Municipals Calendar: Florida, N.Y. LGAC to price

FEBRUARY 18 WEEK

FLORIDA BOARD OF EDUCATION: $315.4 million series 2008A State Board of Education lottery revenue bonds (AA+); competitive; proceeds for school construction and renovation of schools; pricing expected week of Feb. 18.

February 19

GREATER CLEVELAND REGIONAL TRANSIT AUTHORITY: $64.12 million general obligation bonds (Aa3/A); negotiated; National City Investments, KeyBanc Capital Markets, SBK-Brooks Investment Corp. (lead); 2008A bonds mature from 2008 to 2027 and 2008B bonds mature from 2009 to 2016; proceeds to refund the authority's 1998R bonds and for capital improvements; pricing Feb. 19.

PASADENA, TEXAS: $55.4 million waterworks and sewer system revenue bonds; competitive; RBC Capital Markets is financial advisor; serials from 2010 to 2033; proceeds for improvements to the city's water and sewer system; pricing Feb. 19.

February 20

HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP. (FOR YMCA FOR THE GREATER HOUSTON AREA): $158.5 million 2008A revenue bonds; negotiated; Goldman, Sachs & Co. (lead), Merrill Lynch, Morgan Keegan, RBC Capital Markets, Wachovia Bank (co-managers); proceeds for construction, acquisition, equipment and renovation of capital projects and for debt service fund; pricing Feb. 20.

KENT, WASH.: $62.635 million in series 2008 special events center sale tax bonds and 2008 taxable special events center revenue bonds; negotiated; Piper Jaffray & Co. (lead); sales tax bonds due from 2020 to 2028 with term bonds due 2033 and 2037, revenue bonds due from 2009 to 2020; proceeds to develop 160,000 square-foot facility that includes ice arena; pricing Feb. 20.

• $52.505 million 2008 special events center sales tax bonds

• $10.13 million 2008 taxable special events center revenue bonds

METROPOLITAN COUNCIL (MINNESOTA): $129.15 million bonds; competitive; 2008B and 2008C bonds mature from 2009 to 2028 and 2008D bonds mature 2009 to 2014; proceeds from the series B bonds will be used for capital expenses outlined in the council's transit master plan and transit capital improvement plan. The C bonds will be used to acquire and improve equipment in the district's wastewater system and the D bonds will be used to refund the council's outstanding general obligation promissory note issued in 1993; pricing Feb. 20.

• $40.3 million series 2008B general obligation transit bonds

• $80 million series 2008C general obligation wastewater revenue bonds

• $8.85 million series 2008D general obligation wastewater revenue refunding bonds

NEW YORK LOCAL GOVERNMENT ASSISTANCE CORP.: $385.05 million series 2008A refunding bonds; competitive; Public Resources Advisory Group is financial advisor; serial bonds from 2009 to 2021; proceeds to refund outstanding series 1996A, 1997A and 1997B bonds; pricing Feb. 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.

PUBLIC HOSPITAL DISTRICT 1 (KING COUNTY, WASH.): $115 million limited tax and general obligation bonds (Aaa/AAA/AAA); negotiated; Morgan Stanley (lead); proceeds to refund district's outstanding hospital facilities revenue bonds series 2005A and 2005B and to finance a portion of renovations at Valley Medical Center; pricing Feb. 20.

ROCHESTER, N.Y.: $58.23 million general obligation bonds (A2) series 2008 A and 2008 B and $87.12 million bond anticipation notes (MIG 1); competitive; proceeds will refinance bond anticipation notes issued for various city purposes and redeem outstanding notes; 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.

UNION COUNTY, N.J.: $105 million ($83.726 million series 2008 general improvement bonds, $15.699 million series 2008 county vocational-technical school bonds, $5.575 million series 2008 county college bonds; competitive; proceeds for county projects, improvements at vocational-technical schools, improvements of equipment and machinery at county colleges; pricing Feb. 20.

• General improvement bonds, serials 2009 to 2028

• Vocational-technical school bonds, serials 2009 to 2022

• County college bonds, serials 2009 to 2018

February 21

BEAUMONT INDEPENDENT SCHOOL DISTRICT (TEXAS): $90 million unlimited tax school building bonds (Aaa/AAA); negotiated; UBS Investment Bank (lead); Estrada Hinojosa & Co., JPMorgan, Loop Capital Markets, Southwest Securities, Merrill Lynch & Co., Banc of America Securities, Edward Jones, Raymond James (co-managers); proceeds to construct, equip and renovate school buildings; pricing Feb. 21.

EL PASO, TEXAS: $56.655 million series 2008 general obligation bonds and $21.425 million 2008A general obligation refunding bonds; negotiated; Banc of America Securities LLC (lead); Morgan Stanley and Wachovia Bank (co-managers); 2008 bonds mature from 2010 to 2033 and 2008A bonds mature 2009 to 2014; proceeds from 2008 bonds for improvements to city's park, zoo, library and history museum; improvements to city streets, fire, police and public facilities; proceeds from 2008A bonds refund part of city's outstanding debt; pricing Feb. 21.

FORT LAUDERDALE MEDICAL INSTITUTE/MARYLAND ECONOMIC DEVELOPMENT CORP.: $155 million water and sewer revenue bonds (Aa2); competitive; proceeds to fund improvements to two water treatment plants, enhance the water supply system with new wells and sewer extension through the city; pricing Feb. 21.

HOWARD HUGHES MEDICAL INSTITUTE (THROUGH MARYLAND ECONOMIC DEVELOPMENT CORP.): $83.5 million multi-modal revenue bonds series 2008A (Aaa/VMIG1); negotiated; Citigroup Global Markets; proceeds to renovate and expand administrative headquarters; Shattuck Hammond Partners is financial advisor; pricing Feb. 21.

LYCOMING COUNTY AUTHORITY/PENNSYLVANIA COLLEGE OF TECHNOLOGY: $55 million college revenue bonds (Aaa); negotiated; National City Capital Markets; serial structure from 2016 to 2022 with term bonds due 2027, 2032 and 2037; proceeds to design, construct, equip and furnish new student housing, to renovate the campus's Lifelong Education Center, Automotive Technology Center, Metal Trades Center, pave parking lots and conduct other capital improvements; pricing Feb. 21.

MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY: $90 million project revenue bonds 2008A; negotiated; Bear, Stearns & Co. and Lehman Brothers (lead); Banc of America Securities LLC, Citigroup Global Markets, Depfa First Albany Securities LLC, Raymond James & Associates and Samuel A. Ramirez & Co. (co-managers); proceeds for deposits to the authority's project fund and debt service reserve fund; pricing Feb. 20 or 21.

MECKLENBURG COUNTY, NORTH CAROLINA: $125 million series 2008A variable-rate certificates of participation (Aa1/VMIG1); competitive; proceeds for school, court, detention center, community college and park projects; pricing Feb. 21.

FEBRUARY 25 WEEK

February 27

ILLINOIS STATE UNIVERSITY: $30.005 million series 2008 auxiliary facility system revenue bonds (A2); competitive; proceeds for capital projects, including a student fitness and kinesiology and recreation center and a power plant; pricing Feb. 27.

February 28

NEW YORK: $100 million multi-modal bonds; Bank of America (re-marketing agent); adjustable rate; pricing Feb. 28.

PASCO COUNTY SOLID WASTE ENTERPRISE, FLA.: $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.

REDEVELOPMENT AGENCY OF THE CITY OF RIALTO (CALIFORNIA): $100.11 million in tax allocation bonds (A-/BBB+); competitive; serial maturities from 2008 to 2037; proceeds to fund housing and non-housing redevelopment activities and fund reserve accounts; pricing Feb. 28.

• $46.75 million series 2008A tax-exempt bonds

• $30.795 million series 2008B taxable bonds

• $22.565 million series 2008C taxable bonds

March 1

NEW JERSEY HEALTH CARE FACILITIES FINANCE AUTHORITY/HACKENSACK UNIVERSITY MEDICAL CENTER: $85 million series 2008 revenue bonds (A3/A-); negotiated; Bear, Stearns & Co. (lead); proceeds for construction of new cancer center and 975-space parking garage; pricing March 1.

MARCH 3 WEEK

March 4

COMMONWEALTH FINANCING AUTHORITY (PENNSYLVANIA): $187.5 million series 2008A fixed-rate, federally taxable revenue bonds (A1/AA-); bonds mature from 2009 to 2027; proceeds for economic development-related grants and loans to public and private entities; pricing expected week of March 3.

METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY (TENNESSEE): $310 million general obligation bonds (Aa2/AA); competitive; proceeds to buy back commercial paper used as bond anticipation notes; pricing March 4.

March 5

THOMAS JEFFERSON UNIVERSITY (PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY) (A1): $71.55 million series 2008A and 2008B revenue bonds; negotiated; UBS Securities LLC (lead); proceeds to fund capital projects and improvements, as well as refunding the university's series 2005 revenue and refunding bonds; pricing March 5.

UNIVERSITY OF MICHIGAN (Aaa/VMIG1); $224 million series 2008A and 2008B general revenue bonds; proceeds to fund projects that include renovations to Michigan Stadium and the Stephen M. Ross School of Business; pricing March 5.

March 6

BIOLA UNIVERSITY/CALIFORNIA MUNICIPAL FINANCE AUTHORITY: $96.595 million series 2008A and 2008B refunding revenue bonds (Baa1); negotiated; Lehman Brothers (lead); proceeds to refund outstanding series 2002 variable-rate demand bonds and series 2004 taxable variable-rate demand bonds; pricing March 6.

MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/TUFTS UNIVERSITY: $59.775 million revenue bonds (Aa2/AA-); negotiated; Lehman Brothers (lead); proceeds to refund the Massachusetts Development Finance Agency series H revenue bonds; pricing March 6.

MARCH 17 WEEK

March 17

BOARD OF REGENTS OF THE UNIVERSITY OF TEXAS SYSTEM: $680 million series 2008B public higher education revenue bonds (Aaa/VMIG1); negotiated; Lehman Brothers and JPMorgan Chase & Co. (lead); rate resets weekly; proceeds to refinance $462 million outstanding certificates of participation, refund $35 million outstanding bonds and fund $182 million in campus improvements; pricing March 17.

March 18

SAN DIEGO COUNTY REGIONAL TRANSPORTATION COMMISSION (CALIFORNIA): $600 million sales tax revenue bonds (Aa2); competitive; proceeds for capital projects; pricing March 18.

• $300 million series 2008A bonds

• $300 million series 2008B bonds

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.

SAN FRANCISCO AIRPORT: $261 million AMT and non-AMT bonds (A1/A); negotiated; Citigroup Global Markets (lead); serials from 2012 to 2022; proceeds to refund existing bonds; pricing March 26.

MARCH 31 WEEK

April 1

HOWARD HUGHES MEDICAL INSTITUTE (THROUGH MARYLAND ECONOMIC DEVELOPMENT CORP.): $76.5 million refunding bonds series 2008B; negotiated; Lehman Brothers; proceeds to refund existing debt from series 1990 bonds; pricing April 1.

ILLINOIS STATE UNIVERSITY: $21.815 million series 2008 certificates of participation (A2); competitive; proceeds for new student fitness and kinesiology and recreation center, as well as power plant; pricing April 1.

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

MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY: $90 million series 2008A project revenue bonds; negotiated; Bear, Stearns & Co. and Lehman Brothers (leads); Citigroup Global Markets, Depfa First Albany Securities LLC, Raymond James & Associates and Samuel A. Ramirez & Co. (co-managers); proceeds will be used for deposits to the authority's project fund and debt service reserve fund.

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

FAIRFIELD, CONN.: $51.115 million 2008 refunding bonds; negotiated; William Blair (lead); serial structure from 2010 to 2023; proceeds refund city's 2003A and 2003B bonds.

FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION: $278 million series 2008A Florida forever revenue bonds; competitive; 18-hour notice.

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.

INDUSTRIAL DEVELOPMENT AUTHORITY (PIMA COUNTY, ARIZ.): $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.

MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY: $141.235 million series M Boston College Issue revenue bonds (Aa3/AA-); negotiated; Lehman Brothers (lead); due from 2023 to 2028 with term bonds due 2030 and 2035; proceeds for renovations on campus, the construction of administrative building and construction of stairs at a campus building.

PALM BEACH COUNTY SCHOOL BOARD: $112.7 million series 2007B certificates of participation; remarketing; Bear, Stearns & Co.; certificates issued in March 2007 to finance the acquisition and construction of facilities.

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

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.

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.

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