Municipal Calendar: Milwaukee prepares $120 million note offering

Week of October 8

October 9

MILWAUKEE (WISCONSIN): $120 million series 2012 M11 school revenue anticipation notes; competitive; Robert W. Baird & Co. (financial adviser); notes due June 26, 2013; proceeds to finance Milwaukee Public Schools operations on an interim basis pending the receipt of state aid payments; pricing Oct. 9.

On the Horizon

ALABAMA INCENTIVES FINANCING AUTHORITY: $119,065,000 series 2012A tax-exempt special obligation bonds (Aa3/A+/); negotiated; Raymond James/Morgan Keegan and Piper Jaffray & Co. (lead); Merchant Capital LLC and Terminus Securities LLC (co-managers); bonds due 2013 and 2030 to 2042 with term bonds; proceeds to finance economic development projects in the state.

AMHERST COLLEGE (MASSACHUSETTS): $100 million series 2012A taxable bonds (Aaa/AA+/); negotiated; Bank of America Merrill Lynch (lead); proceeds to finance capital projects for the college.

BLACK BELT ENERGY GAS DISTRICT (ALABAMA): $773,845,000 series 2012A gas project revenue bonds (A1/A-/A); negotiated; Goldman Sachs & Co. and Merchant Capital LLC (lead); bonds due 2013 to 2042; proceeds to acquire natural gas as part of a prepaid natural gas purchase agreement.

BUILDING EQUITY SOONER FOR TOMORROW (SOUTH CAROLINA)/SCHOOL DISTRICT OF GREENVILLE COUNTY PROJECT: $51.05 million series 2012 installment purchase revenue refunding bonds; negotiated; Wells Fargo Securities LLC and Bank of America Merrill Lynch (lead); Raymond James/Morgan Keegan and TD Securities (USA) LLC (co-managers); bonds due 2014 to 2023; proceeds to refund the corporation's series 2002 revenue bonds issued to finance construction, equipment and renovation of Greenville County schools.

CENTRE COUNTY HOSPITAL AUTHORITY/MOUNT NITTANY MEDICAL CENTER (PENNSYLVANIA): $112.04 million series 2012 hospital revenue bonds (/A-/A-); negotiated; Bank of America Merrill Lynch, Edward D. Jones & Co. LP, M&T Securities Inc., Morgan Stanley & Co. LLC and PNC Capital Markets LLC (underwriters); proceeds to construct, acquire, equip and renovate Mount Nittany capital projects.

• $43.71 million series 2012A bonds

• $68.33 million series 2012B bonds

CLEVELAND (OHIO): $120,405,000 series 2012 water revenue bonds negotiated Citigroup Global Markets Inc. (lead); Bank of America Merrill Lynch, Cabrera Capital Markets LLC, KeyBanc Capital Markets, PNC Capital Markets, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers); proceeds to finance improvements to the city's wastewater system.

• $77.44 million series 2012A second-lien water revenue bonds (Aa2/AA-/) due 2018 to 2027

• $42,965,000 series 2012X senior-lien water revenue bonds (Aa1/AA/) due 2022 to 2032 with term bonds due 2037 and 2042

COLORADO HEALTH FACILITIES AUTHORITY/CHRISTIAN LIVING COMMUNITIES PROJECT: $50.52 million series 2012 revenue refunding bonds; negotiated; Ziegler Capital Markets and Stifel, Nicolaus & Co. Inc. (lead); bonds due 2014 to 2022 with term bonds due in 2027, 2032 and 2037; proceeds to refund the authority's series 2006 and 2009 revenue bonds.

CUMBERLAND COUNTY MUNICIPAL AUTHORITY (PENNSYLVANIA)/ASBURY PENNSYLVANIA OBLIGATED GROUP: $52,625,000 series 2012 refunding revenue bonds; negotiated; Ziegler Capital Markets Inc. (lead); proceeds to refund the authority's series 2006 adjustable-rate demand revenue bonds.

DIGNITY HEALTH (CALIFORNIA): $500 million series 2012 taxable bonds (A3/A/A); negotiated; Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead); BMO Capital Markets, Mizuho Securities, SMBC Nikko and Wells Fargo Securities LLC (co-managers); proceeds to finance general corporate purposes of the obligated group, including the refinance of a $310 million line of credit.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: up to $600 million tax-exempt refunding bonds; negotiated; RBC Capital Markets LLC and Raymond James/Morgan Keegan (lead); proceeds to refund the authority's series 2002A-I school districts revenue bond financing program revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $887,195,000 series 2012 state personal income tax revenue bonds (/AAA/AA); negotiated; Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Siebert Brandford Shank & Co. LLC (lead); Barclays, BB&T Capital Markets, Blaylock Robert Van LLC, Citigroup Global Markets Inc., Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, Goldman Sachs & Co., Guggenheim Securities Inc., Janney Montgomery Scott LLC, Jefferies & Co. Inc., Lebenthal & Co. Inc., Loop Capital Markets LLC, M.R. Beal & Co. Inc., M&T Securities Inc., Mesirow Financial Inc., Morgan Stanley & Co. LLC, Oppenheimer & Co., Piper Jaffray & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Southwest Securities Inc., Sterne, Agee & Leach Inc., Stifel, Nicolaus & Co. Inc., TD Securities (USA) LLC, The William Capital Group LP, US Bancorp Inc. and Wells Fargo Securities LLC (co-managers); proceeds to finance capital projects for the State University of New York.

EDMONDS HIGH SCHOOL DISTRICT (WASHINGTON): $92,885,000 series 2012 unlimited tax general obligation refunding bonds (Aa1); negotiated; Seattle-Northwest Securities Inc. (lead); proceeds to refund the district's series 2006 general obligation bonds.

ESCAMBIA COUNTY (FLORIDA): $65 million series 2012 solid waste removal revenue bonds; negotiated; Goldman, Sachs & Co. (lead); proceeds to finance solid waste removal projects within the county.

FORT BEND COUNTY INDUSTRIAL DEVELOPMENT CORP./NRG ENERGY INC. (TEXAS): $127.1 million series 2012 industrial development revenue bonds (Baa3); negotiated; Bank of America Merrill Lynch (lead); proceeds to construct and install facilities to capture and sequester carbon dioxide for NRG properties.

• $54 million series 2012A bonds due May 1, 2038

• $73.1 million series 2012B bonds due Nov. 1, 2042

ILLINOIS FINANCE AUTHORITY/ART INSTITUTE OF CHICAGO: $61.45 million series 2012A revenue bonds (A1/A+/); negotiated; Morgan Stanley & Co. LLC (lead); William Blair & Co. LLC and Loop Capital Markets LLC (co-managers); bonds due 2013 to 2022 and 2030 and 2034; proceeds to refund the authority's series 1998A, 2000A and 2003A revenue bonds.

ILLINOIS FINANCE AUTHORITY/LUTHERAN HOME AND SERVICES OBLIGATED GROUP: $101,995,000 series 2012 revenue bonds; negotiated; Ziegler Capital Inc. (lead); bonds due 2013 to 2017 with term bonds due in 2022, 2027, 2032 and 2046; proceeds to be loaned to the Lutheran Home and Services for the Aged Inc. to refinance debt issued to construct, acquire, equip and renovate properties owned by the company, as well as to refund the home's series 2001 and 2003 revenue bonds.

KENTUCKY ECONOMIC DEVELOPMENT AUTHORITY/MASONIC HOMES OF KENTUCKY: $50 million series 2012 health care facilities revenue and revenue refunding bonds; negotiated; Ziegler Capital Inc. (lead); proceeds to construct, equip, acquire and renovate Masonic Homes of Kentucky properties, as well as to refund the authority's series 2009 and 2010 revenue bonds.

LOS ANGELES DEPARTMENT OF WATER AND POWER (CALIFORNIA): $780 million series 2012 power system revenue bonds (Aa3/AA-/AA-); negotiated; De La Rosa & Co. Inc. (lead for 2012A); Bank of America Merrill Lynch, Fidelity Capital Markets Inc. and Williams Capital Group LP (co-managers for 2012A); J.P. Morgan Securities LLC, De La Rosa & Co. Inc. and Morgan Stanley & Co. LLC (lead for 2012B); BMO Capital Markets, Citigroup Global Markets Inc., Goldman Sachs & Co., Loop Capital Markets LLC and Ramirez & Co. Inc. (co-managers for 2012B); Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and Goldman Sachs & Co. (lead for 2012C);Cabrera Capital Markets LLC, Fidelity Capital Market Securities Inc. and US Bancorp Inc. (co-managers for 2012C ); proceeds to refund department's series 2003B revenue bonds.

• $130 million series 2012A bonds due 2014 and 2023 to 2035

• $350 million series 2012B bonds due July 1, 2043

• $300 million series 2012C bonds due 2016

MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY/ANNE ARUNDEL HEALTH SYSTEM: $71.46 million series 2012 revenue bonds (A3/A-/A-); negotiated; Citigroup Global Markets Inc. and BB&T Capital Markets (lead); bonds due 2013 to 2022 with term bonds due in 2027 and 2034; proceeds to refund existing debt.

MISSION HEALTH INC. (NORTH CAROLINA)/MISSION HEALTH COMBINED GROUP: $250 million series 2012 taxable health system revenue bonds (Aa3/AA-/AA-); negotiated; Bank of America Merrill Lynch and Wells Fargo Securities LLC (lead); bonds due Dec. 1, 2042; proceeds to finance capital improvements and equipment purchases for the combined group.

MISSISSIPPI DEVELOPMENT BANK/MARSHALL COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY MISSISSIPPI HIGHWAY CONSTRUCTION PROJECT: $163 million series 2012 special obligation bonds (Aa3/AA-/); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2013 to 2028; proceeds to design, construct, acquire rights-of-way, expand, improve and renovate sections of U.S. Interstate 69 eastbound near the Mississippi/Tennessee border.

MODESTO IRRIGATION DISTRICT (CALIFORNIA): $88.59 million series 2012 electric system revenue refunding bonds (A2/A+/); negotiated; Citigroup Global Markets Inc. (lead); proceeds to refund the district's series 2003A certificates of participation.

• $85.8 million series 2012A bonds due 2013 to 2032

• $2.79 million series 2012B bonds due 2013

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY: $350 million series 2013 future tax secured bonds (Aa1/AAA/AAA); negotiated; TD Securities (USA) LLC (sole for 2013-4 bonds) and US Bancorp Inc. (sole for 2013A-5, 2013A-6 and 2013A-7 bonds); bonds due Aug. 1, 2039; proceeds to finance general capital needs for the city.

• $50 million series 2013A-4 tax-exempt subordinate adjustable-rate bonds

• $50 million series 2013A-5 tax-exempt subordinate adjustable-rate bonds

• $100 million series 2013A-6 tax-exempt subordinate adjustable-rate bonds

• $150 million series 2103A-7 tax-exempt subordinate adjustable-rate bonds

NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY/WAKE FOREST UNIVERSITY: $110 million series 2012 educational facilities revenue bonds (Aa3/AA/); negotiated; Wells Fargo Securities LLC and BB&T Capital Markets LLC (lead); bonds due 2015 to 2033 with term bonds due 2040 and 2042; proceeds to construct and design residence halls, a dining hall and academic buildings, as well as to upgrade the university's heating plant.

NYU HOSPITALS CENTER: $250 million series 2012A taxable bonds (A3/A-/A-); negotiated; J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Bank of America Merrill Lynch (lead); TD Securities (USA) LLC (co-manager); proceeds to finance various construction projects for the center.

OHIO: $175 million series Q general obligation highway capital improvement bonds (Aa1/AAA/AA+); negotiated; Wells Fargo Securities LLC (lead); Fifth Third Securities Inc., The Huntington Investment Co., KeyBanc Capital Markets Inc., PNC Capital Markets LLC and Piper Jaffray & Co. (co-managers); bonds due 2014 to 2028; proceeds to finance highway capital projects.

OHIO/UNIVERSITY HOSPITALS HEALTH SYSTEM INC.: $55,825,000 series 2012C hospital revenue bonds (A2/A/); negotiated; Bank of America Merrill Lynch and Barclays (lead); Edward D. Jones & Co. LP, Fifth Third Securities Inc., KeyBanc Capital Markets Inc., PNC Capital Markets LLC and US Bancorp Inc. (co-managers); bonds due 2020 to 2029 with term bonds due in 2032, 2035, 2039 and 2042; proceeds to refund the health system's series 2009B and 2009C-1 revenue bonds.

RHODE ISLAND: $81.4 million series 2012B consolidated capital development loan general obligation bonds (Aa2/AA/AA); negotiated; Barclays and J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., Fidelity Capital Markets Inc. and Roosevelt & Cross Inc. (co-managers); bonds due 2013 to 2032; proceeds to finance the state's capital needs.

SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/SANFORD HEALTH: $120 million series 2012E revenue bonds; negotiated; Cain Brothers (lead); bonds due Nov. 1, 2042; proceeds to finance a loan to the health care system to construct, acquire, equip and renovate an acute-care hospital and clinic facility in Thief River Falls, Minn., as well as other facilities.

STANFORD UNIVERSITY (CALIFORNIA): $140 million series 2012 taxable bonds (Aaa/AAA/AAA); negotiated; Goldman Sachs & Co. and Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Prager & Co. LLC (co-managers); bonds due May 1, 2042; proceeds to refinance commercial paper and other debt that refinanced capital projects for the university.

TUFTS UNIVERSITY (MASSACHUSETTS): $250 million series 2012A taxable bonds; negotiated; Barclays and J.P. Morgan Securities LLC; bonds due April 15, 2112; proceeds for general corporate needs of the university.

UTAH BOARD OF REGENTS: $518.7 million series 2012-1 Libor-indexed taxable student-loan backed notes (/AA+(sf)/AAA(sf)); negotiated; RBC Capital Markets LLC (lead); notes due Dec. 26, 2031; proceeds to finance student loans.

WESTLANDS WATER DISTRICT (CALIFORNIA): $84.51 million series 2012A refunding revenue bonds (/A+/AA-); negotiated; Citigroup Global Markets Inc. (lead); proceeds to refund the district's series 2002A certificates of participation.

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