Municipals Calendar: Massachusetts plans $490 million bond sale

WEEK OF MAY 23

GEISINGER AUTHORITY/GEISINGER HEALTH SYSTEM (PENNSYLVANIA): $100 million series 2011A health system revenue bonds (Aa2/AA/); negotiated; J.P. Morgan Securities LLC (lead); Wells Fargo Securities LLC and PNC Capital Markets LLC (co-managers); proceeds to finance or reimburse the costs of capital improvements at Geisinger Health facilities; pricing week of May 23.

MILWAUKEE: $53 million series 2011-S1 sewerage system revenue bonds; negotiated; Cabrera Capital Markets LLC (lead); J.P. Morgan Securities LLC and Loop Capital Markets LLC (co-managers); bonds due 2012 to 2031; proceeds to finance capital improvements to city's sewerage system; pricing week of May 23.

UTILITIES BOARD OF THE CITY OF CULLMAN (ALABAMA): $58.22 million series 2011 water revenue bonds (Aa3/AA+/); negotiated; Raymond James & Associates, Inc., Frazer Lanier Co. Inc. and Merchant Capital LLC; bonds due Sept. 1, 2011 to Sept. 1, 2031 with term bonds due 2036 and 2041; proceeds to fund capital improvements to the water supply system and to refund the outstanding series 1998, 2002 and 2002A bonds of the board and to fund the debt service reserve fund; pricing week of May 23.

MAY 24

MASSACHUSETTS: $490 million series 2011 consolidated general obligation bonds; negotiated; J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch; Barclays Capital Inc.; Citigroup Global Markets Inc.; Fidelity Capital Markets Corp.; Jefferies & Co. Inc.; Morgan Stanley & Co. Inc.; Ramirez & Co. Inc.; Siebert Brandford Shank & Co. LLC; BB&T Capital Markets LLC; Cabrera Capital Markets LLC; Eastern Bank; Edward Jones & Co. Inc.; Jackson Securities Inc.; Janney Montgomery Scott LLC; KeyBanc Capital Markets LLC; Loop Capital Markets LLC; Morgan Keegan & Co. Inc.; M.R. Beal & Co. Inc.; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; Prager, Sealy & Co. LLC; RBC Capital Markets LLC; Raymond James & Associates Inc.; Roosevelt & Cross Inc.; and Stone & Youngberg (co-managers); 2011B bonds due 2011 to 2025; 2011C bonds due 2014; proceeds to fund capital expenditures included in current spending plan; pricing May 24.

• $485 million series 2011B bonds

• $5 million series 2011C Build Massachusetts bonds

MAY 25

ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY (NEW YORK)/BUFFALO CITY SCHOOL DISTRICT: $284 million series 2011 school facilities revenue bonds (Aa3/AA-/); negotiated; Citigroup Global Markets Inc. (lead); Morgan Keegan & Co. Inc., Ramirez & Co. Inc., Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC (co-managers); 2011A bonds due 2013 to 2032; 2011B bonds due 2012 to 2024; proceeds to fund improvements and repairs to Buffalo schools, as well as to refund the agency's series 2003 bonds; pricing May 25.

• $170 million series 2011A revenue bonds

• $114 million series 2011B refunding bonds

JACKSONVILLE (FLORIDA): $106.67 million series 2011A special revenue bonds (/AA-/AA); competitive; Public Financial Management, Inc. (financial adviser); bonds due 2012 to 2041; proceeds to finance litigation settlements, refund commercial paper and acquire and construct capital equipment and improvements; pricing May 25.

MILWAUKEE (WISCONSIN): $256.445 million series 2011 general obligation notes and bonds; competitive; Robert W. Baird & Co. (financial adviser); 2011-R2 notes due Dec. 1, 2011; 2011-N3 notes due 2012 to 2021; 2011-B4 bonds due 2022 to 2028; 2011-T5 bonds due 2012 to 2028; proceeds to fund city's operating budget on an interim basis in anticipation of shared revenue payments, as well as to finance various capital improvements and fiscal requirements; pricing May 25.

• $100 million series 2011-R2 G.O. cash flow promissory notes

• $93.625 million series 2011-N3 G.O. promissory notes

• $28.89 million series 2011-B4 G.O. corporate purpose bonds

• $33.93 million series 2011-T5 G.O. taxable corporate purpose bonds

NASSAU COUNTY (NEW YORK): $230 million series 2011 general obligation revenue anticipation notes (/SP-1+/F1+); competitive; Public Financial Management, Inc. (financial adviser); series 2011A notes due March 30, 2012; series 2011B notes due April 30, 2012; proceeds to fund capital requirements ahead of the collection of net allocable sales tax; pricing May 25.

• $155 million series 2011A notes

• $75 million series 2011B notes

NASSAU COUNTY (NEW YORK): $82.045 million series 2011A general improvement general obligation bonds (A1/A+/AA-); competitive; Public Financial Management, Inc. (financial adviser); bonds due 2012 to 2036; proceeds to fund capital projects and judgments and settlements; pricing May 25.

READING SCHOOL DISTRICT (PENNSYLVANIA): $77.205 million series 2011 general obligation notes (A2/Aa3); competitive; Concord Public Financial Advisors Inc. (financial adviser); 2011A notes due 2012 to 2023; 2011AA notes due 2014 to 2024; proceeds to refund portion of district's series 2001A bonds for net present value savings of $2.7 million, as well as fund a portion of an $11.8 million termination payment in conjunction with a swap agreement; pricing May 25.

• $65.735 million series 2011A tax-exempt notes

• $11.47 million series 2011AA taxable notes

VIRGINIA PUBLIC SCHOOL AUTHORITY: $56.985 million series XI school educational technology notes (Aa1/AA+/AA+); competitive; BB&T Capital Markets (financial adviser); notes due 2012 to 2016; proceeds to make grants to establish a computer-based instructional and testing system for the Standard of Learning, as well as to provide high-speed Internet access to high schools, middle schools and elementary schools; pricing May 25.

JUNE

HIGHER EDUCATION LOAN AUTHORITY OF THE STATE OF MISSOURI: $579 million series 2011-1 student loan asset-backed Libor floating-rate notes (/AAA/AAA); negotiated; Morgan Stanley & Co. Inc. (lead); proceeds to acquire student loans; pricing in June.

ON THE HORIZON

DURHAM (NORTH CAROLINA): $57.39 million series 2011 utility system revenue and refunding revenue bonds (Aa1/AAA/AAA); negotiated; Citigroup Global Markets Inc. and Bank of America Merrill Lynch (lead); bonds due 2012 to 2031 with term bond due June 1, 2041; proceeds to make improvements to city's utility system, as well as refund series 2001 bonds.

DURHAM COUNTY (NORTH CAROLINA): $62.18 million series 2011 general obligation refunding bonds (Aaa/AAA/); negotiated; Stephens Inc. and Bank of America Merrill Lynch (lead); bonds due 2011 to 2022; proceeds to refund county's series 2004A-B and 2006A-B bonds.

GREATER ORLANDO AVIATION AUTHORITY (FLORIDA): $90 million series 2010 airport facilities refunding revenue bonds (Aa3/A+/AA-); negotiated; Loop Capital Markets LLC (lead); Bank of America Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (co-managers); 2010C bonds due 2019 to 2028; 2010D bonds due 2011 to 2018; proceeds to refund authority's series 1999A-B bonds.

• $75 million series 2010C AMT bonds

• $15 million series 2010D non-AMT bonds

INDUSTRIAL DEVELOPMENT CORP. OF THE PORT OF BELLINGHAM (WASHINGTON)/BP WEST COAST LLC: $111 million series 2010 environmental facilities industrial revenue bonds; negotiated; Goldman, Sachs & Co.; proceeds to construct sewage treatment and solid waste disposal facilities at BP's Cherry Point Refinery in Whatcom County, Wash.

LANCASTER COUNTY HOSPITAL AUTHORITY/LANCASTER GENERAL HOSPITAL (PENNSYLVANIA): $75 million series 2011 health system revenue bonds (Aa3/AA-/); negotiated; Bank of America Merrill Lynch and RBC Capital Markets LLC (lead); Wells Fargo Securities LLC and Janney Montgomery Scott LLC (co-managers); proceeds to construct, add, expand and improve the hospital laboratory facilities and its angiography suite, as well as refund its series 1998 and 2008 bonds.

LOUISIANA: $177.13 million series 2011-1 general obligation refunding Libor index bonds (Aa2//AA); negotiated; Morgan Stanley & Co. Inc. (lead); bonds due July 15, 2014; proceeds to refund state's series 2006A-B G.O. bonds.

MASSACHUSETTS PORT AUTHORITY: $211.56 million series 2011 ConRAC project special facilities revenue bonds (A3/A/A-); negotiated; Citigroup Global Markets Inc. (lead); Morgan Keegan & Co. Inc., Barclays Capital Inc., Fidelity Capital Markets LLC and Jefferies & Co. (co-managers); 2011A bonds due July 1, 2041; 2011B bonds due 2012 to 2021 with term bonds due July 1, 2031 and July 1, 2038; proceeds to construct and equip a consolidated rental car facility at Boston-Logan International Airport.

• $58.495 million series 2011A non-AMT bonds

• $153.065 million series 2011B taxable bonds

METROPOLITAN WATER RECLAMATION DISTRICT OF GREATER CHICAGO (ILLINOIS): $500 million series 2010 general obligation capital improvement bonds (Aaa/AAA/AAA); negotiated; J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (lead); Bank of America Merrill Lynch, Barclays Capital Inc., Duncan-Williams Inc., Loop Capital Markets LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and William Blair & Co. Inc. (co-managers); 2010A bonds due 2012 to 2014; 2010B bonds due 2015 to 2018; 2010C bonds due 2019 to 2025 with a term bond due 2032; proceeds to construct, remodel, rehabilitate and repair water facilities, flood protection controls and pollution measures.

• $30 million series 2010A taxable bonds

• $70 million series 2010B tax-exempt bonds

• $400 million series 2010C Build America Bonds

OHIO: $50 million series 2011A revitalization project bond anticipation notes (MIG 1/SP-1+/F1+); negotiated; Bank of America Merrill Lynch (lead); KeyBanc Capital Markets Inc., RBC Capital Markets LLC, Baird & Co. and Ross, Sinclaire & Associates LLC (co-managers); notes due June 1, 2022; proceeds to foster environmentally sound and productive development, use or reuse of public and private lands within the state.

OKLAHOMA STUDENT LOAN AUTHORITY: $213.5 million series 2011-1 taxable Libor Oklahoma student loan bonds (/AAA/AAA); negotiated; Bank of Ameirca Merrill Lynch; bonds due June 1, 2040; proceeds to acquire eligible student loans from lenders or holders in the authority's network, as well as refund authority's series 2008I-A1 variable-rate bonds.

ORLANDO-ORANGE COUNTY EXPRESSWAY AUTHORITY (FLORIDA): $290 million series 2011A refunding revenue bonds (//A); negotiated; Wells Fargo Securities LLC (lead); Bank of America Merrill Lynch, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Raymond James & Associates Inc., Barclays Capital Inc., Goldman, Sachs & Co., Morgan Stanley & Co. Inc. and RBC Capital Markets LLC (co-managers); proceeds to refund authority's series 2008B-1 and 2008B-2 bonds.

PUERTO RICO INDUSTRIAL, TOURIST, EDUCATIONAL, MEDICAL AND ENVIRONMENTAL CONTROL FACILITIES FINANCING AUTHORITY: $103.23 million series 2011A hospital revenue and revenue refunding bonds (/A-/); negotiated; J.P. Morgan Securities LLC and Morgan Stanley & Co. Inc. (lead); FirstBank Puerto Rico Securities and Popular Securities (co-managers); bonds due 2015 to 2021 with term bonds due 2026 and 2033; proceeds to refund existing hospital revenue bonds.

RIVERSIDE COUNTY (CALIFORNIA): $250 million series 2010-2011 tax and revenue anticipation notes (MIG 1/SP-1+/); negotiated; De La Rosa & Co. Inc. (lead); Citigroup Global Markets Inc. and Wedbush Securities Inc. (co-managers); 2011A notes due March 30, 2012; 2011B notes due June 29, 2012; proceeds to fund expected capital requirements ahead of the collection of taxes and other revenues.

• $125 million series 2011A notes

• $125 million series 2011B notes

SPECIAL CARE FACILITIES FINANCING AUTHORITY OF THE CITY OF PELL/NOLAND HEALTH SERVICES INC. (ALABAMA): $92.98 million series 2010A revenue bonds (/A-/); negotiated; RBC Capital Markets Corp. (lead); bonds due 2011 to 2020 with term bonds due 2025, 2030 and 2039; proceeds to finance capital improvements to Noland Health facilities, as well as advanced refund authority's series 2007A and refund its series 2009A bonds.

SUMTER COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/CENTRAL FLORIDA HEALTH ALLIANCE: $72.025 million series 2011A hospital revenue refunding and improvement bonds (Baa1/BBB+/); negotiated; RBC Capital Markets LLC and PNC Capital Markets LLC (lead); proceeds to fund improvements, additions and expansions to Central Florida Health facilities, including the addition of new inpatient beds and expansion of alliance's emergency department, as well as refund debt.

WESTERN MICHIGAN UNIVERSITY: $68.015 million series 2011 general revenue and refunding bonds (A1/A/); negotiated; Morgan Stanley & Co. Inc. and Stifel, Nicolaus & Co. Inc. (lead); bonds due 2012 to 2026 with term bonds due 2031, 2036 and 2040; proceeds to construct, equip and furnish the College of Education and Human Development, as well as refund the university's series 2001 bonds.

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