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Published on 10/3/2013 in the Prospect News Municipals Daily.

Municipal Calendar: Connecticut preps $575 million bond offering

Week of September 30

COLORADO HEALTH FACILITIES AUTHORITY/COLORADO WEST HEALTHCARE SYSTEM: $76.19 million series 2013 hospital revenue bonds; negotiated; Cain Brothers (lead); bonds due 2033, 2043 and 2048; proceeds to finance the construction and equipment of a new hospital, as well as to reimburse the health care system for capital improvements and land acquisitions; pricing week of Sept. 30.

CONNECTICUT: $575 million series 2013A GAAP conversion general obligation bonds; negotiated; Ramirez & Co. Inc. (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC, RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Barclays, BofA Merrill Lynch, Goldman, Sachs & Co., Morgan Stanley & Co. LLC, M.R. Beal & Co., Piper Jaffray & Co., Raymond James/Morgan Keegan, Rice Financial Products Co., The Williams Capital Group LP, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC (co-managers); bonds due 2015 to 2027; proceeds to finance a GAAP cash deficit for the state; pricing week of Sept. 30.

Week of October 7

October 8

TEXAS: $113,465,000 series 2013B college student loan general obligation bonds (Aaa/AAA/); competitive; Estrada Hinojosa & Co. Inc. (financial adviser); bonds due 2019 to 2030; proceeds to make low-interest loans to eligible undergraduate college students within the state; pricing Oct. 8.

On the Horizon

AHS HOSPITAL CORP. (NEW JERSEY): $112 million series 2013 taxable bonds (A1/A+/); negotiated; Goldman, Sachs & Co. (lead); proceeds for general corporate purposes.

ALLEGHENY COUNTY (PENNSYLVANIA): $186 million series 2013 general obligation bonds (A1/A+/); negotiated; PNC Capital Markets LLC (lead); Drexel Hamilton LLC, The Huntington Investment Co., Janney Montgomery Scott LLC, RBC Capital Markets LLC and Rice Financial Products Co. (co-managers); proceeds to refund the county's series C-57 notes.

• $135 million series C-71A taxable G.O. refunding bonds due 2013 to 2021

• $16 million series C-71B G.O. refunding bonds due 2021 to 2023

• $35 million series C-72 bonds due 2014 to 2027

ATLANTA DEVELOPMENT AUTHORITY/GEORGIA TECH: $116,095,000 series 2013 TUFF-GATV revenue bonds (A2/A/); negotiated; BofA Merrill Lynch and SunTrust Robinson Humphrey (lead); proceeds to refund the authority's series 2002A-B and 2005A-B revenue bonds.

• $45,645,000 series 2013A-1 revenue bonds due 2020 to 2033 with term bonds due 2038 and 2043

• $5.62 million series 2013A-2 taxable revenue bonds due 2014 to 2020

• $5.35 million series 2013B-1 revenue bonds due 2025 to 2028

• $56,415,000 series 2013B-2 taxable revenue bonds due 2014 to 2033 with term bonds due 2028, 2033 and 2043

• $3,065,000 series 2013C revenue bonds due 2014 to 2027

BRISTOL TOWNSHIP SCHOOL DISTRICT (PENNSYLVANIA): $122.94 million series 2013 general obligation bonds (A1); negotiated; Boenning & Scattergood (lead); proceeds to finance capital improvements to the district's infrastructure.

BROWARD COUNTY (FLORIDA): $434,205,000 series 2013 airport system revenue bonds (A1/A+/A); negotiated; J.P. Morgan Securities LLC and Raymond James/Morgan Keegan (lead); Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC and Ramirez & Co. Inc. (co-managers); proceeds to finance terminal improvements and the expansion of the airport's south runway.

• $164,515,000 series 2013A AMT bonds

• $55.4 million series 2013B non-AMT bonds

• $214.29 million series 2013C non-AMT bonds

CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK/CALIFORNIA INDEPENDENT SYSTEM OPERATOR CORPORATION PROJECT: $195,805,000 series 2013 refunding revenue bonds (A1/A/AA-); negotiated; RBC Capital Markets LLC and Citigroup Global Markets Inc. (lead); bonds due 2015 to 2030 with term bonds due 2034 and 2039; proceeds to advance refund the development bank's series 2009A revenue bonds.

CATHOLIC HEALTH SERVICES OF LONG ISLAND (NEW YORK): $290 million series 2013 taxable bonds (Baa1/BBB+/BBB+); negotiated; Morgan Stanley & Co. LLC and Goldman, Sachs & Co. (lead); proceeds to finance corporate needs for Catholic Health Services.

COMMUNITY COLLEGE DISTRICT NO. 508 (ILLINOIS): $250 million series 2013 unlimited tax general obligation bonds (/AA/AA-); negotiated; Jefferies & Co. (lead); Loop Capital Markets LLC, Ramirez & Co. Inc., BMO Capital Markets Inc., Cabrera Capital Markets LLC, Goldman, Sachs & Co., Lebenthal & Co. LLC, Siebert Brandford Shank & Co. LLC and The Williams Capital Group LP (co-managers); bonds due 2015 to 2043; proceeds to finance improvements at the district's campuses and administrative buildings, as well as to make improvements to properties for future capital projects.

DAYTON CITY SCHOOL DISTRICT (OHIO): $93.45 million series 2013B school facilities construction and improvement unlimited tax refunding notes (MIG 1//F1+); negotiated; PNC Capital Markets LLC and KeyBanc Capital Markets LLC (lead); notes due Oct. 15, 2014; proceeds to refund the district's series 2013 school facilities construction and improvement notes.

DISTRICT OF COLUMBIA/NATIONAL LAW ENFORCEMENT MUSEUM: $99.43 million series 2013 revenue bonds; negotiated; H.J. Sims & Co. (lead); proceeds to reimburse the city for the costs associated with constructing, equipping and furnishing the National Law Enforcement Museum at 444 E Street in Washington, D.C.

• $77.98 million series 2013A bonds due 2023, 2033 and 2048

• $21.45 million series 2013B bonds due 2048

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $1 billion series 2013A state sales tax revenue bonds (/AA/AAA); negotiated; J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Loop Capital Markets LLC and RBC Capital Markets LLC (lead); Barclays, BofA Merrill Lynch, Goldman, Sachs & Co., Jefferies & Co., M.R. Beal & Co., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, Rice Financial Products Co., Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers); proceeds to finance capital projects at the State University of New York, fund environmental remediation projects and fund library projects.

FORT WORTH (TEXAS): $99.2 million series 2013 bonds and certificates of obligation; negotiated; Citigroup Global Markets Inc. (lead); Barclays, BOSC Inc., Stephens Inc. and M.R. Beal & Co. (co-managers); proceeds to finance storm sewer system and street improvements, as well as improvements to park facilities and to refund existing debt.

• $35,755,000 series 2013 general purpose refunding and improvement bonds due 2014 to 2033

• $63,445,000 series 2013 combination tax and revenue certificates of obligation due 2014 to 2034

GEISINGER HEALTH SYSTEM (PENNSYLVANIA): $284.4 million series 2013 taxable bonds (Aa2/AA/); negotiated; J.P. Morgan Securities LLC and Wells Fargo Securities LLC (lead); BofA Merrill Lynch (co-manager); proceeds for general corporate purposes.

HOUSTON HIGHER EDUCATION FINANCE CORP./ST. JOHN'S SCHOOL (TEXAS): $95 million series 2013A education revenue bonds (A3); negotiated; RBC Capital Markets LLC (lead); Frost Bank and BofA Merrill Lynch (co-managers); proceeds to finance or refinance the costs of acquiring property and constructing and renovating school facilities.

IOWA FINANCE AUTHORITY/UNITYPOINT HEALTH: $71,795,000 series 2013C health facilities revenue bonds (Aa3/AA-/); negotiated; Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC (lead); proceeds to refund the authority's series 2005A revenue bonds.

KENTUCKY HIGHER EDUCATION STUDENT LOAN CORP.: $563 million series 2013-2 student loan asset-backed notes (/AA(sf)/AAAsf); negotiated; BofA Merrill Lynch (lead); notes due Feb. 1, 2030; proceeds to fund the cancellation of existing debt under a 2008 indenture and fund student loans.

KERN COMMUNITY COLLEGE DISTRICT (CALIFORNIA): $98,985,000 series 2013 general obligation bonds (Aa2); negotiated; Piper Jaffray & Co. (lead); proceeds to finance capital projects for the district, as well as to refund existing G.O. debt.

• $54,805,000 series 2013C G.O. bonds

• $10,375,000 series 2013 G.O. refunding bonds

• $33,805,000 series 2013 taxable G.O. refunding bonds

LOUISIANA STATE BOND COMMISSION/BIONITROGEN LOUISIANA HOLDINGS LLC: $1.25 billion tax-exempt bonds; proceeds to construct five plants in Point Coupee Parish, La., to convert biomass into urea fertilizer.

METROPOLITAN SEWER DISTRICT OF GREATER CINCINNATI (OHIO): $430,505,000 series 2013 sewer system improvement and refunding revenue bonds (Aa2/AA+/); negotiated; Citigroup Global Markets Inc. (lead); proceeds to make capital improvements to the system, as well as to refund existing debt.

• $294.51 million series 2013A revenue bonds

• $135,995,000 series 2013B taxable refunding bonds

METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA: $145.49 million series 2013 water revenue refunding bonds (Aa1/AAA/AA+); negotiated; Goldman, Sachs & Co. (lead for 2013A, 2013C); De La Rosa & Co. Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC and US Bancorp Inc. (co-managers for 2013A, 2013C); J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead for 2013B); proceeds to refund existing water revenue bonds.

• $90.46 million series 2013A bonds due 2013 and 2018 to 2021

• $18.7 million series 2013B taxable bonds due 2018

• $13,505,000 series 2013C-1 bonds due 2027

• $14.02 million series 2013C-2 bonds due 2025

• $8,805,000 series 2013C-3 bonds due 2023

MISSOURI HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/BJC HEALTH SYSTEM: $255 million series 2013C health facilities revenue bonds (Aa2/AA/); negotiated; RBC Capital Markets LLC (lead); BMO Capital Markets LLC, BNY Mellon Capital Markets LLC, Edward D. Jones & Co. LP, Mitsubishi UFJ Securities and US Bancorp Investments Corp. (co-managers); bonds due 2017 to 2028 with term bonds due 2033 and 2039; proceeds to finance or reimburse the health system for costs related to the construction, acquisition, equipment and installation of improvements and additions to BJC Health System facilities.

MOON INDUSTRIAL DEVELOPMENT AUTHORITY (PENNSYLVANIA)/BAPTIST HOMES SOCIETY: $143.49 million series 2013 revenue bonds; negotiated; H.J. Sims & Co. (lead); bonds due 2023, 2033 and 2048; proceeds to refund the authority's series 2007 variable-rate Baptist Homes Society revenue bonds.

NEW YORK CITY HOUSING DEVELOPMENT CORP.: $72 million series 2013A multifamily housing revenue bonds (Aa2); negotiated; BofA Merrill Lynch (lead); proceeds to finance the acquisition of multifamily housing units within the city.

OKLAHOMA HOUSING FINANCE AGENCY: $55,882,114 series 2013 single-family mortgage revenue bonds; negotiated; BOSC Inc. (lead); BofA Merrill Lynch and George K. Baum & Co. (co-managers); proceeds to finance single-family mortgage loans, as well as to refund existing debt.

• $23,358,840 series 2013C pass-through program non-AMT bonds due March 1, 2044

• $32,523,274 series 2013D pass-through program AMT bonds due Sept. 1, 2035

ORANGE COUNTY SCHOOL BOARD (FLORIDA): $85.16 million series 2013A certificates of participation (Aa2//AA); negotiated; J.P. Morgan Securities LLC (lead); BofA Merrill Lynch, Citigroup Global Markets Inc., Jefferies & Co., Loop Capital Markets LLC, Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); certificates due 2015 to 2029; proceeds to refund the board's series 2004A COPs.

PENNSYLVANIA HOUSING FINANCE AGENCY: $129.07 million series 2013-116 AMT single-family mortgage revenue bonds; negotiated; RBC Capital Markets LLC and BofA Merrill Lynch (lead); Barclays, George K. Baum & Co., Drexel Hamilton LLC, Janney Montgomery Scott LLC, J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, PNC Capital Markets LLC, Quoin Capital LLC and Wells Fargo Securities LLC (co-managers); bonds due 2013 to 2024 with term bonds due in 2028, 2033, 2038, 2040 and 2043; proceeds to finance single-family mortgage loans to qualified Pennsylvania residents.

PUBLIC FINANCE AUTHORITY (WISCONSIN): $51 million series 2013A Linda Paseo student housing senior revenue bonds; negotiated; Guggenheim Securities LLC (lead); proceeds to finance the construction of student housing connected to the Village Linda Paseo project.

RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP./ROGER WILLIAMS UNIVERSITY: $54.79 million series 2013 higher education facility revenue refunding bonds; negotiated; BofA Merrill Lynch (lead); Janney Montgomery Scott LLC, RBC Capital Markets LLC and US Bancorp Investment Co. (co-managers); bonds due 2014 to 2038; proceeds to refund the university's series 2003 and 2008B revenue bonds.

SAGINAW COUNTY (MICHIGAN): $60.55 million series 2013 general obligation limited tax pension obligation bonds (Aa3); negotiated; Fifth Third Securities Inc. (lead); BofA Merrill Lynch and Stifel, Nicolaus & Co. Inc. (co-managers); bonds due 2014 to 2028 with term bond due in 2033; proceeds to fund unfunded pension liabilities for state employees.

SOUTH CAROLINA PUBLIC SERVICE AUTHORITY: $400 million series 2013E tax-exempt revenue bonds; negotiated; BofA Merrill Lynch (lead); bonds due 2048 and 2053; proceeds to partially finance the construction and improvement of two nuclear generating station units within the state.

SOUTHWESTERN ILLINOIS DEVELOPMENT AUTHORITY/MEMORIAL GROUP INC.: $157.87 million series 2013 health facility revenue bonds (/BB+/); negotiated; Piper Jaffray & Co. and Barclays (lead); proceeds to finance the construction, acquire, equip and furnish a 94-bed hospital in Shiloh, Ill., and refund existing debt.

TANGIPAHOA PARISH HOSPITAL SERVICE DISTRICT NO. 1/NORTH OAKS HEALTH SYSTEM (LOUISIANA): $66,245,000 series 2013 hospital revenue bonds (/BBB/); negotiated; Raymond James/Morgan Keegan (lead); proceeds to finance hospital improvements for North Oaks, as well as the refund the district's series 2003A revenue bonds.

• $55,445,000 series 2013A refunding bonds due 2014 to 2028

• $10.8 million series 2013B revenue bonds due 2031 and 2034

UNIVERSITY OF MASSACHUSETTS BUILDING AUTHORITY: $250 million series 2013 refunding revenue bonds; negotiated; Jefferies & Co. (sole underwriter for 2013-3); Wells Fargo Securities LLC (lead for 2013-4); Ramirez & Co. Inc. (lead for 2013-5); proceeds to refund existing revenue debt.

• $80 million series 2013-4 taxable revenue refunding bonds

• $170 million series 2013-5 taxable refunding revenue bonds

UNIVERSITY OF UTAH: $320 million series 2013A general revenue and refunding bonds (Aa1/AA/); negotiated; Goldman, Sachs & Co. and Barclays (lead); BofA Merrill Lynch and J.P. Morgan Securities LLC (co-managers); proceeds to construct and acquire university capital projects, as well as to refund existing debt.

VIRGINIA PUBLIC SCHOOL AUTHORITY/PRINCE WILLIAM COUNTY: $62.43 million series 2013 special obligation school facility bonds (Aaa/AAA/AAA); competitive; Public Financial Management Inc. (financial adviser); bonds due 2014 to 2033; proceeds to finance school capital expenditures in Prince William County.

WASHINGTON STATE HOUSING FINANCE COMMISSION: $107,295,000 series 2013 nonprofit housing revenue bonds; negotiated; Ziegler Capital Inc. (lead); proceeds to construct residential housing units at Rockwood South Hill in Seattle, as well as to refund variable-rate debt.

• $82,495,000 series 2013A revenue and refunding bonds due Jan. 1, 2049

• $4.65 million series 2013B-1 tax-exempt mandatory paydown securities due Jan. 1, 2021

• $4.65 million series 2013B-2 tax-exempt mandatory paydown securities due Jan. 1, 2020

• $15.5 million series 2013B-3 tax-exempt mandatory paydown securities due Jan. 1, 2020

WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT (CALIFORNIA): $125 million series 2013 general obligation bonds (/A+/A+); negotiated; Piper Jaffray & Co. and De La Rosa & Co. (lead); proceeds to finance capital improvement projects, including earthquake safety precautions.

• $85 million election of 2012 series 2013A bonds

• $40 million election of 2010 series 2013B bonds


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