Municipals Calendar: Puerto Rico to sell $250 million G.O.s

WEEK OF SEPTEMBER 1

NEW YORK CITY HEALTH AND HOSPITALS CORP.: $191.76 million series 2008B through 2008E health system bonds (/A+/A); negotiated; Morgan Stanley and Citigroup Global Markets (lead); proceeds to refund series 2002B through 200H auction- and variable-rate demand bonds and provide $100 million in funds for equipment; pricing week of Sept. 1.

COMMONWEALTH OF PUERTO RICO: $250 million general obligation bonds; negotiated; Banc of America Securities, Morgan Stanley and UBS Financial Services Puerto Rico (lead); BBVAPR, Citigroup Global Markets, Depfa First Albany, Eurobank, Goldman, Sachs & Co., JPMorgan, Lehman Brothers, Loop Capital Markets, Merrill Lynch, Oppenheimer & Co., Popular Securities, RBC Capital Markets, Samuel A. Ramirez & Co., Santander Securities, Scotia Capital and Wachovia Capital Markets (co-managers); proceeds for public improvements; pricing week of Sept. 1.

SEPTEMBER 2

COMMONWEALTH OF MASSACHUSETTS: $661.89 million series 2008A general obligation bonds (Aa2/AA/AA); negotiated; Citigroup Global Markets (lead); Fidelity Capital Markets, Goldman, Sachs & Co., JPMorgan, Lehman Brothers, Banc of America Securities, Cabrera Capital Markets, Corby Capital Markets, Depfa First Albany, Eastern Bank Capital Markets, Finacorp Securities, Loop Capital Markets, M.R. Beal & Co., Melvin & Co., Morgan Keegan & Co., RBC Capital Markets, Ramirez & Co., Raymond James & Assoc., Southwest Securities, Sovereign Securities Corp. and Wachovia Bank (co-managers); bonds due 2009 to 2028 with term bonds due 2033 and 2038; proceeds to reimburse or fund costs within current capital spending plan and refund series 2007D-1 and 2007D-2 auction-rate bonds; pricing Sept. 2.

SEPTEMBER 3

FRANKLIN W. OLIN COLLEGE OF ENGINEERING/MASSACHUSETTS DEVELOPMENT FINANCE AGENCY: $93.8 million revenue bonds (A1//); negotiated; Lehman Brothers; proceeds to refund the series A1 and A2 auction-rate securities; pricing Sept. 3.

• $10 million series 2008C1

• $41.9 million series 2008C2

• $41.9 million series 2008C3

NEW JERSEY: $1.8 billion series 2009A tax and revenue anticipation notes; competitive; notes due June 25, 2009; proceeds to fund general expenses for state until taxes or other revenues are collected; pricing Sept. 3.

SEPTEMBER 4

EUGENE SCHOOL DISTRICT 4J (OREGON): $50.25 million series 2008 general obligation bonds; negotiated; Piper Jaffray (lead); due July 1, 2017; proceeds to refund the district's series 1999 and 2002 education bonds; pricing Sept. 4.

FLORIDA MUNICIPAL POWER AGENCY: $562.51 million series 2008 all-requirements power supply project revenue bonds (//A+); negotiated; Merrill Lynch (lead); JPMorgan, Morgan Stanley, Goldman, Sachs & Co., Banc of America Securities, SunTrust Robinson Humphrey; proceeds for construction of Cane Island No. 4 generation project and refunding auction-rate securities; pricing Sept. 4.

• $492.06 million series 2008A

• $70.45 million series 2008B

JACKSONVILLE, FLA.: $108.925 million series 2008 Better Jacksonville sales tax revenue bonds (Aa3/AA-/AA); competitive; Public Financial Management (financial adviser); bonds due 2009 to 2030; proceeds to reimburse city for costs associated with Better Jacksonville capital improvements projects; pricing Sept. 4.

SEPTEMBER 5

SCHOOL BOARD OF ORANGE COUNTY (FLORIDA): $51 million series 2008E certificates of participation (A1/A+/); negotiated; Citigroup Global Markets (lead); Wachovia Bank, Morgan Stanley, Jackson Securities, RBC Capital Markets, Raymond James, Siebert Brandford Shank & Co., Merrill Lynch (co-managers); proceeds refund series 2007C COPs; pricing Sept. 5.

SEPTEMBER 8

CARPENTERSVILLE COMMUNITY UNIT SCHOOL DISTRICT NO. 300 (ILLINOIS): $65.735 million series 2008 general obligation bonds (A3/AA/); competitive; William Blair & Co. (financial adviser); bonds due 2023 to 2028; proceeds for school building construction, acquisition and equipment, land acquisition and the refunding of outstanding obligations; pricing Sept. 8.

SEPTEMBER 10

LOS ANGELES COUNTY MUSEUM OF ART: $385 million series 2008 refunding revenue bonds (A2); negotiated; Citigroup Global Markets (lead); Stone & Youngberg (co-manager); variable-rate bonds reset weekly; proceeds to refund series 2004A, 2004B, 2004C, 2007A, 2007B, 2007C and 2007D bonds; pricing Sept. 10.

NEW YORK CITY: $790 million series 2009B general obligation bonds; negotiated; Citigroup Global Markets (lead); JPMorgan, Merrill Lynch, Morgan Stanley, Banc of America, M.R. Beal & Co., Depfa First Albany, Goldman, Sachs & Co., Lehman Brothers, Loop Capital Markets, Prager, Sealy & Co., Ramirez & Co., RBC Capital Markets, Cabrera Capital Markets, Commerce Capital Markets, Wachovia Bank, Jackson Securities, Janney Montgomery Scott, Raymond James & Associates, Roosevelt & Cross and Southwest Securities (co-managers); bonds due 2010 to 2027; proceeds for general capital expenses; pricing Sept. 10.

• $700 million series 2009B-1 tax-exempt bonds

• $90 million series 2009B-2 taxable bonds

SEPTEMBER 11

SARASOTA COUNTY (FLORIDA): $72.65 million series 2008A infrastructure sales surtax revenue bonds (Aa3//); proceeds will be used to fund capital improvement infrastructure projects; pricing Sept. 11.

SEPTEMBER 15

MADISON METROPOLITAN SCHOOL DISTRICT (WISCONSIN): $64 million tax and revenue anticipation promissory notes; competitive; Hutchinson Shockey Erley & Co. (financial adviser); notes due Sept. 4, 2009; proceeds for operation of school district throughout 2008-2009 school year; pricing Sept. 15.

SEPTEMBER 23

NEW YORK CITY TRANSITIONAL FINANCE AGENCY: $700 million fixed-rate building aid revenue bonds; negotiated; pricing Sept. 23.

SEPTEMBER

COMMONWEALTH OF VIRGINIA/VIRGINIA PUBLIC BUILDING AUTHORITY: $320 million public facilities revenue bonds (Aa1//); proceeds to finance public building projects, including local and regional jail facilities; pricing in September.

• $260 million series 2008B

• $60 million series 2008C

LOS ANGELES COMMUNITY COLLEGE DISTRICT (CALIFORNIA): $621.415 million general obligation bonds (Aa2/AA/); negotiated; Citigroup Global Markets and Goldman, Sachs & Co. (lead); Backstrom McCarley Berry & Co., Banc of America Securities, De La Rosa & Co., Morgan Stanley, Ramirez & Co. and Siebert Brandford Shank & Co. (co-managers); proceeds for construction, equipment, acquisition and furnishing of district facilities; pricing in September.

• $276.5 million series 2008E-1

• $344.915 million series 2008F-1

MISSISSIPPI: $230.145 million series 2008 general obligation bonds (Aa3/AA/AA); competitive; proceeds for water conservation, fire truck acquisitions, water pollution control, shipyard improvements, railroad improvements, a children's museum, a wireless communications system in the state and other initiatives.

• $133.545 million series 2008A

• $96.6 million series 2008B

NEW YORK STATE HOUSING FINANCE AGENCY: $170 million variable-rate bonds; proceeds for the 320 West 38th Street project; pricing in September.

PUERTO RICO MUNICIPAL FINANCING AGENCY: $400 million bonds; pricing in September.

OCTOBER

COMMONWEALTH OF PUERTO RICO: $1 billion tax and revenue anticipation notes, pricing in October.

ON THE HORIZON

ALASKA HOUSING FINANCE CORP.: $80.88 million series 2008B home mortgage revenue bonds; negotiated; Goldman, Sachs & Co. (lead); serial maturities from 2009 through 2018 and terms due 2023, 2028, 2033 and 2038; proceeds to purchase first-time buyer home mortgage loans.

CHILDREN'S TRUST (COMMONWEALTH OF PUERTO RICO): $205.29 million tobacco settlement asset-backed bonds; negotiated; Citigroup Global Markets (lead); maturity of May 15, 2058; proceeds to pay for government operating expenses and to fund grants.

• $157.912 million series 2008A

• $47.378 million series 2008B

COLORADO HEALTH FACILITIES AUTHORITY: $140.245 million series 2008 retirement community revenue bonds; negotiated; Ziegler Capital Markets (lead); bonds due 2018 and 2043; proceeds for construction on Eagle's Trace retirement community and deposit to debt service reserve fund.

DOCTORS COMMUNITY HOSPITAL/MARYLAND HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY: $59.17 million series 2008 hospital revenue bonds (Baa2); negotiated; UBS Securities; proceeds finance a planned new private bed, six-story patient tower and other capital expenses.

FAIRFIELD, CONN.: $51.115 million 2008 refunding bonds; negotiated; William Blair (lead); serial structure from 2010 to 2023; proceeds refund city's 2003A and 2003B bonds.

FLORIDA DEPARTMENT OF ENVIRONMENTAL PROTECTION: $168 million series 2008B Florida Forever revenue bonds (A1//); competitive; 18-hour notice.

FLORIDA HOUSING FINANCE CORP.: $100 million series 2008-3 homeowner mortgage revenue bonds; negotiated; Citigroup Global Markets (lead); JPMorgan and RBC Capital Markets (co-managers); bonds due 2010 to 2018 with term bonds due 2023, 2028, 2033, 2039 and 2039; proceeds for purchase of mortgage loans.

HARRIS COUNTY, TEXAS: $77.16 million series 2008A toll road unlimited tax and subordinate-lien revenue refunding bonds; negotiated; Piper Jaffray (lead); Citigroup Global Markets, Depfa First Albany, Loop Capital Markets, Goldman, Sachs & Co., JPMorgan, Siebert Brandford Shank & Co. (co-managers); proceeds to refund outstanding series 2003 toll road unlimited tax and subordinate-lien revenue bonds and purchase one or more bond insurance policies.

HEALTH AND EDUCATIONAL FACILITIES AUTHORITY OF THE STATE OF MISSOURI: $158.9 million series 2008A health facilities revenue bonds (A2//A); negotiated; Merrill Lynch and Oppenheimer & Co. (lead); proceeds to pay or reimburse costs incurred by CoxHealth, refund series 1997 and 2002 bonds, and make deposit to debt service reserve fund.

HOUSTON COMMUNITY COLLEGE SYSTEM (TEXAS): $56.355 million series 2008 senior-lien student fee revenue bonds; negotiated; Siebert Brandford Shank & Co. (lead); maturities from 2009 through 2030; proceeds to acquire facilities currently leased by the system, pay for the construction and renovation of the Southeast Workforce Building, renovate other college facilities and provide funds sufficient to capitalize on one year's interest payment.

HOUSTON INDEPENDENT SCHOOL DISTRICT (TEXAS): $385.4 million series 2008 limited tax schoolhouse bonds; negotiated; Merrill Lynch & Co. (lead); serial maturities from 2012 through 2033; proceeds to construct, equip and acquire school buildings and sites.

ILLINOIS FINANCE AUTHORITY: $380 million series 2008 revenue bonds (/A-/AA-); negotiated; Goldman, Sachs & Co. and Morgan Stanley (lead); Loop Capital Markets and Cabrera Capital Markets; series 2008A bonds due 2033 and 2047; series 2008B bonds due 2015 to 2023 with term bonds due 2028 and 2039; proceeds to construct a new children's hospital, refund existing bonds and make deposit to a debt service reserve fund.

• $210 million series 2008A

• $170 million series 2008B

INDUSTRIAL DEVELOPMENT BOARD OF MOBILE (ALABAMA): $246.5 million pollution control revenue bonds (A2/A); remarketing; Morgan Keegan & Co. (lead); mature June 1, 2034; pricing mid-March.

• $86.5 million series 2007-A bonds

• $80 million series 2007-B bonds

• $80 million series 2007-C bonds

IRVINE UNIFIED SCHOOL DISTRICT (CALIFORNIA): $81.08 million series 2008 special tax bonds (A3/A/); negotiated; Banc of America Securities and Piper Jaffray (lead); bonds due 2009 to 2020; proceeds to refund outstanding obligations and make deposit to debt service reserve fund.

KENMORE MUNICIPAL HOUSING AUTHORITY: $74.2 million series 2008A student housing revenue bonds (//BBB+); negotiated; RBC Capital Markets; bonds due July 1, 2039; proceeds for renovation and conversion of multifamily housing project into student housing for colleges and universities in Buffalo, N.Y.

KENTUCKY HOUSING CORP.: $60 million series 2008 housing revenue bonds; negotiated; Merrill Lynch and Citigroup Global markets (lead); J.J.B. Hilliard, W.L. Lyons, NatCity Investments, Morgan Keegan, Wachovia Bank, JPMorgan, Edward D. Jones, First Kentucky Securities and Ross, Sinclaire & Associates (co-managers); series 2008E bonds due 2010 to 2018 with term bonds due 2023, 2028, 2033 and 2038; series 2008F bonds due 2037; proceeds to purchase mortgage loans and make deposit to debt service reserve fund.

• $50 million series 2008E non-AMT bonds

• $10 million series 2008F AMT bonds

LA JOYA INDEPENDENT SCHOOL DISTRICT (TEXAS): $94 million series 2008 unlimited tax school building bonds (Aaa/AAA/); negotiated; RBC Capital Markets (lead); JPMorgan, Estrada Hinojosa & Co., First Public, Piper Jaffray, Morgan Keegan and Southwest Securities (co-managers); bonds due 2009 to 2038; proceeds for construction and equipment of school buildings and the purchase of sites for construction.

MARION COUNTY CONVENTION AND RECREATIONAL FACILITIES AUTHORITY (INDIANA): $155.965 million series 2008 adjustable rate excise taxes lease rental revenue refunding subordinate bonds (Aaa/AAA/); negotiated; RBC Capital Markets (lead); due June 1, 2027; proceeds to refund a portion of the series 1997A revenue subordinate bonds that mature June 1, 2022 and June 1, 2027.

MASSACHUSETTS EDUCATIONAL FINANCING AUTHORITY: $400 million series 2008H education loan revenue bonds; negotiated; Morgan Stanley (lead); term bonds due 2023 and 2032; proceeds to finance loans and to refund the series 2001E, 2002E, 2003E, 2004E, 2005E and 2006E education loan revenue bonds.

MASSACHUSETTS HOUSING FINANCE AGENCY: $187.91 million single-family housing revenue bonds (Aa2/AA/); negotiated; Morgan Stanley (lead); Banc of America Securities, Citigroup Global Markets, Lehman Brothers, Cabrera Capital Markets, Depfa First Albany Securities, Fidelity Capital Markets, George K. Baum & Co., Goldman, Sachs & Co., JPMorgan, Merrill Lynch, Piper Jaffray, Raymond James, Rice Financial Products, Siebert Brandford Shank & Co. and Wachovia Bank (co-managers); series 136 due 2010 with term bond due 2023, series 137 due 2009 to 2012, series 138 due 2028, 2033 and 2039, and series 139 due 2013 to 2018 with term bonds due 2023, 2028, 2033 and 2037; proceeds to buy mortgage loans and refund prior obligations.

MESA UNIFIED SCHOOL DISTRICT NO. 4 (MARICOPA COUNTY, ARIZ.): $50 million school improvement bonds (Aa3/AA-/); negotiated; RBC Capital Markets (lead); series 2008C bonds due 2009 and 2013 through 2017; proceeds for school improvements and bus purchases.

METHODIST HOSPITAL (TEXAS): $350 million debt securities; negotiated; J.P. Morgan Securities (lead).

MICROGY HOLDINGS/CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY: $85 million series 2008 environmental facilities revenue bonds; negotiated; Ziegler Capital Markets; due Dec. 1, 2038; proceeds to construct and equip the company's California solid waste disposal facilities, which will create renewable natural gas from cow manure.

MISSION CONSOLIDATED INDEPENDENT SCHOOL DISTRICT (TEXAS): $59 million series 2008 unlimited tax school building bonds (Aaa/AAA/); negotiated; Southwest Securities (lead); RBC Capital Markets, Estrada Hinojosa & Co., Piper Jaffray, First Public and Morgan Keegan (co-managers); bonds due 2009 to 2038; proceeds for construction and equipment of school facilities and acquisition of land.

MOHEGAN TRIBE OF INDIANS OF CONNECTICUT: $51.46 million series 2008 gaming authority priority distribution payment public improvement bonds; negotiated; Citigroup Global Markets (lead); Banc of America Securities, Calyon, Wells Fargo Brokerage Services (co-managers); bonds due Jan. 1, 2038; proceeds for construction of community and government center for tribal government departments and for debt service reserve fund.

NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY: $63 million debt securities; negotiated; Siebert Brandford Shank (lead).

NEW JERSEY TURNPIKE AUTHORITY: $325 million series 2008 subordinated turnpike revenue notes (MIG1); competitive; proceeds replace $175 million in XL-insured series 2003D auction-rate bonds.

NORTH TEXAS TOLLWAY AUTHORITY: $609,037,451 series 2008 system revenue refunding bonds; negotiated; Citigroup Global Markets and Lehman Brothers (lead); Estrada Hinojosa, First Southwest, Morgan Keegan, M.R. Beal & Co., Southwest Securities and Wachovia Bank (co-managers); 2008H bonds due 2043, 2008I bonds due 2042 and 2043, and 2008J bonds due 2039 through 2042; proceeds for construction of State Highway 121 project.

• $359.04 million series 2008H first-tier put bonds

• $199,997,758 series 2008I first-tier convertible capital appreciation bonds

• $49,999,692 series 2008J first-tier capital appreciation bonds

OMAHA PUBLIC POWER DISTRICT (NEBRASKA): $105 million in series 2008A electric system revenue bonds; negotiated; Wachovia Bank, N.A. (lead); proceeds to reimburse costs for capital expenditures.

OREGON DEPARTMENT OF ADMINISTRATIVE SERVICES: $60.155 million state lottery revenue bonds; negotiated; Citigroup Global Markets (lead); proceeds to make grants for and pay a portion of the costs of the projects, including the creation through construction and acquisition of 150 units for housing for the homeless; the cost to build digital transmission facilities for Oregon Public Broadcasting; a study and engineering work to widen and deepen the shipping channel at the Port of Coos Bay and deferred building maintenance on seven Oregon University campuses.

• $46.12 million series 2008A

• $14.035 million series 2008B

PORT OF SEATTLE: $379.716 million customer facility charge revenue bonds (A2/A-/); negotiated; Lehman Brothers; proceeds to pay a portion of the development costs for a consolidated rental car facility and a bus maintenance facility and to make a deposit to the RCF Account.

• $19.415 million series 2008A current interest bonds due Dec. 1, 2023

• $286.775 million series 2008B-1 current interest taxable bonds due 2011 to 2021 and a term due 2027

• $73.526 million series 2008B-2 taxable capital appreciation bonds due 2027 to 2040

RICHARD STOCKTON COLLEGE OF NEW JERSEY/NEW JERSEY EDUCATIONAL FACILITIES AUTHORITY: $135.68 million series 2008A revenue bonds; negotiated; Morgan Stanley (lead); serial maturities from 2011 through 2018 and terms due 2028, 2033 and 2038; proceeds to finance construction and equipment for campus facilities and refund all outstanding series 2005C revenue bonds.

ROSS COUNTY/ADENA HEALTH SYSTEM (OHIO): $138.35 million series 2008 revenue refunding bonds (/A/); negotiated; Cain Brothers; serial maturities from 2009 through 2018 and terms due 2028 and 2038; proceeds to fund a termination payment for qualified hedges and refund the series 2001 refunding and improvement bonds and series 2006 revenue refunding and improvement bonds.

SAN FRANCISCO CITY AND COUNTY AIRPORT COMMISSION: $169.5 million 34A-C senior-lien variable-rate revenue refunding bond, $255 million 34D-E senior-lien fixed-rate revenue refunding bonds, $110 million 34F-G senior-lien variable-rate revenue refunding bonds (A); timing not set.

SAN MATEO COUNTY JOINT POWERS FINANCING AUTHORITY (CALIFORNIA): $148.285 million series 2008A refunding lease revenue bonds (Aa3/AA/); negotiated; Citigroup Global Markets and Lehman Brothers (lead); bonds due 2009 to 2028 with term bonds due 2033 and 2036; proceeds to refund authority's series 2003A, 2003B and 2033C bonds.

SOUTH CAROLINA PUBLIC SERVICE AUTHORITY (SANTEE COOPER): $93.155 million revenue obligation bonds; negotiated; Goldman, Sachs & Co. (lead), Citigroup Global Markets; Bear, Stearns & Co.; Merrill Lynch & Co.; and Morgan Stanley (co-managers); proceeds will be used to refund series 1997 A refunding bonds.

TENNESSEE HOUSING DEVELOPMENT AGENCY: $50 million series 2008A homeownership program bonds; negotiated; Merrill Lynch and Morgan Keegan (lead); 2008A2 bonds due 2010 to 2018 with term bonds due 2022 and 2027; 2008B2 bonds due 2013 and 2027; proceeds for agency's loan fund and deposit to a debt service reserve fund.

• $44.325 million series 2008A2

• $5.675 million series 2008B2

VENTURA COUNTY (CALIFORNIA): $155 million series 2008/2009 tax and revenue anticipation notes; negotiated; Merrill Lynch & Co.; due July 1, 2009; proceeds for fiscal year 2008/2009 expenses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.