Municipal Calendar: California plans $10 billion sale of RANs

Week of August 13

CARMEL (INDIANA)/MAYFLOWER COMMUNITIES: $119,245,000 series 2012 revenue bonds; negotiated; Ziegler Capital Markets Inc. (lead); proceeds to construct, renovate and equip independent living facilities, catered living facilities, an assisted living center and other facilities at the Barrington of Carmel senior living facility; pricing week of Aug. 13.

• $94,545,000 series 2012A revenue bonds due Nov. 15, 2047

• $3 million series 2012B accelerated redemption reset option securities due Nov. 15, 2019

• $3,875,000 series 2012C-1 mandatory paydown securities due Nov. 15, 2019

• $7,925,000 series 2012C-2 mandatory paydown securities due Nov. 15, 2018

• $4.1 million series 2012C-3 mandatory paydown securities due Nov. 15, 2018

• $5.8 million series 2012A taxable mandatory paydown securities through Mayflower Communities due Nov. 15, 2017

JEA (FLORIDA): $84,705,000 St. John's River Power Park System series 25 issue two refunding revenue bonds (Aa2//AA-); negotiated; RBC Capital Markets Corp. (lead); Barclays; Bank of America Merrill Lynch; BMO Capital Markets Corp.; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; Jefferies & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Morgan Stanley & Co. LLC; Piper Jaffray & Co.; Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); due Oct. 1, 2012 to Oct. 1, 2014, Oct. 1, 2016 and Oct. 1, 2021; proceeds to refund and defease a portion of series 22 issue two refunding revenue bonds; pricing week of Aug. 13.

MISSISSIPPI DEVELOPMENT BANK $67,035,000 series 2012 special obligation bonds (Aa3/AA-/); negotiated; Rice Financial Products Co. (lead); proceeds to finance capital improvements to the City of Jackson's water and sewer system; pricing week of Aug. 13.

• $62.3 million series 2012A bonds

• $4,735,000 series 2012B bonds

NEW MEXICO HOSPITAL EQUIPMENT LOAN COUNCIL/PRESBYTERIAN HEALTHCARE SERVICES: $75 million series 2012A hospital revenue bonds (Aa3/AA/AA-); negotiated; Goldman, Sachs & Co. (lead); J.P. Morgan Securities LLC (co-manager); proceeds to pay or reimburse for costs to acquire, construct, improve, equip and furnish medical care property and facilities; pricing week of Aug. 13.

August 16

CALIFORNIA: $10 billion series 2012-2013 revenue anticipation notes (MIG 1/SP-1+/F1); negotiated; J.P. Morgan Securities LLC, Wells Fargo Securities LLC and De La Rosa & Co. (lead); Academy Securities, Inc.; Alamo Capital; Backstrom McCarley Berry & Co., LLC; Baird; BMO Capital Markets GKST Inc.; Barclays; Blaylock Robert Van, LLC; Bank of America Merrill Lynch; Cabrera Capital Markets, LLC; Citigroup Global Markets Inc.; City National Securities, Inc.; Comerica Securities; Drexel Hamilton, LLC; Fidelity Capital Markets LLC; Goldman, Sachs & Co.; Jackson Securities, LLC; Jefferies & Co.; KeyBanc Capital Markets Inc.; Loop Capital Markets LLC; M.R. Beal & Co.; Mitsubishi UFJ Securities; Morgan Stanley & Co. LLC; Oppenheimer & Co. Inc. Piper Jaffray & Co.; Prager & Co., LLC; Ramirez & Co., Inc.; Raymond James/Morgan Keegan; RBC Capital Markets Corp.; Rice Financial Products Co.; Siebert Brandford Shank & Co., LLC; Southwest Securities, Inc.; Stone & Youngberg; Williams Capital Group LP; U.S. Bancorp Investments, Inc.; Wedbush Securities and William Blair & Co. (co-managers); proceeds to assist in cash management for the state's fiscal 2012-2013 fiscal year; pricing Aug. 16.

• Series A1 notes due May 30, 2013

• Series A2 notes due June 20, 2013

Week of August 20

August 21

CANYONS SCHOOL DISTRICT BOARD OF EDUCATION (UTAH): $80 million series 2012 general obligation bonds (Aaa//AAA); competitive; George K. Baum & Co. (financial adviser); serial maturities from 2013 through 2032; proceeds to finance the costs to acquire land and construct and furnish new school facilities and to renovate and improve existing school facilities; pricing Aug. 21.

August 23

FREDERICK COUNTY (MARYLAND): $61.95 million series 2012B general obligation public facilities taxable refunding bonds; competitive; Davenport & Co. LLC (financial adviser); bonds due 2013 to 2020 proceeds to advance refund county bonds; pricing Aug. 23.

On the Horizon

BAYLOR COLLEGE OF MEDICINE (TEXAS): $111,845,000 series 2012 medical facilities mortgage bonds (/A-/); negotiated; Barclays and Bank of America Merrill Lynch; proceeds to refund outstanding bonds.

BAYLOR COLLEGE OF MEDICINE/HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP. (TEXAS): $277,955,000 series 2012 medical facilities mortgage revenue refunding bonds (/A-/); negotiated; Barclays and Bank of America Merrill Lynch (lead for 2012A), Bank of America Merrill Lynch (sole for 2012B); proceeds to refund outstanding bonds.

• $202,955,000 of series 2012A medical facilities mortgage revenue refunding bonds

• $75 million of series 2012B medical facilities mortgage revenue refunding bonds due Nov. 15, 2045

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.

CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY/CHILDREN'S HOSPITAL OF LOS ANGELES: $174,585,000 series 2012 revenue bonds (Baa2/BBB+/); negotiated; Bank of America Merrill Lynch and Citigroup Global Markets Inc. (lead); proceeds to prepay the hospital's series 1999 certificates and refund its series 2009 and 2010B bonds.

• $122.44 million series 2012A bonds due 2015 to 2027 with term bonds due in 2029, 2032 and 2034

• $52,145,000 series 2012B variable-rate revenue bonds due July 1, 2042

CARSON CITY/CARSON TAHOE REGIONAL HEALTHCARE (NEVADA): $54,115,000 series 2012 hospital revenue refunding bonds (/BBB+/); negotiated; Ziegler Capital Markets Inc.; proceeds to refund portions of outstanding series 2002 and series 2003A hospital revenue bonds.

CHICAGO/CHICAGO O'HARE INTERNATIONAL AIRPORT: $443.34 million series 2012 passenger facility charge revenue refunding bonds (A2/A-/A); negotiated; Citigroup Global Markets Inc. (lead); Wells Fargo Securities LLC, Loop Capital Markets LLC, Backstrom McCarley Berry & Co. LLC, BNY Mellon, Gardner Rich, Jackson Securities LLC, J.P. Morgan Securities LLC, Oppenheimer & Co. Inc., Rockfleet and Touissant Capital Partners (co-managers); proceeds to refund existing passenger facility charge bonds.

• $113.71 million series 2012A non-AMT bonds due 2013 to 2027 with term bond due in 2032

• $329.63 million series 2012B AMT bonds due 2013 to 2027 with term bond due in 2032

COLORADO HEALTH FACILITIES AUTHORITY/COVENANT RETIREMENT COMMUNITIES: $155,745,000 revenue and refunding bonds (/BBB-/BBB+); negotiated; Ziegler Capital Markets Inc. (lead); proceeds to finance the acquisition, construction, renovation, remodeling and equipping of retirement communities and to refund outstanding revenue bonds.

• $107,040,000 of series 2012A bonds

• $23,585,000 of series 2012B bonds

• $25,120,000 of series 2012C bonds

DALLAS (TEXAS): $366.93 million series 2012 waterworks and sewer system revenue refunding bonds (Aa1/AAA/); negotiated; Citigroup Global Markets Inc. and Ramirez & Co. Inc. (lead); Frost Bank, Goldman, Sachs & Co., Jackson Securities, Loop Capital Markets LLC, Piper Jaffray & Co., Stifel, Nicolaus & Co. Inc. and Wells Fargo Securities LLC (co-managers); proceeds to refund the city's series 2003, 2005 and 2006 waterworks and sewer improvement and revenue refunding bonds.

• $259,995,000 series 2012A bonds due 2013 to 2032 with term bonds due 2037 and 2041

• $106,935,000 series 2012B bonds due 2013 to 2027 with term bond due 2031

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: up to $270 million tax-exempt and/or taxable fixed-rate bonds; negotiated; proceeds to finance capital projects at various campuses throughout the State University of New York System and current refund existing lease revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/LONG ISLAND UNIVERSITY: up to $66 million fixed-rate tax-exempt and/or taxable bonds; proceeds to current refund all or a portion of the authority's series 1999 and 2003A-B bonds sold for the university.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/MIRIAM OSBORN MEMORIAL HOME ASSOCIATION: up to $55 million tax-exempt revenue bonds; negotiated; Herbert J. Sims & Co. (lead); proceeds to make renovations and upgrades to the association's independent and assisted living facilities, as well as to refund its series 2000B 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.

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.

ENERGY NORTHWEST (WASHINGTON): $777.18 million Columbia Generating Station electric revenue bonds; negotiated; Bank of America Merrill Lynch, Citigroup and Goldman, Sachs & Co.; proceeds to acquire fuel for the generating station and to finance repairs, renovations and improvements.

• $34,435,000 series 2012D bonds due 2025 to 2032, 2037, 2044

• $742,745,000 series 2012E bonds due 2015, 2018 to 2027

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.

FLORIDA MUNICIPAL LOAN COUNCIL: $59.56 million series 2012 infrastructure improvement revenue bonds; negotiated; Wells Fargo Securities LLC and Oppenheimer & Co. Inc. (lead); proceeds to partially finance the design and construction of State Road 9B between Interstate 95 and U.S. Route 1 in Duval County, Fla.

FORT WORTH (TEXAS): $139,635,000 series 2012 general purpose refunding and improvement bonds (Aa1//AA+); negotiated; Loop Capital Markets LLC (lead); Wells Fargo Securities LLC, RBC Capital Markets LLC, Baird & Co. and BOSC Inc. (co-managers); bonds due 2013 to 2032; proceeds to construct permanent street and storm sewer improvements, as well as to refund the city's series 2008 general purpose bonds and series 2008 combination revenue and tax certificates of obligation.

HOUSTON (TEXAS): $140 million series 2012D combined utility system revenue refunding bonds (/AA/AA-); negotiated; Cabrera Capital Markets LLC, Goldman, Sachs & Co. and Raymond James/Morgan Keegan (lead); Citigroup Global Markets Inc. (co-manager); proceeds to construct, equip and repair portions of the city's utility system, as well as to refund all or a portion of the city's series B commercial paper notes.

HOUSTON (TEXAS)/CONVENTION & ENTERTAINMENT FACILITIES DEPARTMENT: hotel occupancy tax and special revenue refunding bonds (A2/A-/); negotiated; Hutchinson, Shockey, Erley & Co. and Mesirow Financial (lead); bonds due 2026 to 2033; proceeds to refund city's series 2001B-C and 2011A-B hotel occupancy tax and special revenue bonds.

LAKELAND (FLORIDA): $100 million series 2012 variable-rate energy system refunding bonds (A1/AA/AA-); negotiated; Goldman, Sachs & Co. (lead); bonds due Oct. 1, 2017; bonds bear interest at the adjusted Sifma or the adjusted Libor rate; proceeds to refund the city's series 2009 variable-rate energy system refunding bonds.

MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES/JOHNS HOPKINS HEALTH SYSTEM OBLIGATED GROUP: $169,655,000 revenue bonds (Aa3/AA-/AA-); index floating-rate mode; negotiated; J.P. Morgan Securities LLC and Goldman, Sachs & Co.; proceeds to refund outstanding bonds.

• $84,605,000 of series 2012C bonds

• $85,050,000 of series 2012D bonds

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/NORTHEASTERN UNIVERSITY: $53,645,000 series 2012 revenue bonds (A2); negotiated; Barclays and Morgan Stanley & Co. LLC (lead); bonds due 2025 to 2032 and a term bond due 2035; proceeds to pay the outstanding principal on series 2008S revenue bonds due Oct. 1, 2012.

MIAMI BEACH HEALTH FACILITIES AUTHORITY/MOUNT SINAI MEDICAL CENTER (FLORIDA): $133,525,000 series 2012 hospital revenue refunding bonds (Baa2/BBB/); negotiated; Raymond James/Morgan Keegan (lead); proceeds to refund and redeem series 1998 and series 2001A bonds.

MICHIGAN FINANCE AUTHORITY/CITY OF DETROIT: $122,995,000 series 2012C limited tax general obligation third-lien local project local government loan program revenue bonds (A3/A+/); negotiated; Bank of America Merrill Lynch (lead); Loop Capital Markets LLC (co-manager); bonds due 2014 to 2032; proceeds to fund the city's risk management program and other municipal purposes.

MICHIGAN FINANCE AUTHORITY/SPARROW OBLIGATED GROUP: $96,385,000 series 2012 hospital revenue bonds (A1//); negotiated; RBC Capital Markets Corp. (lead); PNC Capital Markets LLC (co-manager); bonds due 2017 to 2027; proceeds to construct, renovate and equip the main hospital campus and ambulatory sites; closing Aug. 21.

MINNESOTA HOUSING FINANCE AGENCY: $50 million series 2012A non-AMT homeownership finance bonds; negotiated; RBC Capital Markets LLC, Morgan Stanley & Co. LLC and Piper Jaffray & Co. (lead); bonds due Sept. 1, 2042; proceeds to finance housing loans to qualified Minnesota residents.

NEW YORK STATE MORTGAGE AGENCY: $89.46 million series 175 taxable housing mortgage revenue bonds (Aa1); negotiated; Bank of America Merrill Lynch (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, CastleOak Securities, George K. Baum & Co., Loop Capital Markets LLC, M&T Securities Inc., Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers); bonds due 2013 to 2023 with term bonds due 2025 and 2028; proceeds to finance mortgage loans.

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.

NORTH TEXAS HIGHER EDUCATIONAL AUTHORITY, INC.: $463.2 million series 2012-1 Libor floating-rate bonds (/AA+(sf)/AAAsf); negotiated; Bank of America Merrill Lynch (lead); bonds due Dec. 1, 2034; proceeds to refund the authority's series 1998, 2000B, 2001A, 2004A, 2005A-B, 2007A-B and 2010A floating-rate bonds.

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.

PALM BEACH COUNTY SCHOOL BOARD (FLORIDA): $68.12 million series 2012C certificates of participation (Aa3//AA-); negotiated; Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); COPs due 2016 to 2029; proceeds to refund school board's series 2004A COPs.

SEMITROPIC IMPROVEMENT DISTRICT OF SEMITROPIC WATER STORAGE DISTRICT (CALIFORNIA): $84.2 million water banking revenue refunding bonds (/A+/AA-); negotiated; Wells Fargo Securities LLC; proceeds to refund and defease outstanding obligations.

• $72 million series 2012A bonds

• $12.2 million series 2012B bonds

SOUTH JERSEY PORT CORP.: $58,115,000 series 2012Q marine terminal revenue refunding bonds (A1/A-/); competitive; Goldman Beale Associates (financial adviser); bonds due 2014 to 2033; proceeds to advance refund the corporation's series 2002K marine terminal revenue bonds.

SOUTH-WESTERN CITY SCHOOL DISTRICT/FRANKLIN/PICKAWAY COUNTIES: $139.29 million series 2012 school facilities construction and improvement general obligation bonds (Aa2/AA/); negotiated; Fifth Third Securities and Stifel Nicolaus & Co. (lead); bonds due 2013 to 2032 with term bond due 2037; proceeds to construct, furnish and equip school facilities and for adding additional school facilities, curriculum implementation district-wide and to acquire land and interests in land.

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.

TRANSPORTATION INFRASTRUCTURE PROPERTIES LLC (NEW YORK): $426,275,000 series 2012 revenue and refunding bonds; negotiated; Goldman, Sachs & Co. (lead); Cabrera Capital Markets LLC and Loop Capital Markets LLC (co-managers); proceeds to refund existing airport facilities revenue bonds.

• $125.38 million series 2012A New York Industrial Development Agency senior airport facilities revenue and refunding bonds

• $189,715,000 series 2012B Public Finance Authority senior airport facilities revenue and refunding bonds (/BBB-/)

• $28.2 million series 2012C Public Finance Authority senior airport facilities revenue and refunding bonds

• $13,945,000 series 2012D Public Finance Authority senior airport facilities revenue and refunding bonds

• $15.98 million series 2012E Public Finance Authority senior airport facilities revenue and refunding bonds

• $53,055,000 series 2012F Public Finance Authority senior airport facilities revenue and refunding bonds

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

UNIVERSITY OF ARKANSAS: $61,555,000 series 2012B various facility revenue bonds (Aa2); negotiated; Crews & Associates Inc. and Stephens Inc. (lead); bonds due 2013 to 2032 with term bonds due 2037 and 2042; proceeds to make improvements to the Fayetteville campus, including the renovation and equipment of Hotz Hall; the construction, acquisition, and equipment of a housing office; construction, equipment and acquisition of property for the Uptown campus; and the acquisition, construction and equipment of Founders Hall.

WASHINGTON HEALTH CARE FACILITIES AUTHORITY/KADLEC REGIONAL MEDICAL CENTER: $60 million series 2012 revenue bonds (Baa3); negotiated; Piper Jaffray & Co.; bonds due 2015 to 2022 with term bonds due 2027, 2032 and 2042; proceeds to finance or reimburse the medical center for costs to acquire, construct, remodel, renovate and equip health care facilities.

WAYNE COUNTY AIRPORT AUTHORITY (MICHIGAN): $282 million series 2012 airport revenue bonds; negotiated; Citigroup Global Markets Inc. (lead); J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC, Bank of America Merrill Lynch and Loop Capital Markets LLC (co-managers for 2012A-B); J.P. Morgan, Siebert, Wells Fargo Securities LLC and Loop (co-managers for 2012C-D); proceeds to make capital improvements to the Detroit Wayne County Metropolitan Airport, as well as to refund the authority's series 1998A and 2002C-D revenue bonds.

• $180 million series 2012A non-AMT bonds

• $25 million series 2012B AMT bonds

• $4 million series 2012C non-AMT refunding bonds

• $73 million series 2012D AMT refunding bonds

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