Municipals Calendar: Utah Transit plans $700 million

MARCH 24 WEEK

March 26

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEVELOPMENT BANK: $59.635 million; negotiated; pricing March 26.

CHESTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/WEST CHESTER UNIVERSITY OF PENNSYLVANIA: $99.605 million series 2008A student housing revenue bonds (Aa2/VMIG 1); negotiated; Morgan Keegan & Co.; pricing March 26.

DALLAS FORT WORTH INTERNATIONAL AIRPORT: $337.075 million bonds; negotiated; pricing March 26.

HACKENSACK UNIVERSITY MEDICAL CENTER: $241.285 million bonds; negotiated; Bear, Stearns & Co.; pricing March 26.

MEMPHIS SHELBY COUNTY AIRPORT: $66 million bonds; negotiated; pricing 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.

NEWPORT NEWS (VIRGINIA): $58.515 million general obligation bonds (Aa2/AA/); competitive; 2008A bonds due 2011 to 2028; 2008B bonds due 2009 to 2028; proceeds for improvement projects to public buildings, schools, streets, parks and extensions to the water system; pricing March 26.

• $33.135 million series 2008A general obligation bonds

• $25.38 million series 2008B general obligation water bonds

PEW CHARITABLE TRUSTS: $200 million variable-rate bonds (Aa3//); negotiated; PNC Capital Markets (lead); bonds bear interest at weekly rate; pricing March 26.

• $180 million series 2008A bonds

• $20 million series 2008B bonds

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.

SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY: $66 million (Aa1/AAA/); negotiated; Merrill Lynch & Co. and Citigroup Global Markets (lead); Bear, Stearns & Co., Dougherty & Co. and Wells Fargo Brokerage Service; series 2008A due 2009 and 2015 to 2018; series 2008B bonds due 2009 to 2014 with term bonds due 2023, 2028 and 2038; proceeds deposited to mortgage loan account, capital reserve fund and mortgage reserve fund; pricing March 26.

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

UNIVERSITY OF TEXAS SYSTEM: $150 million series 2008A permanent university fund flexible-rate notes (Aaa/VMIG1/AAA/); competitive; proceeds to fund capital improvements; pricing March 26.

UTAH TRANSIT AUTHORITY: $700 million sales tax revenue bonds (Aa3/AAA/AA); negotiated; UBS Investment Bank (lead); 2008A bonds due 2018 to 2028 with term bonds due 2033 and 2038; proceeds to acquire and construct system improvements; pricing March 26.

March 27

ADVOCATE HEALTH CARE NETWORK/ILLINOIS FINANCE AUTHORITY: $152.475 million series 2008 variable rate bonds (Aa3/VMIG 1); negotiated; Citigroup Global Markets; proceeds to refund the auction rate series 2005A and B bonds and series 2007A and B bonds.

COMMUNITY UNIT SCHOOL DISTRICT NO. 5 (MCLEAN & WOODFORD COUNTIES, ILL.): $81.855 million series 2008 general obligation school bonds (Aaa/AAA/-); negotiated; First Midstate Inc. and Wachovia Securities; maturities from 2009-2015, 2017-2018 and 2020-2023; proceeds for new schools and school renovations and to refund an outstanding portion of series 1997 and 1998 general obligation bonds; pricing March 27.

EASTERN MUNICIPAL WATER DISTRICT (RIVERSIDE COUNTY, CALIF.): $54.575 million series 2008B variable-rate water and sewer revenue certificates of participation (Aa3/AA-/AA); negotiated; UBS Investment Bank (lead); certificates due 2035; proceeds to prepay 2006B installment payments and refund the 2006B auction-rate certificates; pricing March 27.

JACKSONVILLE PORT AUTHORITY: $90 million series 2008 revenue bonds (//A); negotiated; Morgan Stanley (lead); JPMorgan, Ramirez & Co., Siebert Brandford Shank & Co. (co-managers); bonds due 2009 to 2027 with term bonds; proceeds to finance or refinance expenses related to marine facilities project and purchase insurance policy to fund reserve account; pricing March 27.

ILLINOIS FINANCE AUTHORITY: $155.645 million series 2008A revenue bonds (Aa3//AA); negotiated; Citigroup Global Markets (lead); Loop Capital Markets and Cabrera Capital Markets (co-managers); due 2030; proceeds to refund authority's series 2007A-1 and 2007A-2 bonds.

• $51.88 million series 2008A-1

• $51.88 million series 2008A-2

• $51.885 million series 2008A-3

MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/TUFTS UNIVERSITY: $140.6 million variable-rate demand revenue bonds; negotiated; Lehman Brothers (lead); bonds reset at weekly rate; bonds due 2026, 2034 and 2040; proceeds to refund series 2004K auction-rate bonds and series 2006L auction-rate bonds; pricing March 27.

• $86.4 million series 2008N-1 bonds

• $54.2 million series 2008N-2 bonds

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

TUSCALOOSA COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (ALABAMA): $75 million gulf opportunity zone bonds (Aaa/VMIG1); competitive; 2008A and 2008B bonds; proceeds for economic development to areas hit by hurricanes Katrina, Wilma and Rita; pricing March 27.

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

ADVOCATE HEALTH CARE NETWORK/ILLINOIS FINANCE AUTHORITY: $152.475 million series 2008A variable rate bonds (Aa3/VMIG 1); negotiated; Citigroup Global Markets; proceeds to refund auction rate series 2005A and B bonds and series 2007A and B bonds; pricing 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.

MCG HEALTH INC./RICHMOND COUNTY DEVELOPMENT AUTHORITY: $85 million series 2008A revenue bonds (Aaa/VMGI1); negotiated; UBS Investment Bank; bonds bear interest at weekly rate; pricing April 1.

OAKBEND MEDICAL CENTER (RICHMOND, TEXAS): $75 million series 2008 variable rate hospital bonds (A1/VMIG 1); negotiated; Morgan Keegan & Co.; proceeds for new construction and to refund old debt; pricing April 1.

PENNSYLVANIA STATE UNIVERSITY: $83.075 million higher education revenue bonds (Aa2); negotiated; Lehman Brothers (lead); proceeds to refund series 1997B fixed-rate bonds for interest savings, to reimburse university for capital expenses and finance capital projects; pricing April 1.

• $75.16 million series 2008A

• $7.915 million series 2008B

APRIL 2

COUNTY OF CHESTERFIELD (VIRGINIA): $74.48 million series 2008 general obligation public improvement bonds; competitive; serial structure from 2009 to 2028; proceeds for public improvements projects throughout the county; pricing April 2.

UNIVERSITY OF MIAMI/MIAMI-DADE COUNTY EDUCATIONAL FACILITIES AUTHORITY: $$340 million series 2008A and B revenue bonds (A2); negotiated; Morgan Stanley; proceeds to refund a bank credit facility used to finance the acquisition of Cedars Medical Center and various capital improvements; pricing April 2.

APRIL 3

ANNE ARUNDEL COUNTY (MARYLAND): $87.2 million series 2008 general obligation bonds; competitive; consolidated general improvement bonds due 2009 to 2028 and consolidated water and sewer bonds due 2009 to 2036; proceeds for county capital projects, water and wastewater projects, as well as refund series A bond anticipation notes and series B water and sewer bonds; pricing April 3.

JOHNSON COUNTY (KANSAS): $98.425 million bonds; competitive; pricing April 3.

NEVADA: $131.975 million series 2008 motor vehicle fuel tax highway improvement revenue bonds; competitive; serial maturities from 2011 through 2025; proceeds to fund state highway construction projects; pricing April 3.

PORTLAND (OREGON): $554.12 million bonds; competitive; pricing April 3.

APRIL 7 WEEK

April 7

BRANDEIS UNIVERSITY/MASSACHUSETTS DEVELOPMENT FINANCE AGENCY: $62.5 million series M variable-rate demand revenue bonds (Aa3//); negotiated; Lehman Brothers (lead); proceeds to refund series L auction-rate bonds; pricing April 7.

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.

PORT NECHES-GROVES INDEPENDENT SCHOOL DISTRICT (TEXAS): $60 million series 2008 unlimited tax school building bonds; competitive; serial structure from 2009 to 2033; proceeds to acquire, construct, equip and renovate school buildings; pricing April 15.

UNIVERSITY OF THE SCIENCES/PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY: $62.4 million series 2008 revenue bonds (A3//); negotiated; UBS Securities (lead); proceeds to refund series 2005B and 2006 auction-rate bonds; 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

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.

KENT HOSPITAL FINANCE AUTHORITY/SPECTRUM HEALTH (MICHIGAN): $227.32 million revenue refunding bonds (Aa3/AA/); negotiated; Citigroup Global Markets (lead); includes 2008A-1, 2008A-2, 2008A-3 and 2008A-4 bonds; proceeds to refund series 2001B and 2007 bonds.

REGENTS OF THE UNIVERSITY OF CALIFORNIA: $324 million medical center pooled revenue bonds; pricing expected in April.

ON THE HORIZON

ASCENSION HEALTH/HEALTH AND EDUCATIONAL FACILITIES AUTHORITY OF MISSOURI: $102.05 million series 2008C revenue bonds (Aa1/AA/AA+); negotiated; Citigroup Global Markets and Morgan Stanley; to bear interest at long-term rate; bonds to be issued in exchange for correlating number of series 2003 bonds from Missouri issuers; pricings may occur April 11, April 18 and May 9.

ASCENSION HEALTH/INDIANA FINANCE AUTHORITY: $224.175 million series 2008E revenue bonds; negotiated; Citigroup Global Markets and Morgan Stanley; bonds issued in exchange for correlating number of series 2003 bonds from Indiana issuers; pricings may occur April 11, April 18 and May 9.

DEVELOPMENT AUTHORITY OF RICHMOND COUNTY/MCGHEALTH (GEORGIA): $135 million series 2008A (Aaa/AA/-) and 2008B revenue bonds (Aa1/A+/-); negotiated; UBS Investment Bank; proceeds to finance costs of acquisition and construction on the Augusta, Ga., medical campus.

• $85 million series 2008A bonds

• $50 million series 2008B bonds

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.

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

INDIANAPOLIS: $166.445 million second-lien multi-modal revenue refunding bonds; negotiated; Morgan Stanley (lead); 2008A bonds due 2030 and 2008B bonds due 2027; proceeds to refund series 2001B multi-modal bonds.

• $56.255 million series 2008A bonds

• $56.195 million series 2008B bonds

INDIANAPOLIS: $53.995 million fixed-rate bonds; negotiated; Morgan Stanley (lead); 2008A bonds due 2025 and 2008B bonds due 2023; proceeds refund 2001B multi-modal bonds.

• $26.995 million series 2008A

• $27 million series 2008B

LANCASTER PORT AUTHORITY (OHIO): $348.25 million gas supply variable-rate revenue bonds (Aaa/VMIG1); negotiated; RBC Capital Markets (lead); due 2038; proceeds to prepay a 30-year gas supply to the authority, make scheduled interest rate swap payments and make a deposit to a debt service reserve fund.

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.

MESA UNIFIED SCHOOL DISTRICT NO. 4 (MARICOPA COUNTY, ARIZ.): $50 million school improvement bonds (Aa3/AA-/); negotiated; RBC Capital Markets (lead); series 2008C bonds due 2009 and 2013 through 2017; proceeds for school improvements and bus purchases

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.

PEMBROKE PINES (FLORIDA): $64.27 million series 2008 charter school revenue bonds (Aaa/AAA/); negotiated; RBC Capital Markets (lead); bonds due 2032 and 2038, insured by Assured Guaranty; proceeds to finance or refinance construction, acquisition and equipment of existing charter school building and refund the city's 2001A and 2001B charter school revenue bonds.

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 BERNARDINO, CALIF.: $160.04 million pension obligation refunding bonds; negotiated; Goldman, Sachs & Co. (lead); proceeds to refund series 2004B pension obligation bonds.

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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