Municipals Calendar: Baltimore County to price $291 million in bonds

WEEK OF OCTOBER 18

CUMBERLAND COUNTY MUNICIPAL AUTHORITY/ASBURY PENNSYLVANIA OBLIGATED GROUP: $65.305 million series 2010 refunding revenue bonds; Ziegler Capital Markets and Janney Montgomery Scott LLC (lead); proceeds to refund obligated group's series 2008 variable-rate demand revenue bonds and series 2006 variable-rate demand revenue refunding bonds, as well as terminate a swap agreement related to the series 2006 bonds.

LOWER COLORADO RIVER AUTHORITY (TEXAS): $372.51 million series 2010 refunding revenue bonds (A1/A/A+); negotiated; Goldman, Sachs & Co. (lead); Barclays Capital Inc., Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. (co-lead managers); Citigroup Global Markets Inc., First Southwest Co., J.P. Morgan Securities LLC, Morgan Keegan & Co. Inc., Ramirez & Co. Inc., RBC Capital Markets Corp., Rice Financial Products Co., Southwest Securities Inc. and Wells Fargo Securities LLC; 2010A bonds due 2012 to 2030; 2010B bonds due 2011 to 2024; proceeds to refund existing series A commercial paper notes and refund its parity debt, as well as make a deposit to a debt service reserve fund; pricing week of Oct. 18.

• $242.785 million series 2010A

• $129.725 million series 2010B

WEEK OF OCTOBER 25

OCTOBER 26

BALTIMORE COUNTY (MARYLAND): $391 million series 2010 general obligation bonds; competitive; Public Resources Advisory Group (financial adviser); 73rd issue bonds due 2012 to 2040; 2010A bonds due 2012 to 2030; 2010B bonds due 2029; proceeds to refund bond anticipation notes, construct, acquire and design water supply, drainage and sewerage systems in the county, upgrade and construct parks and recreation facilities, agricultural projects, community college projects, community improvements and waterway improvements, and construct new schools and upgrade existing school facilities; pricing Oct. 26.

• $124 million 73rd issue Baltimore County Metropolitan District bonds

• $247.05 million series 2010A Baltimore County consolidated public improvement bonds

• $19.95 million series 2010B Baltimore County public improvement qualified school construction bonds

MCCRACKEN COUNTY/SCHOOL DISTRICT FINANCE CORP. (KENTUCKY): $55 million school building revenue bonds; competitive; J.J.B. Hilliard, W.L. Lyons, LLC (financial adviser); pricing Oct. 26.

ON THE HORIZON

ATLANTA AND FULTON COUNTY RECREATION AUTHORITY (GEORGIA): $140 million series 2010 taxable revenue refunding and improvement bonds (Aa3/AAA/); negotiated; Goldman, Sachs & Co. (lead); Jackson Securities Inc., Raymond James & Associates Inc., Rice Financial Products Co., Robert Baird & Co. and Sterne, Agee & Leach Inc. (co-managers); proceeds to fund improvements to the city's Philips Arena, as well as other recreational and cultural facilities and refund debt.

BUTLER COUNTY (OHIO)/UC HEALTH: $207.5 million series 2010 health facilities revenue bonds (Baa1/BBB+/); negotiated; RBC Capital Markets Corp. (lead); Bank of America Merrill Lynch and Cain Brothers (co-managers); bonds due 2011 to 2020 with term bonds due 2025, 2030 and 2040; proceeds to pay for or reimburse UC Health for costs related to constructing, equipping, acquiring and improving UC Health facilities within the county.

CALIFORNIA DEPARTMENT OF WATER RESOURCES: $195.965 million Central Valley project water system revenue bonds (Aa2/AAA/); negotiated; De La Rosa & Co. Inc. and Jefferies & Co. (lead); Alamo Capital, Fidelity Capital Markets LLC, Jackson Securities Inc., J.P. Morgan Securities LLC, Ramirez & Co. Inc., RBC Capital Markets Corp., RH Investment Corp., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and The Williams Capital Group LP; series AH bonds due 2012 to 2035; series AI bonds due 2012 to 2029; proceeds to refund series W, X, AC and AD Central Valley project water system revenue bonds, as well as retirement department's commercial paper notes.

• $97.33 million series AH bonds

• $98.635 million series AI bonds

CHICAGO: $280 million series 2010 second-lien wastewater transmission revenue bonds (Aa3/A+/AA); negotiated; George K. Baum & Co. and M.R. Beal & Co. (lead); Bernardi Securities Inc., Guzman & Co., Lebenthal & Co. LLC and William Blair & Co. (co-managers); 2010A bonds due 2012 to 2019; 2010B bonds due 2040; proceeds to finance capital improvements and expansions to city's wastewater system, as well as refund all or portion of city's outstanding wastewater transmission revenue bonds.

• $30 million series 2010A tax-exempt refunding bonds

• $250 million series 2010B Build America Bonds

CHICAGO: $486.53 million series 2010 second-lien water revenue bonds; negotiated; Cabrera Capital Markets LLC and BMO Capital Markets (lead); Backstrom McCarley Berry & Co. LLC, Grisgby & Associates, North South Capital LLC and RBC Capital Markets Corp.; proceeds to finance capital improvements and extensions to city's water system, including maintenance of city's purification plants, upgrade of various pump stations, upgrade and replacement of meters and upgrade and replacement of old grid mains.

• $33.565 million series 2010A tax-exempt bonds

• $423.3 million series 2010B Build America Bonds

• $29.665 million series 2010C qualified energy conservation bonds

CHICAGO BOARD OF EDUCATION: $246.2 million series 2010 general obligation refunding bonds (Aa2/AA-/A+); negotiated; Morgan Stanley & Co. Inc. and Citigroup Global Markets Inc. (lead); Jefferies & Co., Melvin Securities LLC and Podesta & Co. (co-managers); proceeds to refund debt.

• $173.19 million series 2010F G.O. refunding bonds

• $73.01 million series 2010G G.O. refunding bonds

CONNECTICUT: $700 million series 2010 transportation infrastructure special tax obligation bonds; negotiated; Citigroup Global Markets Inc. (lead); Goldman, Sachs & Co., Siebert Brandford Shank & Co. LLC, Bank of America Merrill Lynch and Jackson Securities (co-senior managers); Barclays Capital Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. Inc., M.R. Beal & Co. Inc., Prager, Sealy & Co. LLC, Ramirez & Co. Inc., Raymond James & Associates Inc., RBC Capital Markets Corp., Sterne, Agee & Leach Inc. and Wells Fargo Bank, NA (co-managers); 2010A bonds due 2011 to 2018; 2010B bonds due 2019 to 2030; 2010C bonds due 2012 to 2021; proceeds to refund state's series 2001A, 2002A and 2002B bonds and finance capital improvements to state's transportation infrastructure.

• $200 million series 2010A bonds

• $400 million series 2010B Build America Bonds

• $100 million series 2010C refunding bonds

DURHAM (NORTH CAROLINA): $125.755 million series 2010 general obligation bonds (Aaa/AAA/); negotiated; Bank of America Merrill Lynch (lead for 2010A-B); Stephens Inc. (lead for 2010C); Stephens Inc. (co-managers for 2010B); Bank of America Merrill Lynch (co-manager for 2010C); 2010A bonds due 2011 to 2019; 2010B bonds due 2020 to 2025 with term bond due 2030; 2010C bonds due 2011 to 2022; proceeds to pay capital costs associated with school, community college and museum improvements, as well as discharge an existing G.O. bond anticipation note with Bank of America NA and refund G.O. debt.

• $28.73 million series 2010A bonds

• $31.27 million series 2010B Build America Bonds

• $65.755 million series 2010C G.O. refunding bonds

FLORIDA HOUSING FINANCE CORP.: $50 million series 2010B mortgage revenue bonds; negotiated; Citigroup Global Markets Inc. (lead); Morgan Stanley & Co. Inc., RBC Capital Markets Corp., Bank of America Merrill Lynch, George K. Baum & Co., Janney Montgomery Scott LLC and Morgan Keegan & Co. Inc. (co-managers); bonds due 2012 to 2020 with term bonds due 2025, 2028 and 2029; proceeds to fund mortgage loans.

HARRIS COUNTY (TEXAS): $140 million toll road revenue refunding bonds; negotiated; Rice Financial Products Co. and Estrada Hinojosa & Co., Inc. (co-lead); Fidelity Capital Markets Inc. (co-manager); proceeds to refund and defease a portion of outstanding toll road tax bonds and toll road senior lien revenue bonds.

• $40 million series 2010B unlimited tax and subordinate lien bonds

• $20 million series 2010C senior lien bonds

• $80 million in series 2010D senior lien bonds

HONOLULU: $306.115 million series 2010 wastewater system revenue bonds; negotiated; Bank of America Merrill Lynch and Piper Jaffray & Co. (lead); junior bonds due 2011 to 2028; senior series 2010A bonds due 2015 to 2019; senior series 2010B bonds due 2020 to 2025 with term bonds due 2030 and 2040; proceeds to finance capital improvements to city's wastewater system, as well as refund city's junior series 1998 bonds.

• $102.785 million junior series 2010A bonds (Aa3/AA-/AA-)

• $25.915 million senior series 2010A tax-exempt bonds (Aa2/AA/AA)

• $177.415 million senior series 2010B Build America Bonds (Aa2/AA/AA)

ILLINOIS FINANCE AUTHORITY/ADMIRAL AT THE LAKE: $204.1 million series 2010 revenue bonds; negotiated; Ziegler Capital Markets (lead); BB&T Capital Markets and RBC Capital Markets Corp. (co-managers); 2010B bonds due May 15, 2018; 2010C bonds due May 15, 2018; 2010D-1 bonds due May 15, 2018; 2010D-2 bonds due May 15, 2017; 2010D-3 bonds due May 15, 2017; 2010E bonds due May 15, 2016; proceeds to design, acquire, construct and equip new independent and assisted living facility for senior citizens at the site of the current Admiral at the Lake facility in Chicago.

• $125.6 million series 2010A

• $5.35 million series 2010B

• $5 million series 2010C accelerated redemption reset option securities

• $12.15 million series 2010D-1 tax-exempt mandatory paydown securities

• $18.15 million series 2010D-2 tax-exempt mandatory paydown securities

• $35.35 million series 2010D-3 tax-exempt mandatory paydown securities

• $2.5 million series 2010E taxable mandatory paydown securities

IMPERIAL IRRIGATION DISTRICT (CALIFORNIA): $250 million series 2010B Build America Bonds electric system revenue certificates of participation (A1/AA-/); negotiated; Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead); Barclays Capital Inc. and De La Rosa & Co. (co-managers); certificates due 2018 to 2040; proceeds to finance the El Centro Unit 3 Repower Project, which will provide an additional 100 megawatts of generation capacity to the El Centro Generating Station.

KENTUCKY STATE PROPERTY AND BUILDINGS COMMISSION: $315.235 million project No. 99 revenue bonds (Aa2//AA-); negotiated; Morgan Stanley & Co. Inc. (lead); Citigroup Global Markets Inc., J.J.B. Hilliard, W.L. Lyons LLC, Morgan Keegan & Co. Inc., PNC Capital Markets LLC, Edward D. Jones & Co. LP, First Kentucky Securities Corp., Stifel, Nicolaus & Co. Inc., Ross, Sinclair & Associates Inc., Sterne, Agee & Leach Inc. and Bank of America Merrill Lynch; proceeds to finance capital projects.

• $80.595 million series A bonds

• $10.35 million series B federally taxable bonds

• $224.29 million series C Build America Bonds

LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY: $740 million series 2010 Measure R senior sales tax revenue bonds (Aa2/AAA/); negotiated; Barclays Capital Inc., Citigroup Global Markets Inc. and Goldman, Sachs & Co. (lead); De La Rosa & Co., Siebert Brandford Shank & Co. LLC, Stone & Youngberg, Jefferies & Co., Loop Capital Markets LLC and Ramirez & Co. Inc. (co-managers); proceeds to finance capital transportation projects under the authority's long-range plan.

MICHIGAN: $1.1 billion series 2011 general obligation notes (MIG 1/SP-1+/); negotiated; Goldman, Sachs & Co. (lead); Barclays Capital Inc., BMO Capital Markets, Citigroup Global Markets Inc., Janney Montgomery Scott LLC, Loop Capital Markets LLC and PNC Capital Markets LLC (co-managers); notes due Sept. 30, 2011; proceeds to meet state's capital needs during 2011 fiscal year.

MISSISSIPPI BUSINESS FINANCE CORP.: $100 million series 2010 Gulf Opportunity Zone industrial development bonds (Aaa/VMIG 1); negotiated; SunTrust Robinson Humphrey and Natixis Securities North America Inc. (lead); bonds due Aug. 1, 2035; proceeds to construct, install and equip the Southern Pines Energy Center, a 40 billion cubic-foot natural gas storage facility in Green County, Miss.

MISSISSIPPI HOSPITAL EQUIPMENT AND FACILITIES AUTHORITY/FORREST COUNTY GENERAL HOSPITAL: $70 million series 2010 revenue bonds; negotiated; Bank of America Merrill Lynch (lead); proceeds to construct additions and improvements to the Forrest County General Hospital.

NORTH CAROLINA MEDICAL CARE COMMISSION/NOVANT HEALTH OBLIGATED GROUP: $260 million series 2010A health care facilities revenue bonds (A1/A+/AA-); negotiated; J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch and Wells Fargo Securities LLC (co-senior managers); BB&T Capital Markets Inc., Citigroup Global Markets Inc. and SunTrust Robinson Humphrey (co-managers); bonds due 2023 to 2025 with term bonds due 2030, 2035, 2040 and 2043; proceeds to finance the cost of additional health care facilities.

NORTH TEXAS HIGHER EDUCATION AUTHORITY: $127.6 million series 2010-2 tax-exempt non-AMT Libor floating-rate student loan revenue bonds (/AAA/AAA); negotiated; Bank of America Merrill Lynch (lead); Deutsche Bank Securities Inc. (co-manager); bonds due April 1, 2037; proceeds to finance student loans.

OHIO HOUSING FINANCE AGENCY: $90.61 million series 2010A variable-rate demand residential mortgage revenue bonds (Aaa/VMIG 1); negotiated; J.P. Morgan Securities LLC (lead); bonds due Sept. 1, 2029; proceeds to finance residential mortgage loans.

ORLANDO-ORANGE COUNTY EXPRESSWAY AUTHORITY (FLORIDA): $280 million series 2010C revenue bonds; negotiated; Citigroup Global Markets Inc. (lead); Bank of America Merrill Lynch, J.P. Morgan Securities LLC, Loop Capital Markets LLC, Raymond James & Associates Inc., Barclays Capital Inc., Goldman, Sachs & Co., Morgan Stanley & Co. Inc., RBC Capital Markets Corp. and Wells Fargo Securities LLC (co-managers); proceeds to finance costs associated with acquiring, constructing, improving and expanding highway projects under the authority's five-year plan.

PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY (FLORIDA): $53.755 million series 2010 retirement communities revenue bonds (/BBB+/A-); negotiated; Ziegler Capital Markets Inc. (lead); proceeds to pay for or reimburse ACTS Retirement-Life Communities Inc. Obligated Group for capital expenditures connected to its continuing care facilities in Palm Beach and Indian River counties in Florida, as well as to make a deposit to a debt service reserve fund.

PHILADELPHIA: $619.32 million series 2010 airport revenue bonds (A2/A+/A); negotiated; Bank of America Merrill Lynch (lead); J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC and Morgan Stanley & Co. LLC (co-senior managers); Jackson Securities Inc., Morgan Keegan & Co. Inc., Loop Capital Markets LLC, PNC Capital Markets LLC and Wells Fargo Securities LLC (co-managers); 2010A bonds due 2011 to 2030 with term bonds due 2035 and 2040; 2010B bonds due 2011 to 2015; 2010C bonds due 2011 to 2018; 2010D bonds due 2011 to 2020 with term bonds due 2025 and 2028; proceeds to upgrade and modernize airport facilities and refund city's series 1997A airport revenue refunding bonds and series 1998A airport revenue refunding bonds.

• $267.67 million series 2010A non-AMT bonds

• $25.13 million series 2010B non-AMT refunding bonds

• $56.215 million series 2010C AMT refunding bonds

• $270.305 million series 2010D AMT refunding bonds

TALLAHASSEE (FLORIDA): $156.595 million series 2010 energy system revenue bonds (Aa3/AA/AA-); negotiated; Goldman, Sachs & Co. (lead); RBC Capital Markets Corp., J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC (co-managers); 2010B bonds due 2027 to 2040; 2010C bonds due 2012 to 2026; proceeds to construct and acquire improvements to the city's energy system.

• $122.265 million series 2010B Build America Bonds

• $34.33 million series 2010C tax-exempt bonds

TAMPA BAY WATER (FLORIDA): $66.165 million series 2010 utility system refunding revenue bonds (Aa2/AA+/AA+); negotiated; Raymond James & Associates Inc. and Citigroup Global Markets Inc. (lead); bonds due 2025 to 2027; proceeds to refund authority's series 1998A and 2001B revenue bonds.

TAMPA BAY WATER (FLORIDA): $103.74 million series 2011 utility system refunding revenue bonds (Aa2/AA+/AA+); negotiated; Bank of America Merrill Lynch (lead); Citigroup Global Markets Inc. and Raymond James & Associates Inc. (co-managers); bonds due 2012 to 2021; proceeds to refund its series 2001A utility system refunding and improvement revenue bonds.

UNIVERSITY OF CINCINNATI: $134.41 million series 2010 general receipts bonds; negotiated; RBC Capital Markets Corp.; proceeds to finance a portion of cost to renovate university's College of Design, Architecture, Art and Planning, as well as advanced refunding of series 2001A bonds and current refunding of its series 2008F bonds, a portion of its series 2008B variable-rate bonds and a portion of its series 2009D notes.

• $119.39 million series 2010F tax-exempt bonds

• $15.02 million series 2010G Build America Bonds

UNIVERSITY OF MICHIGAN: $220 million series 2010 general revenue bonds (Aaa); negotiated; Barclays Capital Inc. (lead); Bank of America Merrill Lynch and Morgan Stanley & Co. Inc. (co-managers); proceeds to replace C.S. Mott Children's and Women's Hospitals, expand the university hospital and health center's eye center, expand the university hospital and health center's data center, expand University Hospital's emergency department, renovate Couzens Hall and make other capital improvements to the university.

VERMONT EDUCATIONAL AND HEALTH BUILDINGS FINANCING AGENCY/MIDDLEBURY COLLEGE: $96.885 million series 2010 revenue refunding bonds (Aa2); negotiated; Goldman, Sachs & Co. (lead); bonds due 2040; proceeds to refund college's series 2008 variable-rate demand obligations and terminate an interest rate swap agreement related to those obligations.

WASHINGTON HEALTH CARE FACILITIES AUTHORITY/KADLEC REGIONAL MEDICAL CENTER: $56.335 million series 2010 revenue bonds (Baa2); negotiated; Piper Jaffray & Co. (lead); bonds due 2011 to 2020 with term bonds due 2025, 2030, 2033 and 2039; proceeds to repay prior loans issued by medical center and finance or reimburse the medical center for the construction, equipment, acquisition and improvement of existing medical center facilities.

WINSTON-SALEM (NORTH CAROLINA): $121.215 million series 2010 water and sewer system revenue bonds (Aa1); negotiated; Citigroup Global Markets Inc. (lead); BB&T Capital Markets and Loop Capital Markets LLC (co-managers); 2010A bonds due 2014 to 2023; 2010B bonds due 2030 and 2040; 2010C bonds due 2040; 2010D bonds due 2011 to 2021; proceeds to fund capital improvements to the city's water and sewer system, as well as refund it series 2002A and 2005 bonds.

• $27.935 million series 2010A tax-exempt revenue bonds

• $42.485 million series 2010B taxable bonds

• $37 million series 2010C taxable bonds

• $13.795 million series 2010D revenue refunding bonds

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