Municipals Calendar: Puerto Rico prepares $1.9 billion bond deal

Week of March 5

GARLAND INDEPENDENT SCHOOL DISTRICT (TEXAS): $106,686,308 series 2012 unlimited tax refunding bonds (Aaa/AA/); negotiated; Southwest Securities Inc. (lead); Estrada Hinojosa & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co.; and Raymond James & Associates Inc. (co-managers); proceeds to refund a portion of the district's unlimited tax debt; pricing week of March 5.

• $2,621,308 capital appreciation bonds due 2012 to 2016

• $104,065,000 current interest bonds due 2017 to 2028

HOUSTON (TEXAS): $520 million series 2012 airport system revenue refunding bonds; negotiated; Morgan Stanley & Co. LLC (lead); Ramirez & Co. Inc., RBC Capital Markets LLC, Blaylock Robert Van LLC, Jefferies & Co. and Wells Fargo Securities LLC (co-managers); proceeds to refund the city's series 1998B-C, 2000A, 2001A and 2002A-B airport system revenue bonds; pricing week of March 5.

• $280 million series 2012A AMT bonds due 2016 to 2032

• $220 million series 2012B AMT bonds due 2021 to 2032

• $20 million series 2012C taxable bonds due 2013 to 2015

INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF TEMPE (ARIZONA): $79.58 million series 2012 revenue refunding bonds; negotiated; Ziegler Capital Markets Inc. (lead); proceeds to refund existing debt and make a deposit to a debt service reserve fund; pricing week of March 5.

• $75,095,000 series 2012A bonds

• $4,485,000 series 2012B taxable bonds

LONG BEACH BOND FINANCE AUTHORITY (CALIFORNIA)/AQUARIUM OF THE PACIFIC: $100 million series 2012 refunding revenue bonds (A1); negotiated; Loop Capital Markets LLC (lead); De La Rosa & Co. Inc. and Morgan Stanley & Co. LLC (co-managers); proceeds to refund and defease existing debt; pricing week of March 5.

LOS ANGELES COUNTY (CALIFORNIA)/DISNEY CONCERT HALL PARKING GARAGE: $51 million series 2012 refunding certificates of participation (A1/A+/A+); negotiated; Wells Fargo Securities LLC and De La Rosa & Co. Inc. (lead); certificates due 2020 to 2023; proceeds to prepay all of the outstanding series 1998 certificates of participation on April 20 at par; pricing week of March 5.

NEVADA: $115.7 million series 2012 general obligation bonds (Aa2/AA/AA+); negotiated; Morgan Stanley & Co. LLC (lead); Robert W. Baird & Co. Inc. and RBC Capital Markets LLC (co-managers); proceeds to fund capital projects in the state; pricing week of March 5.

• $24,985,000 series 2012A Nevada Municipal Bond Bank bonds due 2012 to 2031

• $47,455,000 series 2012B capital improvement and cultural affairs refunding bonds due 2013 to 2022

• $21.62 million series 2012C natural resources refunding bonds due 2013 to 2024

• $4.23 million series 2012D open space, parks and natural resources refunding bonds due 2014 to 2023

• $17.41 million series 2012E Colorado River Commission Hoover uprating refunding bonds due 2013 to 2016

NEW YORK STATE THRUWAY AUTHORITY: $233,185,000 series 2012A local and state highway service contract bonds; negotiated; Wells Fargo Securities LLC and Jackson Securities Inc. (lead); Barclays Capital Inc., Jefferies & Co. and RBC Capital Markets LLC (co-managers); bonds due 2013 to 2016; proceeds to refund authority's series 2002 service contract bonds; pricing week of March 5.

PENNSYLVANIA ECONOMIC DEVELOPMENT AUTHORITY: $102.44 million series 2012A exempt facilities revenue refunding bonds (A1/A-/); negotiated; Goldman, Sachs & Co. and J.P. Morgan Securities LLC (lead); proceeds to refund authority's series 2001A bonds, which were used to fund the construction and equipment of the Richmond Frequency Converter in Philadelphia for Amtrak; pricing week of March 5.

PUERTO RICO: $1.9 billion series 2012 general obligation public improvement refunding bonds; negotiated; Barclays Capital Inc. and J.P. Morgan Securities LLC (lead for 2012A); UBS FS Puerto Rico (lead for 2012B); Goldman, Sachs & Co.; Jefferies & Co.; BMO Capital Markets Inc.; Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Morgan Stanley & Co. LLC; Ramirez & Co. Inc.; Raymond James & Associates Inc.; RBC Capital Markets LLC; UBS FS Puerto Rico; Wells Fargo Securities LLC; BBVAPR MSD; First Bank Puerto Rico Securities; Oriental Securities Inc.; Popular Securities Inc.; Santander Securities Inc.; Scotia MSD; and VAB Financial Inc. (co-managers for 2012A); Bank of America Merrill Lynch; Popular Securities Inc.; Santander Securities Inc.; Barclays Capital Inc.; BBVAPR MSD; Citigroup Global Markets Inc.; First Bank Puerto Rico Securities; Oriental Securities Inc.; Ramirez & Co. Inc.; Raymond James & Associates Inc.; and Scotia Bank MSD (co-managers for 2012B); proceeds to repay Government Development Bank lines of credit and refund existing debt; pricing week of March 5.

March 7

MARYLAND: $921.59 million series 2012 state and local facilities loan general obligation bonds; negotiated and competitive; Bank of America Merrill Lynch (lead for 2012A); Citigroup Global Markets Inc.; J.P. Morgan Securities LLC; M&T Securities Inc.; Siebert Brandford Shank & Co. LLC; Barclays Capital Inc.; Goldman, Sachs & Co.; Loop Capital Markets LLC; Morgan Keegan & Co. Inc.; and RBC Capital Markets LLC (co-managers for 2012A); Public Financial Management Inc. and Strategic Solutions Center LLC (financial advisers for 2012B-C); proceeds to make a deposit to the state's state and local facilities loan account to be expended as projects arise; pricing March 7.

• $150 million series 2012A tax-exempt bonds due 2015 to 2027

• $450 million series 2012B tax-exempt bonds due 2015 to 2027

• $321.59 million series 2012C tax-exempt refunding bonds due 2016 to 2022

MASSACHUSETTS HOUSING FINANCE AGENCY: $75,265,000 single family housing revenue bonds; negotiated; Morgan Stanley & Co. LLC, Barclays Capital Inc. and Bank of America Merrill Lynch (lead); Citigroup Global Markets Inc.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; CastleOak Securities LP; Corby Capital Markets Inc.; Eastern Bank Capital Markets; Fidelity Capital Markets Inc.; George K. Baum & Co.; Janney Montgomery Scott LLC; M.R. Beal & Co. Inc.; Morgan Keegan & Co. Inc.; Piper Jaffray & Co.; Ramirez & Co. Inc.; Raymond James & Associates Inc.; Rice Financial Products Co.; Siebert Brandford Shank & Co. LLC; Wells Fargo Securities LLC; and The Williams Capital Group LP (co-managers); proceeds to fund single family housing loans; pricing March 7.

• $35.01 million series 157 AMT bonds due 2012 to 2023 with term bond due in 2027

• $10,255,000 series 158 non-AMT bonds due 2013 to 2017

• $30 million series 159 non-AMT bonds due 2012 to 2023 with term bonds due in 2027 and 2032

METROPOLITAN TRANSPORTATION AUTHORITY (NEW YORK): $400 million series 2012 transportation revenue bonds; competitive; Lamont Financial Services Corp. (financial adviser); proceeds to finance commuter and transit projects; pricing March 7.

• $50 million series 2012A-1 floating-rate tender notes due May 15, 2013

• $50 million series 2012A-2 floating-rate tender notes due May 15, 2014

• $50 million series 2012A-3 floating-rate tender notes due May 15, 2015

• $250 million series 2012B fixed-rate bonds due 2012 to 2039

March 8

ALABAMA 21ST CENTURY AUTHORITY: $95 million series 2012 tobacco settlement revenue refunding bonds (/A-/BBB-); negotiated; Citigroup Global Markets Inc. (lead); proceeds to refund prior tobacco settlement revenue bonds; pricing March 8.

BROWARD COUNTY (FLORIDA): $327.39 million series 2012 water and sewer utility revenue and revenue refunding bonds (Aa2/AA/AA+); negotiated; Citigroup Global Markets Inc. (lead); Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; and J.P. Morgan Securities LLC (co-managers); proceeds to improve two of the county's water treatment plants, construct and reconstruct water mains and wastewater mains and lift stations, construct a water storage and re-pumping facility and expand the North Regional Wastewater Treatment Plant, as well as to refund the county's series 2003 water and sewer utility revenue bonds; pricing March 8.

• $138.21 million series 2012A revenue bonds due 2013 to 2032 with term bond due in 2037

• $141,355,000 series 2012B revenue refunding bonds due 2018 to 2029

• $47,825,000 series 2012C taxable refunding bonds due 2013 to 2018

CHARLESTON COUNTY (SOUTH CAROLINA): $68,745,000 series 2012 general obligation transportation sales tax refunding bonds (Aaa//AAA); competitive; Davenport & Co. LLC (financial adviser); bonds due 2012 to 2024; proceeds to advance refund existing G.O. debt; pricing March 8.

SAN DIEGO COMMUNITY COLLEGE DISTRICT (CALIFORNIA): $300 million series 2012 general obligation refunding bonds; negotiated; Citigroup Global Markets Inc. and RBC Capital Markets LLC (lead); De La Rosa & Co. Inc. (co-manager); proceeds to advance refund district's series 2003A, 2005 and 2007 G.O. bonds; pricing March 8.

WILLIAMSON COUNTY (TEXAS): $153,165,000 series 2012 limited tax refunding bonds; negotiated; Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (lead); First Southwest Co. and Estrada Hinojosa & Co. Inc. (co-managers); bonds due 2017 to 2030; proceeds to advance refund the county's series 2004 unlimited tax and road refunding bonds, series 2006 unlimited tax road bonds, series 2006 combination tax and revenue certificates of obligation, series 2006 pass-through toll revenue and limited tax bonds, series 2007 unlimited tax road bonds and series 2007A limited tax bonds; pricing March 8.

Week of March 12

March 12

KING COUNTY (WASHINGTON): $67,705,000 series 2012A limited tax general obligation bonds; competitive; Seattle-Northwest Securities Inc. (financial adviser); bonds due 2013 to 2022; proceeds to finance long-term capital costs for the county to upgrade its budget, finance, human resources, payroll and employee benefits systems in the form of a current refund and defeasance of the county's series 2011B limited tax general obligation bond anticipation notes; pricing March 12.

March 14

KNOXVILLE (TENNESSEE): $96.96 million series 2012 electric system revenue refunding bonds (Aa2/AA+/); competitive; Morgan Keegan & Co. Inc. (financial adviser); proceeds to refinance existing debt; pricing March 14.

• $41.2 million series 2012AA electric system revenue refunding bonds due 2012 to 2029

• $26.6 million series 2012Q gas revenue refunding bonds due 2013 to 2029

• $10.9 million series 2012X water system revenue refunding bonds due 2013 to 2029

• $18.26 million series 2012A wastewater system revenue refunding bonds due 2013 to 2029

On the Horizon

ALAMO COMMUNITY COLLEGE DISTRICT (TEXAS): $76,225,000 series 2012 revenue financing system revenue and refunding bonds (Aa2/AA-/); negotiated; Piper Jaffray & Co. (lead); Wells Fargo Securities LLC, Estrada Hinojosa & Co. Inc., Southwest Securities Inc. and Stifel, Nicolaus & Co. Inc. (co-managers); proceeds to construct a parking garage, as well as to refund existing debt.

• $53.86 million series 2012A revenue and refunding bonds due 2013 to 2036

• $22,365,000 series 2012B taxable revenue refunding bonds due 2012 to 2017

DETROIT SCHOOL DISTRICT (MICHIGAN): $251.9 million series 2012A unlimited tax school building and site improvement refunding bonds (Aa2/AA-/); negotiated; Siebert Brandford Shank & Co. LLC (lead); Baird & Co. Inc.; Hutchison, Shockey, Erley & Co.; J.P. Morgan Securities LLC; and Loop Capital Markets LLC (co-managers); proceeds to current refund the district's series 1998B and 2001A school building and site improvement revenue bonds and to advance refund its series 2002A and 2003B school building and site improvement revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/FORDHAM UNIVERSITY: up to $50 million fixed-rate tax-exempt bonds; negotiated; Bank of America Merrill Lynch (lead); maturity not to exceed 22 years; proceeds to refund university's series 1998 revenue bonds and 2002 revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/MANHATTAN COLLEGE: $55 million (maximum); negotiated; proceeds to construct a student commons building and refund the college's series 2000 insured revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/NEW YORK UNIVERSITY: up to $73,025,000 of fixed- and/or variable-rate taxable bonds; maturity not to exceed 40 years; proceeds to pay all or a part of a line of credit used to construct the NYU Global Center for Academic and Spiritual Life.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/NORTH SHORE-LONG ISLAND JEWISH HEALTH SYSTEM: up to $79 million of series 2012 tax-exempt bonds; negotiated; Citigroup Global Markets Inc. (lead); proceeds to refund a portion of the health system's series 1998 bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/TEACHERS COLLEGE: up to $75 million of fixed- and/or variable-rate series 2012 bonds; negotiated; maturity not to exceed 30 years; proceeds to refund authority's MBIA-insured series 2002 bonds, as well as to renovate the college's Bancroft Hall, an eight-story, 108-unit residence hall.

GALLIA COUNTY (OHIO)/HOLZER HEALTH SYSTEM OBLIGATED GROUP: $118.3 million series 2012A hospital facilities revenue refunding and improvement bonds; negotiated; RBC Capital Markets LLC (underwriter); proceeds to construct, acquire, equip and renovate new and existing Holzer Health facilities, as well as to refund its series 1998 and 2005 revenue bonds and repay several promissory notes and commercial loans.

IDAHO STATE BUILDING AUTHORITY: $78,135,000 series 2012 state building refunding revenue bonds (Aa2/AA/); negotiated; Citigroup Global Markets Inc. (underwriter); proceeds to refund debt.

• $6.04 million series 2012A health and welfare bonds due 2012 to 2024

• $36,695,000 series 2012B water center bonds due 2012 to 2043

• $7,045,000 series 2012C Idaho State University bonds due 2012 to 2023

• $5 million series 2012D College of Western Idaho bonds due 2012 to 2023

• $6.77 million series 2012E University of Idaho bonds due 2014 to 2023

• $5,785,000 series 2012F Lewis-Clark State College bonds due 2014 to 2023

• $6,355,000 series 2012G North Idaho College bonds due 2014 to 2023

• $3.12 million series 2012H College of Southern Idaho bonds due 2014 to 2023

• $1,325,000 series 2012I Idaho State Police/POST Academy bonds due 2014 to 2023

ILLINIOS: $500 million series 2012 general obligation bonds; negotiated; Ramirez & Co. Inc. and US Bancorp Investments Inc. (lead); Fifth Third Securities Inc.; The Northern Trust Co.; Sterne, Agee, Leach & Co.; City Securities Corp.; Edward D. Jones & Co. LP; The Williams Capital Group LP; and Podesta & Co. Inc. (co-managers); bonds due 2013 to 2037; proceeds to finance capital projects, such as transportation, school and state facility projects.

LEE COUNTY SCHOOL BOARD (FLORIDA): $116.37 million series 2012B certificates of participation; negotiated; Bank of America Merrill Lynch (lead); Wells Fargo Securities LLC, RBC Capital Markets LLC, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (co-managers); proceeds to refund school board's series 2002A and 2004A certificates.

RALEIGH (NORTH CAROLINA): $119,185,000 series 2012 combined enterprise system revenue refunding bonds (Aa1/AAA/); negotiated; Citigroup Global Markets Inc. (lead); Baird & Co. Inc. and Stephens Inc. (co-managers for 2012A); Wells Fargo Securities LLC (co-manager for 2012B); proceeds to refund city's series 2004 and 2006A combined enterprise system revenue bonds.

• $59,185,000 series 2012A bonds due 2024 to 2031

• $60 million series 2012B bonds due 2013 to 2035

SPECIAL CARE FACILITIES FINANCING AUTHORITY OF THE CITY OF PELL/NOLAND HEALTH SERVICES INC. (ALABAMA): $87.63 million series 2012A revenue bonds (/A-/); negotiated; RBC Capital Markets LLC (lead); bonds due 2012 to 2021 with term bonds due 2026, 2031 and 2039; proceeds to finance capital improvements at Noland health care facilities and advance refund the health care system's series 2007A revenue bonds and current refund its series 2009A revenue bonds.

TRAVIS COUNTY HEALTH FACILITIES DEVELOPMENT CORP./LONGHORN VILLAGE (TEXAS): $112,245,000 series 2012 first mortgage revenue refunding bonds; negotiated; BB&T Capital Markets Inc. and ME Allison & Co. Inc. (lead); proceeds to fund working capital needs of the Longhorn Village retirement community in Austin, Texas, as well as to refund existing debt and terminate a swap agreement connected to the refunded bonds.

• $83,635,000 series 2012A fixed-rate bonds due 2022, 2032, 2042 and 2047

• $5 million series 2012B adjustable-rate bonds due Jan. 1, 2047

• $19 million series 2012C-1 temporary fixed-rate bonds

• $4.61 million series 2012C-2 taxable temporary fixed-rate bonds

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