Municipals Calendar: Tobacco Settlement to sell $441.07 million

MARCH 17 WEEK

WISCONSIN: $598.8 million series 2008B taxable general fund appropriation refunding bonds (/A+/); negotiated; Citigroup Global Markets (lead); proceeds to refund series 2003B general fund annual appropriation bonds; pricing expected week of March 17.

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.

MISSISSIPPI BUSINESS FINANCE CORP.: $77.24 million variable-rate demand revenue bonds (A1/VMIG1); negotiated; Morgan Keegan & Co. (lead); series 2008 bonds for Renaissance at Colon Park; pricing March 17.

March 18

ALASKA MUNICIPAL BOND BANK: $62.025 million general obligation bonds; competitive; bonds due from 2009 to 2038; Western Financial Group is financial advisor; proceeds lent to government units in Dillingham, Seward, Kodiak and Kodiak Island Borough for school renovations, public pool, long-term care facility and public safety building; pricing March 18.

MISSOURI ENVIRONMENTAL IMPROVEMENT AND ENERGY RESOURCES AUTHORITY/ASSOCIATED ELECTRIC COOPERATIVE: $71.55 million (AA/AA); negotiated; Goldman, Sachs & Co. (lead); bonds will price in a term-rate mode; bonds due 2034; proceeds to redeem outstanding principal on series 2007 refunding revenue bonds; pricing March 18.

SACRAMENTO COUNTY (CALIFORNIA): $350.675 million taxable pension funding bonds; negotiated; Morgan Stanley; bonds due 2030; bonds expected to bear interest at Libor plus a spread, which will be determined March 20; proceeds to refund and defease $346.8 million in outstanding 2004C-1 taxable pension funding bonds; pricing 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

SAN FRANCISCO AIRPORT AUTHORITY: $573 million AMT and non-AMT bonds (A1//); negotiated; Citigroup Global Markets (lead); bonds due 2009 to 2026; pricing March 18.

TOBACCO SETTLEMENT FINANCING CORP. (NEW YORK): $441.07 million asset-backed revenue bonds (/AA-/A+); negotiated; Citigroup Global Markets and Bear, Stearns & Co. (lead); Banc of America Securities, Goldman, Sachs & Co., Merrill Lynch, M.R. Beal, RBC Capital Markets, Roosevelt & Cross, Ramirez & Co. and UBS Investment Bank (co-managers); 2008A bonds due 2010 to 2012; 2008B bonds due 2009 to 2012; proceeds to refund series 2003A-2 asset-backed revenue and series 2003B-2 through series 2003B-5 asset-backed revenue bonds; pricing expected week of March 17.

TRUSTEES OF THE CALIFORNIA STATE UNIVERSITY: $403 million series 2008A systemwide revenue bonds (/AA-/A+); negotiated; Lehman Brothers (lead); E.J. De La Rosa & Co., Fidelity Capital Markets Services, Morgan Stanley, Nollenberger Capital Markets, Rice Financial Products Co., Toussant Capital Partners, SL Hare Capital, Wells Fargo Institutional Services and UBS Investment Bank (co-managers); proceeds to finance or refinance construction, acquisition, improvement and renovation of campus buildings; pricing March 18.

March 19

EAST ALABAMA HEALTH CARE AUTHORITY: $77.34 million series 2008B-1 and 2008B-2 health care facilities bonds; negotiated; Frazier Lanier Co. and Merrill Lynch & Co. (lead); proceeds refund authority's series 2003A-3 bonds; pricing March 19.

HILLSBOROUGH COUNTY (FLORIDA): $51 million non-alternative minimum tax bonds (Baa2/BBB-/); negotiated; Citigroup Global Markets (co-manager); bonds have five- to 10-year puts; pricing March 19.

NORTHERN MUNICIPAL POWER AGENCY (MINNESOTA): $94.545 million electric system revenue bonds (Aaa/AAA); negotiated; Goldman, Sachs & Co. (lead); series 2008A bonds due 2009 to 2021; series 2008B bonds due 2009 to 2017; proceeds to refund outstanding series 2002A-1, 2002A-2 and 2002B revenue bonds, terminate 2002 swap transactions and satisfy debt service account requirements; pricing March 19.

RANCHO CALIFORNIA WATER DISTRICT FINANCING AUTHORITY: $165 million (A1/AA/AA); negotiated; Citigroup Global Markets (co-manager); pricing March 19.

WISCONSIN: $366.4 million taxable general fund appropriation refunding bonds; negotiated (/A+/); Citigroup Global Markets (lead); bonds due 2009 to 2013 with term bond due 2025; proceeds to refund series 2003B bonds; pricing March 19.

YOSEMITE COMMUNITY COLLEGE DISTRICT BOARD OF TRUSTEES (CALIFORNIA): $140 million general obligation bonds (Aaa//); negotiated; Citigroup Global Markets (lead); proceeds to help construct medical school at University of California at Merced; pricing March 19.

March 20

ECONOMIC DEVELOPMENT AUTHORITY OF ROANOKE COUNTY (VIRGINIA): $58.6 million lease revenue bonds (A1); Assured Guaranty insured; proceeds to construct a recreation facility, library, public works garage and fire station and purchase police radio equipment; pricing March 20.

HACKENSACK UNIVERSITY MEDICAL CENTER/NEW JERSEY HEALTH CARE FACILITIES FINANCE AUTHORITY: $241 million revenue and refunding bonds (A3/A-); negotiated; Bear, Stearns & Co.; proceeds to construct new cancer center and parking garage; pricing March 20.

MICHIGAN STRATEGIC FUND (CONSUMERS ENERGY CO.): $67.7 million variable-rate limited-obligation refunding revenue bonds (Aaa//); negotiated; KeyBanc Capital Markets (lead); bonds initially bear interest at weekly rate; proceeds to refund existing bonds; pricing March 20.

MARCH 24 WEEK

FLORIDA: $110 million series 2008A Everglades restoration revenue refunding bonds; competitive; pricing on an 18-hour notice; pricing expected week of March 24.

March 25

ENERGY NORTHWEST (WASHINGTON): $697.17 million refunding bonds (Aaa/AA-/AA-); negotiated; Goldman, Sachs & Co. (lead); pricing in seven tranches; proceeds to refund prior lien bonds and electric revenue bonds and capital improvements at Columbia Generating Station; pricing March 25.

• $308.425 million series 2008-A project 1 electric revenue refunding bonds due 2010 to 2017;

• $241.325 million series 2008-A Columbia Generating Station electric revenue bonds due 2010 to 2012 and 2014 to 2018;

• $79.875 million series 2008-A project 3 electric revenue refunding bonds due 2010 to 2011 and 2017 to 2018;

• $5.65 million series 2008-B taxable project 1 electric revenue refunding bonds due 2009 to 2010;

• $20.515 million series 2008-B taxable Columbia Generating Station electric revenue and refunding bonds due 2009 to 2010 and 2021;

• $3.205 million series 2008-B taxable project 3 electric revenue refunding bonds due 2009 to 2010;

• $38.175 million series 2008-C Columbia Generating Station electric revenue bonds due 2021 to 2024

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.

March 26

NEW HAMPSHIRE HEALTH AND EDUCATIONAL FACILITIES AUTHORITY: $84.4 million revenue bonds (reoffering) (Aaa/AAA); Lehman Brothers (remarketing agent); bonds originally issued for university capital improvements; $24.35 million series 2006A bonds to be remarketed between March 26 and March 25, 2009.

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.

TAMPA ELECTRIC CO.: $286.8 million; refinancing of tax-exempt auction-rate bonds; pricing March 26.

March 27

RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP./RHODE ISLAND SCHOOL OF DESIGN: $93.865 million refunding bonds (Aaa/VMIG1); negotiated; UBS Investment Bank (lead); bonds bear interest at weekly rate; pricing March 27.

• $61.995 million series 2008A bonds

• $31.87 million series 2008B bonds

March 28

NEW HAMPSHIRE HEALTH AND EDUCATIONAL FACILITIES AUTHORITY: $84.4 million revenue bonds (reoffering) (Aaa/AAA); JPMorgan (remarketing agent); bonds originally issued for university capital improvements; $60.05 million in series 2006B-1 bonds will be remarketing from March 28 through March 27, 2009.

MARCH 31 WEEK

April 1

AMERICAN MUNICIPAL POWER-OHIO INC.:$450 million revenue bond anticipation notes (MIG1); bonds have one-year term; proceeds to refund $204 million in commercial paper notes and fund a $248 million Prairie State Project obligation through March 15, 2009; pricing April 1.

FRIENDSWOOD INDEPENDENT SCHOOL DISTRICT (TEXAS): $99.465 million series 2008 unlimited tax schoolhouse bonds (A1/A+/); negotiated; RBC Capital Markets and Coastal Securities (lead); Southwest Securities, Edward Jones, Wachovia Bank and UBS Investment Bank (co-managers); bonds due 2013 to 2037; proceeds to construct, acquire and equip school buildings and purchase school building sites; pricing April 1.

GRAND VALLEY STATE UNIVERSITY BOARD OF TRUSTEES: $103.68 million series 2008A general revenue refunding bonds (/AAA/); negotiated; NatCity Investments Inc. (lead); due 2008 to 2023 with term bonds due 2028 and 2033; proceeds to refund 2001B bonds, 2002 bonds, 2003 bonds, 2004 bond and 2007 bonds; pricing 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.

APRIL 7 WEEK

April 10

STATE PUBLIC WORKS BOARD (CALIFORNIA): $58 million bonds; various projects; pricing April 10.

APRIL 14 WEEK

April 15

DICKINSON INDEPENDENT SCHOOL DISTRICT (GALVESTON COUNTY, TEXAS): $60 million series 2008 unlimited tax schoolhouse bonds (A3/A-); negotiated; Southwest Securities (lead); RBC Capital Markets, Coastal Securities, Banc of America Securities, Estrada Hinojosa & Co., UBS Investment Bank (co-managers); proceeds for construction, acquisition and equipment of schools, the purchase of sites for school buildings and for the acquisition of new school buses; pricing April 15.

MARCH

INDUSTRIAL DEVELOPMENT BOARD OF MOBILE (Ala.): $246.5 million pollution control revenue bonds (A2/A); remarketing; Morgan Keegan & Co. (lead); mature June 1, 2034; pricing mid-March.

• $86.5 million series 2007-A bonds

• $80 million series 2007-B bonds

• $80 million series 2007-C bonds

OHIO HOUSING FINANCE AGENCY: $187.575 million residential mortgage revenue bonds; negotiated; George K. Baum (lead); Citigroup Global Markets, Goldman, Sachs & Co., Lehman Brothers, Butler Wick & Co., Fifth Third Securities, KeyBanc Capital Markets, Merrill Lynch, UBS Securities, SBK-Brooks Investment (co-managers); 2008A bonds due 2009 to 2018 with term bonds due 2013 and 2018; 2008B bonds due 2039; 2008C bonds due 2040; 2008D bonds due 2018 and 2029; proceeds to finance mortgage loans, refund 1998A-1 residential mortgage revenue bonds and refund outstanding general obligation bonds; pricing in March.

• $37.5 million series 2008A bonds

• $67.5 million series 2008B variable-rate bonds

• $45 million series 2008C variable-rate demand bonds

• $37.575 million series 2008D bonds

PIMA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (ARIZONA)/TUCSON ELECTRIC POWER CO.: $125.074 million series 2008A variable-rate industrial development revenue bonds; negotiated; Morgan Stanley and JPMorgan (lead); BNY Capital Markets and Wachovia Securities (co-managers); due 2029; proceeds to redeem the authority's 1997B and 1997C revenue bonds.

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.

REGENTS OF THE UNIVERSITY OF CALIFORNIA: $324 million medical center pooled revenue 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 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; 18-hour notice.

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

HARRIS COUNTY HEALTH FACILITIES DEVELOPMENT CORP. (TEXAS): $230.06 million series 2008 thermal utility revenue bonds (Aa3/AA-/); negotiated; RBC Capital Markets (lead); JPMorgan, Siebert Brandford Shank & co. and Merrill Lynch & Co.; proceeds will be loaned to the Texas Medical Center Central Heating and Cooling Services Corp. to construct first-phase projects for the corporation and fund capitalized interest.

HOUSTON INDEPENDENT SCHOOL DISTRICT (Texas): $385.4 million series 2008 limited tax schoolhouse bonds; negotiated; Merrill Lynch & Co. (lead); serial maturities from 2012 through 2033; proceeds to construct, equip and acquire school buildings and sites.

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.

MICHIGAN MUNICIPAL BOND AUTHORITY: $560 million school loan revolving fund revenue and refunding bonds (AA-/F1+); negotiated; Merrill Lynch & Co.(lead); Bear, Stearns & Co, Fidelity Capital Markets and JPMorgan (co-managers); bonds due 2048; proceeds to make loans under the school loan revolving fund, make loan payments to the state of Michigan, refund previous bonds and make deposits to reserve and clearing accounts.

• $160 million series 2008A-1 weekly rate bonds

• $100 million series 2008A-2 bonds

• $150 million series 2008A-3 term-rate bonds

• $150 million series 2008A-4 bonds

NEW YORK MORTGAGE AGENCY: $125 million homeowner mortgage revenue bonds; negotiated; Merrill Lynch & Co. (lead); Bear, Stearns & Co., Goldman, Sachs & Co., Roosevelt & Cross, Samuel A. Ramirez, Sterne, Agee & Leach and UBS Investment Bank (co-managers); series 151 bonds due 2008 and 2018 to 2019 with term bonds due 2023, 2027, 2033 and 2038; series 152 bonds due 2008 to 2017 with term bond due 2023; 153 bonds due 2047; proceeds to purchase mortgage loans and refund or replace existing bonds.

• $45.235 million series 151 fixed-rate bonds

• $29.765 million series 152 fixed-rate bonds

• $50 million series 153 variable-rate bonds

NORTHERN MICHIGAN UNIVERSITY: $109.225 million series 2008A general revenue bonds (A2); negotiated; Piper Jaffray (lead); FSA insured; series structure from 2008 to 2024 with term bonds due 2028, 2035 and 2038; proceeds to refund existing bonds and renovate residence halls; pricing postponed.

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.

PIEDMONT TRIAD AIRPORT AUTHORITY (NORTH CAROLINA): $98.115 million variable-rate airport revenue bonds and airport revenue refunding bonds; negotiated; Banc of America Securities (lead); 2008A bonds reset at weekly rate and 2008B bonds bear interest at a long-term rate; 2008A bonds due 2032 and 2008B bonds due 2029; proceeds for capital improvements, runway developments and to repay variable-rate bonds issued in 2004.

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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