Municipal Calendar: Port Authority organizes $2 billion bond sale

Week of September 24

ABAG FINANCE AUTHORITY OF NONPROFIT CORPORATIONS/ODD FELLOWS HOME OF CALIFORNIA: $104.1 million series 2012 insured senior living revenue bonds; negotiated; Cain Brothers Inc. (lead); bonds due 2013 to 2022 with term bonds due in 2032 and 2042; proceeds to prepay the series 1993 and 1999 certificates of participation issued for the Odd Fellows Home by the California Statewide Communities Development Authority, as well as refund the corporation's series 2003A bonds; pricing week of Sept. 24.

ALLEGHENY COUNTY (PENNSYLVANIA): $169 million series C general obligation and refunding bonds (A1/A+/); negotiated; PNC Capital Markets LLC (bookrunner); RBC Capital Markets LLC (co-senior manager); Boenning & Scattergood Inc., Janney Montgomery Scott LLC and Loop Capital Markets LLC (co-managers); proceeds to current refund the county's series C-55 G.O. refunding bonds, the Allegheny County Industrial Development Authority's series 2002A-B guaranteed revenue bonds and its series C-69 adjustable-rate G.O. bonds; pricing week of Sept. 24.

• $54 million series C-69 G.O. refunding bonds

• $115 million series C-70 G.O. bonds

ALLENTOWN NEIGHBORHOOD IMPROVEMENT ZONE DEVELOPMENT AUTHORITY (PENNSYLVANIA): $234.9 million series 2012 tax revenue bonds (Baa2); negotiated; Citigroup Global Markets Inc. (lead); proceeds to fund capital improvements to the Allentown Neighborhood Improvement Zone, including the construction of a multipurpose sports and entertainment complex that includes an 85,000-seat hockey arena and a 10,000-seat concert and convention center, as well as parking facilities, office and hotel pad sites and a restaurant pad site, as well as to refund a previous note; pricing week of Sept. 24.

• $178.9 million series 2012A bonds

• $56 million series 2012B bonds

BROOMFIELD (COLORADO): $109.8 million series 2012 sales and use tax revenue refunding bonds (Aa3); competitive; RBC Capital Markets LLC (financial adviser); proceeds to refund the city and county's series 2002A-C and 2009 revenue bonds; pricing week of Sept. 24.

• $100,455,000 series 2012A bonds due 2014 to 2031

• $9,345,000 series 2012B bonds due 2012 to 2014

DULUTH ECONOMIC DEVELOPMENT AUTHORITY/ST. LUKE'S HOSPITAL OF DULUTH OBLIGATED GROUP: $83 million series 2012 health care facilities revenue bonds; negotiated; Ziegler Capital Markets Inc. (lead); proceeds to construct improvements and equip St. Luke's facilities, as well as to current refund the authority's series 2002 revenue bonds; pricing week of Sept. 24.

NEW YORK STATE MUNICIPAL BOND BANK AGENCY: $281.19 million series 2012A special school purpose revenue bonds; negotiated; J.P. Morgan Securities LLC (lead); Citigroup Global Markets Inc., Jefferies & Co. Inc., Morgan Stanley & Co. LLC, M.R. Beal & Co. Inc., Ramirez & Co. Inc., Raymond James/Morgan Keegan, Roosevelt & Cross Inc. and Siebert Brandford Shank & Co. LLC (co-managers); bonds due 2014 to 2022; proceeds to advance refund the agency's series 2003C special school purpose revenue bonds issued on behalf of New York City; pricing week of Sept. 24.

PORT AUTHORITY OF NEW YORK AND NEW JERSEY: $2 billion series 174 consolidated bonds; negotiated; RBC Capital Markets LLC, Bank of America Merrill Lynch, Barclays and Citigroup Global Markets Inc. (lead); Drexel Hamilton LLC, M.R. Beal & Co. Inc., Ramirez & Co. Inc., Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and The Williams Capital Group LP (co-managers); proceeds to finance the redevelopment of the World Trade Center site, as well as to refund existing debt; pricing week of Sept. 24.

PORT OF OAKLAND (CALIFORNIA): $391.5 million series 2012 refunding revenue bonds (A2//A+); negotiated; Bank of America Merrill Lynch (lead); proceeds to refund existing debt; pricing week of Sept. 24.

• $381.4 million series 2012P AMT refunding revenue bonds

• $9.1 million series 2012Q non-AMT refunding revenue bonds

• $1 million series 2012R taxable refunding revenue bonds

REGIONAL AIRPORTS IMPROVEMENT CORP. (CALIFORNIA)/LOS ANGELES INTERNATIONAL AIRPORT: $65 million series 2012 Laxfuel Corp. facilities lease refunding revenue bonds (/A/); negotiated; Morgan Stanley & Co. LLC and Bank of America Merrill Lynch (lead); proceeds to refund existing lease revenue bonds; pricing week of Sept. 24.

TARRANT COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP.: $100 million series 2012A Texas Health Resources System revenue bonds (Aa3/AA-/); negotiated; Morgan Stanley & Co. LLC and Bank of America Merrill Lynch (lead); proceeds to finance the construction, acquisition, equipment and renovation of Texas Health Resources' facilities; pricing week of Sept. 24.

VIRGINIA HOUSING DEVELOPMENT AUTHORITY: $175 million series 2012D taxable rental housing bonds (Aa1/AA+/); negotiated; Raymond James/Morgan Keegan (lead); BB&T Capital Markets LLC (co-manager); bonds due 2014 to 2028 with term bonds due 2032, 2037 and 2042; proceeds to redeem existing rental housing bonds; pricing week of Sept. 24.

September 25

CALIFORNIA: $1.55 billion series 2012 various purpose general obligation and refunding bonds (A1//A-); negotiated; RBC Capital Markets LLC (lead); proceeds to fund various capital needs and refund existing G.O. debt; pricing Sept. 25.

• $1 billion various purpose G.O. bonds

• $550 million various purpose G.O. refunding bonds

MASSACHUSETTS: $400 million series 2012C consolidated loan general obligation bonds; competitive; Public Resources Advisory Group (financial adviser); bonds due 2027 to 2042; proceeds to finance or reimburse the commonwealth for capital expenditures; pricing Sept. 25.

September 26

VERMONT: $90,165,000 series 2012 general obligation bonds (Aaa/AA+/AAA); negotiated and competitive; Citigroup Global Markets Inc. (lead for 2012E); Bank of America Merrill Lynch and Wells Fargo Securities LLC (co-managers); Public Resources Advisory Group (financial adviser for 2012F); proceeds to finance to improvements to state buildings, educational facilities and agricultural projects throughout the state; pricing Sept. 26.

• $27.35 million series 2012E G.O. bonds due 2014 to 2024

• $62,815,000 series 2012F G.O. bonds due 2013 to 2032

September 27

MASSACHUSETTS: $1.2 billion series 2012 general obligation revenue anticipation notes; competitive; Public Financial Management Inc. (financial adviser); proceeds to finance capital expenditures for the commonwealth ahead of the collection of certain revenues; pricing Sept. 27.

• $600 million series 2012A notes due April 25, 2013

• $600 million series 2012B notes due May 23, 2013

SOUTH JERSEY PORT CORP.: $58,115,000 series 2012 marine terminal revenue and refunding bonds (A1/A-/); competitive; Goldman, Beale Associates (financial adviser); bonds due 2014 to 2033; proceeds to advance refund the corporation's series 2002K-L marine terminal revenue bonds; pricing Sept. 27.

• $58.99 million series 2012Q marine terminal revenue refunding bonds due 2014 to 2033

• $16.75 million series 2012R marine terminal revenue bonds due 2014 to 2024

SUFFOLK COUNTY WATER AUTHORITY (NEW YORK): $80 million series 2012A water system revenue bonds (/AA+/AAA); competitive; Goldman, Sachs & Co. (financial adviser); bonds due in 2038; proceeds to construct and acquire improvements to the county's water system; pricing Sept. 27.

Week of October 1

October 2

KANSAS DEPARTMENT OF TRANSPORTATION: $153.59 million series 2012B highway revenue refunding bonds (Aa1/AAA/AA+); competitive; Public Financial Management Inc. (financial adviser); bonds due 2019 to 2022; proceeds to refund the department's series 2004A highway revenue bonds; pricing Oct. 2.

On the Horizon

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.

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/LONG ISLAND UNIVERSITY: $57,945,000 series 2012 revenue bonds; negotiated; Piper Jaffray & Co. Inc. (lead); bonds due 2013 to 2027 with a term bond due in 2032; proceeds to current refund all or a portion of the authority's series 1999 and 2003A-B bonds sold for the university.

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.

HARRIS COUNTY (TEXAS): $375 million series 2012 toll road senior lien revenue refunding bonds (/AA-/AA-); negotiated; Wells Fargo Securities LLC and Bank of America Merrill Lynch (lead); Loop Capital Markets LLC, Mesirow Financial Inc., M.R. Beal & Co. Inc., RBC Capital Markets LLC and Robert W. Baird & Co. Inc. (co-managers); proceeds to refund outstanding toll road senior lien revenue bonds.

• $275 million series 2012C bonds

• $100 million series 2012D bonds

HEALTH AND EDUCATIONAL FACILITIES AUTHORITY OF THE STATE OF MISSOURI/HEARTLAND REGIONAL MEDICAL CENTER: $50 million series 2012 health facilities revenue bonds (A1//A+); negotiated; BMO Capital Markets LLC and Wells Fargo Securities LLC (lead); proceeds to finance a loan to the medical center for the construction, remodeling, acquisition, renovation and equipment of Heartland facilities.

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.

LEE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/CYPRESS COVE AT HEALTH PARK FLORIDA INC.: $64,885,000 series 2012 health care facilities revenue refunding bonds; negotiated; H.J. Sims & Co. (lead); proceeds to refund the authority's series 1997A and 2002A revenue bonds.

MINNESOTA OFFICE OF HIGHER EDUCATION: $375 million series 2012 adjustable rate supplemental student loan program revenue bonds (/AA-/A-1+/AA/F1+); negotiated; RBC Capital Markets LLC (lead); bonds due Aug. 1, 2047; proceeds to finance or refinance student loans originated under the office's supplemental student loan program, as well as to refund existing debt.

• $66.8 million series 2012A taxable bonds

• $308.2 million series 2012B AMT bonds

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.

NASSAU COUNTY LOCAL ECONOMIC ASSISTANCE CORP./WINTHROP-UNIVERSITY HOSPITAL ASSOCIATION: $132 million series 2012 revenue bonds (Baa1//BBB+); negotiated; Goldman, Sachs & Co. (lead); proceeds to refund corporation's series 2001A-B and 2003A-B revenue bonds.

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/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.

RIVERSIDE COUNTY (CALIFORNIA): $145,265,000 series 2012D Teeter obligation notes (MIG 1//F1+); negotiated; Citigroup Global Markets Inc. and Bank of America Merrill Lynch (lead); notes due Oct. 16, 2013; proceeds to fund an advance of unpaid property taxes for agencies participating in the county's Teeter program and to refund the county's series 2011B Teeter obligation notes.

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 Capital Inc. and J.P. Morgan Securities LLC; bonds due April 15, 2112; proceeds for general corporate needs of the university.

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