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Published on 3/19/2013 in the Prospect News Municipals Daily.

Municipal Calendar: New Jersey Turnpike to sell $1.4 billion

Week of March 18

CLARK COUNTY (NEVADA): $80 million series 2013A jet aviation fuel tax refunding revenue bonds (A2/A/); negotiated; Citigroup Global Markets Inc. (lead); BofA Merrill Lynch, RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers); bonds due 2019 to 2030; proceeds to refund the county's series 2003C jet aviation fuel tax refunding revenue bonds; pricing March week of 18.

DISTRICT OF COLUMBIA/NATIONAL PUBLIC RADIO: $85.99 million series 2013 refunding revenue bonds (Aa3/AA-/); negotiated; Morgan Stanley & Co. LLC (lead); Loop Capital Markets LLC and J.P. Morgan Securities LLC (co-managers); proceeds to refund NPR's series 2010 revenue bonds; pricing March week of 18.

ERIE COUNTY FISCAL STABILITY AUTHORITY (NEW YORK): $57,705,000 series 2013 sales tax and state aid secured bonds (Aa1//AA+); negotiated; Roosevelt & Cross Inc. and Ramirez & Co. Inc. (lead); proceeds to finance approved county capital outlays and to refund the authority's 2003B, 2004A, 2004C and 2005A bonds; pricing March week of 18.

• $25,355,000 series 2013A bonds due 2015 to 2024

• $32.35 million series 2013B bonds due 2013 to 2024

HARRIS COUNTY CULTURAL EDUCATION FACILITIES FINANCE CORP./MEMORIAL HERMANN HEALTH SYSTEM (TEXAS): $427.31 million series 2013 hospital revenue refunding bonds (A1/A+/); negotiated; J.P. Morgan Securities LLC and RBC Capital Markets LLC (lead for 2013A); Wells Fargo Securities LLC and Citigroup Global Markets Inc. (co-managers for 2013A); J.P. Morgan Securities LLC (sole for 2013B); proceeds to refund the corporation's series 2004A and 2008B-C revenue bonds; pricing week of March 18.

• $305,085,000 series 2013A bonds

• $122,225,000 series 2013B bonds due 2014 to 2024

HARTFORD (CONNECTICUT): $112.81 million series 2013 general obligation bonds and G.O. bond anticipation notes; negotiated; Wells Fargo Securities LLC (lead); Piper Jaffray & Co., Siebert Brandford Shank & Co. LLC and William Blair & Co. (co-managers); proceeds to finance various public improvement projects and school construction projects; pricing March week of 18.

• $48.16 million series 2013B G.O. bonds

• $64.65 million series 2013 G.O. BANs due April 10, 2014

MINNESOTA HOUSING FINANCE AGENCY: $86.51 million series 2013B taxable homeownership finance bonds; negotiated; RBC Capital Markets LLC, Morgan Stanley & Co. LLC and Piper Jaffray & Co. (lead); bonds due Sept. 1, 2041; proceeds to redeem refunded bonds; pricing March week of 18.

NEW JERSEY TURNPIKE AUTHORITY: $1.4 billion series 2013 turnpike toll revenue bonds (A3/A+/A); negotiated; J.P. Morgan Securities LLC (lead); proceeds to finance capital projects; pricing week of March 18.

SACRAMENTO (CALIFORNIA): $219,945,000 series 2013 water revenue bonds (/AA-/AA-); negotiated; Goldman, Sachs & Co. (lead); De La Rosa & Co. Inc., Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC and Stone & Youngberg (co-managers); bonds due 2014 to 2033 with term bonds due 2038 and 2042; proceeds to finance the rehabilitation of water treatment plants, the retrofitting of water meters, the replacement of pipelines and the rehabilitation of groundwater wells; pricing March week of 18.

March 20

MASSACHUSETTS: $525 million series 2013 general obligation bonds; competitive; Public Resources Advisory Group (financial adviser); proceeds to finance capital projects for the commonwealth; pricing March 20.

• $450 million series 2013A consolidated loan G.O. bonds due 2017 to 2020 and 2032 to 2043

• $75 million series 2013B taxable consolidated loan G.O. bonds due 2014 to 2018

NEW YORK CITY TRANSITIONAL FINANCE AUTHORITY: $1 billion series 2013 future tax secured subordinated bonds; negotiated; BofA Merrill Lynch, J.P. Morgan Securities LLC, Wells Fargo Securities LLC, Barclays and Morgan Stanley & Co. LLC (lead); Loop Capital Markets LLC, Goldman, Sachs & Co., Citigroup Global Markets Inc., M.R. Beal & Co., Raymond James/Morgan Keegan, Roosevelt & Cross Inc., Fidelity Capital Markets LLC, Oppenheimer & Co. Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Jefferies & Co., Ramirez & Co. Inc., Rice Financial Products Co., Southwest Securities, BNY Capital Markets LLC, Sterne, Agee & Leach Inc., Estrada Hinojosa & Co. Inc., US Bancorp Investments Inc., Prager & Co. LLC and The Williams Capital Group LP (co-managers); proceeds to finance general city capital expenditures, including the rehabilitation or repair of public schools and land acquisition; pricing March 20.

• $650 million series 2013F-1 tax-exempt bonds due 2015 to 2039

• $100 million series 2013F-2 taxable qualified school construction bonds due Feb. 1, 2038

• $229 million series 2013G tax-exempt bonds due 2013 to 2031

• $21 million series 2013H taxable bonds due 2013 to 2022

Week of April 1

April 2

ILLINOIS: $800 million series of April 2013 general obligation bonds; competitive; Public Resources Advisory Group (financial adviser); proceeds to finance capital projects within the state; pricing April 2.

• $450 million series of April 2013A bonds due 2014 to 2038

• $350 million series of April 2013B bonds due 2014 to 2038

On the Horizon

ALASKA STUDENT LOAN CORP.: $144.73 million series 2013A taxable education loan-backed notes (/AAAsf/AA+(sf)); negotiated; RBC Capital Markets LLC (lead); notes due Aug. 25, 2031; proceeds to finance student loans.

CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK/J. PAUL GETTY TRUST: $162,955,000 series 2013A variable-rate Sifma index refunding revenue bonds (Aaa/AAA/); negotiated; Wells Fargo Securities LLC (lead for 2013A-1); Barclays (lead for 2013A-2); bonds due Oct. 1, 2047; proceeds to refund the trust's series 2007A-1 to 2007A-4 variable-rate bonds.

• $81.49 million series 2013A-1 bonds

• $81,465,000 series 2013A-2 bonds

COOK COUNTY (ILLINOIS): $90 million county road and highway improvement sales tax revenue bonds (//AAA); negotiated; Wells Fargo Securities LLC (lead); proceeds to finance road, bridge and highway infrastructure projects as part of the county's 2012 -2014 highway transportation plan.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/STATE UNIVERSITY OF NEW YORK: $271 million dormitory facilities revenue bonds; term to not exceed 21 years; proceeds to refund authority's series 2003A-B lease revenue bonds.

DOUGLAS COUNTY SCHOOL DISTRICT (GEORGIA): $116.91 million series 2013 general obligation refunding bonds (Aa2/AA+/); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2018 to 2027; proceeds to refund existing G.O. debt.

EASTERN MUNICIPAL WATER DISTRICT (CALIFORNIA): $54,575,000 series 2013A refunding water and sewer revenue bonds (Aa2/VMIG 1/A-1+/AA+/F1+); negotiated; Goldman, Sachs & Co. (lead); bonds due July 1, 2035; proceeds to purchase upon mandatory tender the district's series 2008B variable-rate certificates of participation.

FAIRFAX COUNTY (VIRGINIA): $101,455,000 series 2013B public improvement bonds (Aaa/AAA/AAA); negotiated; Morgan Stanley & Co. LLC (lead); bonds due 2014 to 2024; proceeds to finance school, transportation, public safety, parks and recreation and other improvement, as well as to refund the county's series 2004A-B, 2005A, 2007A and 2008A public improvement bonds.

FRANKLIN COUNTY (OHIO)/OHIOHEALTH CORP.: $210.29 million series 2013 hospital facilities revenue refunding bonds (Aa2/AA+/AA); negotiated; Barclays (lead); bonds due 2014 to 2033 with term bonds due 2038 and 2043; proceeds to construct, equip, acquire and renovate hospital facilities.

HAMPTON ROADS SANITATION DISTRICT (VIRGINIA): $215.22 million series 2013 wastewater revenue and refunding bonds (Aa2/AAA/AA+); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2013 and 2019 to 2033 with term bond due in 2038; proceeds to finance capital wastewater projects and refund existing revenue bonds.

HOUSTON INDEPENDENT SCHOOL DISTRICT (TEXAS): $150 million series 2013B limited tax variable-rate schoolhouse bonds (Aaa/AAA/); negotiated; Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (lead); Estrada Hinojosa & Co. Inc. and Loop Capital Markets LLC (co-managers); bonds due 2035 to 2037; proceeds to construct, equip and acquire school buildings within the district.

HOWARD HUGHES MEDICAL INSTITUTE (MARYLAND): $1.65 billion series 2013A taxable fixed-rate bonds (Aaa/AAA/); negotiated; J.P. Morgan Securities LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); bonds due March 1, 2023; proceeds to fund an account established by the institute to create a reserve for its program spending.

MEDFORD HOSPITAL FACILITIES AUTHORITY/ROGUE VALLEY MANOR: $60.2 million series 2013A revenue refunding bonds (/BBB+/A-); negotiated; Cain Brothers (lead); proceeds to current refund authority's series 2007 variable-rate demand revenue bonds.

METROPOLITAN TRANSPORTATION AUTHORITY (NEW YORK): $500 million series 2013B transportation revenue bonds; negotiated; Barclays and Rice Financial Products Co. (lead); BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Jefferies & Co., Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, BB&T Capital Markets, Duncan-Williams Inc., Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, First Southwest Co., Loop Capital Markets LLC, M.R. Beal & Co., Piper Jaffray & Co., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Roosevelt & Cross Inc., Stifel, Nicolaus & Co. Inc. and TD Securities (USA) LLC (co-managers); proceeds to finance transit and commuter projects.

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

MIAMI-DADE COUNTY EXPRESSWAY AUTHORITY (FLORIDA): $270.6 million series 2013A toll system refunding revenue bonds (A3/A-/A-); negotiated; BofA Merrill Lynch (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Raymond James/Morgan Keegan, Sterne, Agee & Leach Inc., Rice Financial Products Co. and Siebert Brandford Shank & Co. LLC (co-managers); proceeds will be used to current refund the authority's series 2001A and 2002 revenue bonds and advance refund its series 2004B revenue bonds.

MIAMI-DADE COUNTY SCHOOL BOARD (FLORIDA): $77.15 million series 2013 certificates of participation (A1/A/); negotiated; Morgan Stanley & Co. LLC (lead); Barclays, Loop Capital Markets LLC, Ramirez & Co. Inc. and Wells Fargo Securities LLC (co-managers); proceeds to refund existing COPs.

• $68,955,000 series 2013A COPs due 2031 to 2032

• $8,195,000 series 2013B COPs due 2029 to 2030

MIDLOTHIAN INDEPENDENT SCHOOL DISTRICT (TEXAS): $56,357,637.05 series 2013A tax-exempt refunding bonds; negotiated; First Southwest Co. (lead); Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); proceeds to refund the district's series 2005 and 2006 unlimited tax school building bonds.

• $56,025,000 current interest bonds

• $332,637.05 capital appreciation bonds

NORTHWEST INDEPENDENT SCHOOL DISTRICT (TEXAS): $54,474,961.90 series 2013 unlimited tax taxable refunding bonds; negotiated; RBC Capital Markets LLC (lead); Raymond James/Morgan Keegan and Southwest Securities Inc. (co-managers); proceeds to refund a portion of the district's series 2005 bonds.

• $274,961.90 capital appreciation bonds due 2013 and 2017 to 2018

• $54.2 million current interest bonds due 2014 to 2016 and 2019 to 2032

OHIO: $61.99 million series 2013 capital facilities lease appropriation refunding bonds (Aa2/AA/AA); negotiated; KeyBanc Capital Markets Inc. (lead); Estrada Hinojosa & Co. Inc., Ross, Sinclaire & Associates LLC and PNC Capital Markets LLC (co-managers); proceeds to refund the state's series 2004A and 2005A lease appropriation bonds.

• $50,815,000 series 2013A administrative building project bonds due 2013 to 2024

• $11,175,000 series 2013A parks and recreation fund bonds due 2013 to 2019

UNION COUNTY (NORTH CAROLINA): $139,995,000 series 2013 general obligation refunding bonds (Aa1/AA/AA+); negotiated; Baird & Co. (lead); George K. Baum & Co., US Bancorp Inc. and Wells Fargo Securities LLC (co-managers); proceeds to refund the county's series 2004A-B and 2007A-C variable-rate G.O. bonds and 2007D and 2009A-B G.O. public school refunding bonds.

• $62.62 million series 2013A bonds due 2014 to 2029

• $77,375,000 series 2013B bonds due 2014 to 2031

WESTCHESTER COUNTY LOCAL DEVELOPMENT CORP./KENDAL ON HUDSON PROJECT (NEW YORK): $70.29 million series 2013 revenue refunding bonds (//BBB); negotiated; BB&T Capital Markets (lead); proceeds to refund corporation's series 2003 and 2007 revenue bonds.

WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/ASPIRUS INC. OBLIGATED GROUP: $92.2 million series 2013 revenue bonds (A2/A/); negotiated; Barclays and Piper Jaffray & Co. (lead); bond due 2013 to 2028 with term bonds due 2033, 2038, 2043 and 2048; proceeds to provide loans to the Aspirus Wausau Hospital, Memorial Health Center Inc., Aspirus Grand View Hospital and Langlade Hospital, as well as to refund the authority's series 2000 revenue bonds and refinance a line of credit.


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