to refund series 1997A turnpike revenue bonds; department gives 18-hour notice on competitive bond sales; pricing expected in January.

FEBRUARY 4 WEEK

February 5

CITY OF GLENDALE, CALIF.: $110 million revenue bonds; $60 million in 2008 electric revenue bonds (Aa3/A+/A+) and $50 million in 2008 water revenue bonds (Aa3/A-/A); proceeds from electric revenue bonds for improvements to city's electric system and proceeds from water revenue bonds for improvements to water system; Public Financial Management is financial advisor; pricing Feb. 5. Structure is:

• $60 million series 2008 electric revenue bonds structure from 2018 to 2038

• $50 million series 2008 water revenue bonds structure from 2013 to 2038

GAINESVILLE, FLA.: $195 million bonds; $105 million in series 2008 A utilities system revenue bonds (Aa2) and $90 million in series B variable-rate utilities system revenue bonds (Aa2/VMIG 1); pricing expected Feb. 5-6; proceeds will be used to fund projects such as a new energy facility and a biosolids program.

February 6

DARTMOUTH COLLEGE: $75 million series A short-term commercial notes (P-1); negotiated; Lehman Brothers (lead); proceeds for bridge financing of capital projects and general capital needs; pricing Feb. 6.

JEA WATER & SEWER ENTERPRISE, FLA.: $150 million variable-rate water and sewer revenue bonds series 2008A-1 and series 2008A-2 (Aa3); negotiated; Morgan Stanley; bonds due in serial structure from 2010 through 2042; proceeds for extensions and improvements to the water and sewer system; pricing Feb. 6.

February 7

ANCHORAGE, ALASKA: $95 million general obligation tax anticipation notes (SP1+); competitive; First Southwest Co. is financial advisor; bonds due Dec. 30, 2008; proceeds for general expenses until ad valorem and other revenues received; pricing Feb. 7.

INDIANA UNIVERSITY: $87 million student fee bonds series S (Aa1); negotiated; JPMorgan Chase & Co. (lead); proceeds to refund tax-exempt commercial paper and finance new projects; pricing Feb. 7.

ILLINOIS STATE TOLL HIGHWAY AUTHORITY: $766.2 million senior refunding revenue bonds (Aa3); negotiated; Goldman, Sachs & Co. (lead); proceeds to refund series 2006 bonds.

FEBRUARY 11 WEEK

February 12

HOWARD COUNTY, MARYLAND: $111.525 million series 2008A and metropolitan district bonds (Aaa); competitive; proceeds to repay $107.5 million in county's consolidated public improvement commercial paper bond anticipation notes, series D and to pay for various water and sewer capital projects; pricing Feb. 12; Bonds include:

• $107.5 million consolidated public improvement bonds, series 2008A

• $4.1 million metropolitan district bonds, series 2008A

FEBRUARY 18 WEEK

February 20

ORANGE COUNTY SCHOOL BOARD, FLA.: $86.58 million series 2008A variable-rate refunding certificates of participation (A1); negotiated; Citigroup Global Markets; proceeds to refund $80.4 million in 2002A certificates; pricing Feb. 20.

TEXAS PUBLIC FINANCE AUTHORITY: $228.64 million general obligation refunding bonds (Aa1/AA/AA+); negotiated; UBS Securities LLC (lead); serials from 2009 to 2012 and a term bond due 2015.

February 21

HOWARD HUGHES MEDICAL INSTITUTE (THROUGH MARYLAND ECONOMIC DEVELOPMENT CORP.): $85 million series 2008A (Aaa/VMIG1); negotiated; Citigroup Global Markets; proceeds to renovate and expand administrative headquarters; Shattuck Hammond Partners is financial advisor; pricing Feb. 21.

FEBRUARY 18 WEEK

February 28

PASCO COUNTY SOLID WASTE ENTERPRISE (FLORIDA): $95 million ($41 million solid waste disposal and resource revenue recovery system refunding revenue bonds, series 2008B, 2008C, 2008D-1, 2008D-2 and $54 million solid waste disposal and resource revenue recovery system refunding revenue bonds, taxable series 2008A) (A2); competitive; proceeds to defease all the solid waste system's existing bonds to provide cash-flow relief, fund a debt service reserve account, provide funds for minor capital improvements; pricing Feb. 28.

MARCH 24 WEEK

March 25

ORANGE REGIONAL MEDICAL CENTER (DORMITORY AUTHORITY OF THE STATE OF NEW YORK), MIDDLETOWN, N.Y.: $260 million series 2008 bonds (Ba1); negotiated; Merrill Lynch & Co. (lead), JPMorgan Chase & Co., Morgan Stanley; serial maturities of 30 years; proceeds for construction of 374-bed replacement hospital; pricing March 25.

FEBRUARY

SWEETWATER UNION HIGH SCHOOL DISTRICT, CHULA VISTA, CALIF.: $180 million bond issue; pricing expected in mid-February.

PUERTO RICO AQUEDUCT & SEWER AUTHORITY: $1.525 billion series A and B senior lien revenue bonds and series A and B revenue refunding bonds (BBB-); pricing mid-February; structure:

• $1.227 billion in series A senior lien revenue bonds

• $20.6 million in series B senior lien revenue bonds

• $155.7 million in series A revenue refunding bonds

• $121.2 million in series B revenue refunding bonds

MARCH

UNIVERSITY OF OKLAHOMA HEALTH SCIENCES CENTER: $75 million in tax-exempt and taxable bonds; proceeds for new cancer research center; pricing expected in March or April.

APRIL

HOWARD HUGHES MEDICAL INSTITUTE: $76.5 million series 2008B refunding bonds; negotiated; Lehman Brothers (lead); proceeds to refund existing debt on the headquarters from the institute's 1990 bonds; pricing expected in April.

ON THE HORIZON

UNIVERSITY OF OKLAHOMA HEALTH SCIENCES CENTER: $100 million tax-exempt and taxable bonds; proceeds for new cancer research center; pricing expected in late spring or early summer.

SAN FRANCISCO CITY AND COUNTY AIRPORT COMMISSION: $169.5 million 34A-C senior lien variable-rate revenue refunding bond, $255 million 34D-E senior lien fixed-rate revenue refunding bonds, $110 million 34F-G senior-lien variable-rate revenue refunding bonds (A); timing not set.

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY: $140.11 million Natural Gas Project A 2008 taxable revenue bonds for Anaheim, Burbank and Colton; proceeds to refinance each city's share of natural gas project acquisition and development costs through redemption of authority's draw-down revenue bonds issued as a short-term financing for the project;

• $80.36 million Natural Gas Project A 2008 taxable revenue bonds for City of Anaheim

• $43.275 million Natural Gas Project A 2008 taxable revenue bonds for City of Burbank

• $16.475 million Natural Gas Project A 2008 taxable revenue bonds for City of Colton

INDUSTRIAL DEVELOPMENT AUTHORITY (PIMA COUNTY, ARIZONA): $195 million lease revenue bonds series 2008 (Aa2); negotiated; Lehman Brothers (lead), Wells Fargo Brokerage Services (co-manager); sold in serial structure from 2010 through 2039; proceeds to acquire 1,038-bed, 139,000 square-feet detention center in Clark County, Nevada.

HARRIS COUNTY CULTURAL EDUCATIONAL FACILITIES (TEXAS): $158.5 million series 2008A revenue bonds for YMCA of Greater Houston; negotiated; Goldman, Sachs & Co. (lead), Merrill Lynch, Morgan Keegan, RBC Capital Markets and Wachovia Bank (co-managers); bonds price in serial structure from 2010 through 2020 and include $132.855 million term bonds due 2030, 2038 and 2042; proceeds for family and therapy pools, additional facility space, parking areas and sports fields; pricing in coming weeks.

SOUTH CAROLINA PUBLIC SERVICE AUTHORITY (SANTEE COOPER): $93.155 million revenue obligation bonds; negotiated; Goldman, Sachs & Co. (lead), Citigroup Global Markets; Bear, Stearns & Co.; Merrill Lynch & Co.; and Morgan Stanley (co-managers); proceeds will be used to refund series 1997 A refunding bonds.

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