Municipal Calendar: California Public Works preps $423 million bond offering

Week of April 7

April 10

CALIFORNIA STATE PUBLIC WORKS BOARD: $423 million series 2014 lease revenue bonds (A2/A-/A-); negotiated; Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. (joint senior managers); Lebenthal & Co. LLC (co-senior manager); Alamo Capital, Barclays, BMO Capital Markets LLC, Cabrera Capital Markets LLC, Fidelity Capital Markets LLC, First Southwest Co., Great Pacific Securities Inc., J.P. Morgan Securities LLC, Mischler Financial Group, O'Connor & Co. Securities, RBC Capital Markets LLC, RH Investment Corp., SL Hare Capital Inc. and Wedbush Securities Inc. (co-managers); proceeds to finance the construction and improvement of the courthouse and the prison; pricing April 10.

• $265 million series 2014B Judicial Council of California bonds for New Stockton Courthouse

• $158 million series 2014C Department of Corrections and Rehabilitation bonds for North Kern State Prison

ILLINOIS: $250 million series of April 2014 general obligation bonds; competitive; Public Resources Advisory Group (financial adviser); bonds due 2015 to 2039; proceeds to finance transportation capital projects; pricing April 10.

Week of April 14

April 15

JORDAN SCHOOL DISTRICT (UTAH): $106.8 million series 2014 general obligation refunding bonds (Aaa//AAA); competitive; bonds due 2015 to 2022; proceeds to refund existing G.O. bonds; pricing April 15.

Week of April 21

April 22

CALIFORNIA: $750 million series 2014 various purpose general obligation bonds (A1/A/A); competitive; Public Resources Advisory Group LLC (financial adviser); proceeds to finance capital projects within the state and repay commercial paper; pricing April 22.

• $575 million series 2014 tax-exempt bonds due 2015 to 2032 with term bond due 2044

• $175 million series 2014 taxable bonds due May 1, 2019

On the Horizon

EL PASO (TEXAS): $100.38 million series 2014 general obligation improvement and refunding bonds (/AA/AA); negotiated; Barclays (lead); Raymond James/Morgan Keegan and RBC Capital Markets LLC (co-managers); bonds due 2015 to 2039; proceeds to finance improvements to the city's parks and recreation facilities, as well as to refund the city's series 2005 G.O. refunding bonds.

INLAND VALLEY DEVELOPMENT SUCCESSOR AGENCY (CALIFORNIA): $270 million series 2014 tax allocation refunding bonds (/A-/); negotiated; Barclays (lead); proceeds to repay outstanding loans and refund the agency's series 2011B-C bonds.

• Series 2014A tax-exempt bonds

• Series 2014B taxable bonds

LOUISIANA: $121.25 million series 2014A Libor index gasoline and fuels tax second lien revenue refunding bonds (Aa2/AA/AA-); negotiated; Raymond James/Morgan Keegan, Jefferies & Co. and RBC Capital Markets LLC (lead); bonds due May 1, 2043; proceeds to refund existing debt initially used to finance highway and bridge construction projects.

MASSACHUSETTS: $60 million consolidated loan of 2014 MassDirect notes (Aa1/AA+/AA+); negotiated; Citigroup Global Markets Inc. (lead); proceeds to finance capital projects.

• $30 million series 3 notes due May 1, 2017, May 1, 2019 and May 1, 2024

• $30 million series 4 notes due May 1, 2016, May 1, 2018 and May 1, 2023

MASSACHUSETTS BAY TRANSPORTATION AUTHORITY: $200 million series 2014A senior sales tax bonds (Aa2/AAA/); negotiated; Barclays (lead); Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Ramirez & Co. Inc., Fidelity Capital Markets Inc., Loop Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-managers); bonds due 2016 to 2035 with term bonds due in 2039 and 2044; proceeds to finance capital expenditures.

METROPOLITAN TRANSPORTATION AUTHORITY (NEW YORK): $500 million series 2014B transportation revenue bonds; negotiated; Wells Fargo Securities LLC and CastleOak Securities LP (lead); BofA Merrill Lynch; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; Loop Capital Markets LLC; Ramirez & Co. Inc.; RBC Capital Markets LLC; Siebert Brandford Shank & Co. LLC; Barclays; BNY Mellon Capital Markets; Cabrera Capital Markets LLC; Duncan-Williams Inc.; Estrada Hinojosa & Co. Inc.; Fidelity Capital Markets Inc.; Janney Montgomery Scott LLC; M&T Securities Inc.; Mesirow Financial Inc.; Oppenheimer & Co. Inc.; Piper Jaffray & Co.; PNC Capital Markets LLC; Raymond James/Morgan Keegan; Rice Financial Products Co.; Roosevelt & Cross Inc.; Stern Brothers & Co.; Stifel, Nicolaus & Co. Inc.; TD Securities (USA) Inc.; U.S. Bancorp Investment Inc.; and The William Capital Group LP (co-managers); proceeds to finance commuter projects.

MINNESOTA HOUSING FINANCE AGENCY: $50 million series 2014B residential housing finance program bonds; negotiated; RBC Capital Markets LLC (lead); Piper Jaffray & Co., Wells Fargo Securities LLC and BofA Merrill Lynch (co-managers); bonds due 2015 to 2024 with term bonds due 2027 and 2039; proceeds to finance loans for affordable rental housing units in the state.

ONONDAGA CIVIC DEVELOPMENT CORP./ST. JOSEPH HOSPITAL HEALTH CENTER (NEW YORK): $69.67 million series 2014A tax-exempt revenue bonds (Ba2/BB/); negotiated; Jefferies & Co. and M&T Securities Inc. (lead); proceeds to finance the construction of a co-generation plant on the hospital's campus, as well as to install other technology and other improvements.

PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY/SINAI RESIDENCES OF BOCA RATON (FLORIDA): $189,885,000 series 2014 revenue bonds; negotiated; H.J. Sims & Co. (lead); proceeds to fund a loan to Sinai Residences of Boca Raton for capital improvements to the corporation's facilities, as well as to refund existing notes.

• $120,885,000 series 2014A bonds due 2024, 2034 and 2049

• $14 million series 2014B entrance fee principal redemption bonds due 2023

• $55 million series 2014C entrance fee principal redemption bonds due 2021

POLLUTION CONTROL FINANCING AUTHORITY OF GLOUCESTER COUNTY (NEW JERSEY): $66,795,000 series 2014 pollution control revenue refunding bonds; negotiated; Morgan Stanley & Co. LLC (lead); proceeds to refund authority's series 1992 revenue bonds.

• $63.81 million series 2014A AMT revenue refunding bonds

• $2,985,000 series 2014B taxable pollution revenue bonds due Dec. 1, 2019

POLLUTION CONTROL FINANCING AUTHORITY OF SALEM COUNTY (NEW JERSEY): $118,865,000 series 2014 pollution control revenue refunding bonds; negotiated; Morgan Stanley & Co. LLC (lead); proceeds to refund the authority's series 1991 New Jersey Economic Development Authority revenue bonds.

• $113.64 million series 2014A AMT revenue refunding bonds

• $5,225,000 series 2014B taxable pollution control revenue bonds due Dec. 1, 2019

PUBLIC FINANCE AUTHORITY/USA PLACE PARKING FACILITIES LLC (ARIZONA): $103.5 million series 2014 taxable parking revenue bonds; negotiated; KeyBanc Capital Markets LLC (lead); bonds due Feb. 1, 2021; proceeds to construct, equip, acquire and renovate a multilevel parking facility for the USA Place multi-use center anchored by a hotel and conference center in Tempe.

SCOTTSDALE (ARIZONA): $97.15 million series 2014 general obligation bonds (Aaa/AAA/AAA); negotiated; Morgan Stanley & Co. LLC and Wells Fargo Securities LLC (lead); J.P. Morgan Securities LLC and Wedbush Securities (co-managers); proceeds to acquire and improve land for the McDowell Sonoran Preserve, as well as to refund existing G.O. debt.

• $14 million project of 2004 series 2014 general obligation bonds due 2015 to 2034

• $83.15 million series 2014 general obligation refunding bonds due 2015 to 2023

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