Municipal Calendar: Port Authority to sell $300 million of bonds

Week of June 11

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; pricing week of June 11.

CITIZENS PROPERTY INSURANCE CORP. (FLORIDA): $1.25 billion series 2012A personal lines account/commercial lines account senior secured bonds; negotiated; J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch; Citigroup Global Markets Inc.; Goldman, Sachs & Co.; Morgan Stanley & Co. LLC; Jefferies & Co.; Loop Capital Markets LLC; Ramirez & Co. Inc.; and RBC Capital Markets LLC (co-managers); proceeds to meet the corporation's claim-paying needs for its personal and commercial lines; pricing week of June 11.

CONNECTICUT: $518 million series 2012C general obligation refunding bonds; negotiated; Wells Fargo Securities LLC and Rice Financial Products Co. (lead); Citigroup Global Markets Inc., Ramirez & Co. Inc., TD Securities (USA) LLC, Bank of America Merrill Lynch, Cabrera Capital Markets LLC, Corby Capital Markets Inc., Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, Jackson Securities Inc., Janney Montgomery Scott LLC, Jefferies & Co., KeyBanc Capital Markets LLC, Loop Capital Markets LLC, M.R. Beal & Co. Inc., Prager & Co. LLC, RBC Capital Markets LLC, Robert W. Baird & Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Sterne, Agee & Leach Inc., Stifel, Nicolaus & Co. Inc. and William Blair & Co. Inc. (co-managers); bonds due 2013 to 2025; proceeds to refund the state's outstanding series 2001A, 2002B-D, 2002F, 2003A, 2003C, 2003E-F, 2004A and 2004C-D G.O. bonds; pricing week of June 11.

DETROIT (MICHIGAN)/DETROIT WATER AND SEWERAGE DEPARTMENT: $575 million series 2012A sewage disposal system revenue and refunding senior lien bonds (/A+/A-); negotiated; Goldman, Sachs & Co. (lead); BMO Capital Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Siebert Brandford Shank & Co. LLC (co-managers); bonds due 2014 to 2027 with term bonds due 2032 and 2039; proceeds to make improvements, additions and extensions to the city's sewage system, as well as to refund its 2003A revenue bonds; pricing week of June 11.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $3.7 billion state personal income tax revenue bonds; negotiated or competitive; Goldman, Sachs & Co. (lead for refunding bonds); proceeds to finance capital projects at the State University of New York, The City University of New York and SUNY Upstate Community College facilities and refund certain maturities of the series 2000A-B Metropolitan Transportation Authority state service contract bonds and certain maturities of various personal income tax revenue bonds issued by Dasny and the Empire State Development Corp.; pricing week of June 11.

• Up to $2 billion of refunding bonds

• Up to $1.7 billion of general purpose bonds

MICHIGAN FINANCE AUTHORITY: $2,968,595,000 series 2012 unemployment obligation assessment revenue bonds; negotiated; Citigroup Global Markets Inc. (lead for 2012A-B bonds, sole for 2012C); Bank of America Merrill Lynch (co-lead for 2012A-B); Barclays Capital Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Wells Fargo Securities LLC, BMO Capital Markets LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC, Siebert Brandford Shank & Co. LLC, Fifth Third Securities Inc., The Huntington Investment Co., PNC Capital Markets LLC and Ramirez & Co. (co-managers for 2012A-B); proceeds to refund existing debt and make a deposit into the authority's liquidity reserve fund; pricing week of June 11.

• $1,469,645,000 series 2012A revenue bonds due 2013 to 2019

• $1,248,950,000 series 2012B revenue bonds due 2020 to 2024

• $250 million series 2012C variable-rate demand bonds due July 1, 2024

MONROE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (NEW YORK)/ROCHESTER SCHOOLS PROJECT: $123.85 million series 2012 school facilities revenue bonds (Aa3/AA-/AA-); negotiated; Citigroup Global Markets Inc. (lead); M.R. Beal & Co., Lebenthal & Co. and Ramirez & Co. Inc. (co-managers); proceeds to finance renovations to existing Rochester, N.Y., schools and to construct new school facilities; pricing week of June 11.

• $65.94 million series 2012A tax-exempt bonds due 2014 to 2022

• $57.91 million series 2012B taxable qualified school construction bonds

NEW JERSEY INSTITUTE OF TECHNOLOGY: $55.96 million series 2012B taxable general obligation refunding bonds (A1/A+/); negotiated; Morgan Stanley & Co. LLC and Prager & Co. LLC (lead); bonds due 2013 to 2024; proceeds to refund the institute's series 2004B G.O. bonds; pricing week of June 11.

NORTH CAROLINA MEDICAL COMMISSION/DUKE UNIVERSITY HEALTH SYSTEM: $300 million series 2012A health care facilities revenue bonds (Aa2/AA/AA); negotiated; J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch, SunTrust Robinson Humphrey and TD Securities (USA) LLC (co-managers); bonds due 2013 to 2027 with term bonds due in 2032, 2037 and 2042; proceeds to construct a major tertiary addition to the Duke University Hospital, including four 24-bed intensive care units, road improvements and renovations to existing facilities; pricing week of June 11.

RICHMOND (VIRGINIA): $249,705,000 series 2012 general obligation public improvement bonds (/AA/AA+); Citigroup Global Markets Inc. and BB&T Capital Markets (lead for tax-exempt bonds); Wells Fargo Securities LLC (lead for taxable bonds); Bank of America Merrill Lynch, Jackson Securities Inc. and M.R. Beal & Co. Inc. (co-managers for tax-exempt bonds); Morgan Stanley & Co. LLC, Raymond James/Morgan Keegan and Siebert Brandford Shank & Co. LLC (co-managers for taxable bonds); proceeds to refund commercial paper bond anticipation notes, refund the city's series 2003, 2004A and 2006 G.O. public improvement bonds and construct, equip and acquire a new Martin Luther King Jr. Middle School; pricing week of June 11.

• $94,075,000 series 2012A public improvement bonds due 2013 to 2032

• $47,955,000 series 2012B refunding bonds due 2013 to 2024

• $100,175,000 series 2012C taxable refunding bonds due 2013 to 2023

• $7.5 million series 2012D taxable qualified school construction bonds due Jan. 15, 2033

SOCORRO INDEPENDENT SCHOOL DISTRICT (TEXAS): $147 million series 2012 unlimited tax school building bonds; negotiated; Raymond James/Morgan Keegan & Co. (lead); Southwest Securities Inc., Siebert Brandford Shank & Co. LLC., Piper Jaffray & Co., BOSC Inc. and Jefferies & Co. (co-managers); bonds due 2020 to 2037; proceeds to construct, equip and acquire school facilities within the district; pricing week of June 11.

June 13

HOUSTON (TEXAS): $180 million series 2012 tax and revenue anticipation notes (/SP-1+/F1+); competitive; First Southwest Co. and TKG & Associates LLC (financial advisers); notes due June 28, 2013; proceeds to finance general city capital needs ahead of the collection of certain taxes and revenues; pricing June 13.

ONONDAGA COUNTY (NEW YORK): $51,425,000 series 2012 general obligation bonds (Aa1/AA+/AAA); competitive; Fiscal Advisors & Marketing Inc. (financial adviser); bonds due 2014 to 2037; proceeds to finance road improvements, bridge reconstructions, county buildings reconstructions, land purchases, technology acquisitions and other county capital improvements; pricing June 13.

PORT AUTHORITY OF NEW YORK AND NEW JERSEY: $300 million series 173 consolidated bonds; competitive; bonds due 2018 to 2032; proceeds to finance capital projects for the authority, as well as to refund existing debt; pricing June 13.

June 14

OLYMPIA SCHOOL DISTRICT NO. 111 (WASHINGTON): $72.28 million series 2012B unlimited tax general obligation bonds (Aa2/A+/); competitive; D.A. Davidson & Co. LLC (financial adviser); bonds due 2013 to 2016 and 2024 to 2031; proceeds to construct and equip a new middle school, modernize and renovate an elementary school and make other capital improvements to school facilities in the district; pricing June 14.

SAN DIEGO (CALIFORNIA): $103 million series 2012-13 tax and revenue anticipation notes (MIG 1/SP-1+/); competitive; Public Resources Advisory Group (financial adviser); notes due June 28, 2013; proceeds to finance general capital expenditures for the city ahead of the collection of certain taxes and revenues; pricing June 14.

Week of June 18

MASSACHUSETTS SCHOOL BUILDING AUTHORITY: $750 million series 2012A dedicated sales tax refunding bonds; negotiated; Citigroup Global Markets Inc., Jefferies & Co. and J.P. Morgan Securities LLC (lead); Barclays Capital Inc., Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., Corby Capital Markets Inc., Edward D. Jones & Co. LP, Fidelity Capital Markets LLC, Janney Montgomery Scott LLC, Loop Capital Markets LLC, M.R. Beal & Co. Inc., Piper Jaffray & Co., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, Stern Brothers & Co., Stifel, Nicolaus & Co. Inc. and Wells Fargo Securities LLC (co-managers); bonds due 2021 to 2027 and 2030; proceeds to refund the authority's series 2005A dedicated sales tax bonds; pricing week of June 18.

June 19

CHARLES COUNTY (MARYLAND): $76.18 million series 2012 general obligation public improvement and refunding bonds; competitive; Davenport & Co. LLC (financial adviser); proceeds to finance improvements to certain public buildings, facilities and grounds in the county and refund existing G.O. bonds; pricing June 19.

• $72.18 million series 2012 tax-exempt consolidated public improvement and refunding bonds due 2013 to 2032

• $4 million series 2012 taxable public improvement bonds due 2013 to 2027

On the Horizon

AKRON (OHIO): $163.02 million series 2012 community learning centers income tax revenue refunding bonds (/AA+/); negotiated; Baird & Co. and Stifel, Nicolaus & Co. (lead); proceeds to refund the city's series 2004 revenue bonds and its series 2010A-C Build America Bonds.

• $156,425,000 series 2012A bonds due 2015 to 2033

• $6,595,000 series 2012B bonds due 2014 to 2015

BERKS COUNTY MUNICIPAL AUTHORITY/READING HOSPITAL AND MEDICAL CENTER (PENNSYLVANIA): $252.86 million series 2012 revenue bonds (Aa3/AA/AA-); negotiated; Bank of America Merrill Lynch, Morgan Stanley & Co. LLC and RBC Capital Markets LLC (lead for 2012A); Morgan Stanley & Co. LLC and RBC Capital Markets LLC (lead for 2012B); proceeds to construct, equip, acquire and install new and existing buildings operated by Reading Hospital and Medical Center, including emergency care facilities, oncology buildings and cardiology services, as well as to refund the medical center's series 2002 revenue bonds.

• $162,095,000 series 2012A fixed-rate bonds due Nov. 1, 2041, and Nov. 1, 2044

• $90,765,000 series 2012B variable-rate bonds due Nov. 1, 2039

COOK COUNTY FOREST PRESERVE DISTRICT (ILLINOIS): $157 million series 2012 general obligation bonds (Aa2/AA/AA); negotiated; Loop Capital Markets LLC (lead); Blaylock Robert Van LLC and M.R. Beal & Co. (co-managers); proceeds to construct, acquire, equip and renovate properties operated by the district, as well as to refund existing G.O. debt.

• $45.85 million series 2012A unlimited tax G.O. refunding bonds

• $54.7 million series 2012B limited tax project and G.O. refunding bonds

• $56.45 million series 2012C unlimited tax G.O. bonds

DISTRICT OF COLUMBIA/GALLERY PLACE PROJECT: $54,775,000 series 2012 tax increment revenue refunding bonds (A1/A-/A+); negotiated; TD Securities LLC and Goldman, Sachs & Co. (lead); Fidelity Capital Markets Inc. and M.R. Beal & Co. (co-managers); bonds due 2013 to 2031; proceeds to finance capital improvements to the Gallery Place-Chinatown subway station in Washington, D.C.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/BROOKLYN LAW SCHOOL: $60 million fixed-rate tax-exempt refunding bonds; proceeds to refund the law school's series 2003A-B revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/MIRIAM OSBORN MEMORIAL HOME ASSOCIATION: up to $55 million tax-exempt revenue bonds; negotiated; Herbert J. Sims & Co. (lead); proceeds to make renovations and upgrades to the association's independent and assisted living facilities, as well as to refund its series 2000B revenue bonds.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/MANHATTAN COLLEGE: $55 million (maximum); negotiated; proceeds to construct a student commons building and refund the college's series 2000 insured revenue bonds.

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.

FLOYD COUNTY HOSPITAL AUTHORITY (GEORGIA)/FLOYD MEDICAL CENTER: $53.15 million series 2012 revenue anticipation certification (Aa2); negotiated; Wells Fargo Securities LLC and Barclays Capital Inc. (lead); proceeds to finance or refinance the construction, acquisition, renovation and equipment of existing Floyd Medical Center facilities, as well as to refund the medical center's series 2002 certificates.

• Series 2012A bonds due 2013 to 2027 with term bonds due in 2032 and 2042

• Series 2012B bonds due 2013 to 2027 with term bond due in 2032

HAMILTON COUNTY (OHIO)/THE CHRIST HOSPITAL: $315.22 million series 2012 health care facilities revenue bonds (Baa1/BBB+/); negotiated; RBC Capital Markets LLC (lead); bonds due 2017 to 2022 with term bonds due in 2032 and 2042; proceeds to construct and acquire an orthopedic and spine center at the Chicago-based hospital's Auburn Avenue facility.

HOUSTON (TEXAS): $225 million series 2012 combined utility system Sifma index floating-rate refunding revenue bonds (/AA/AA-); negotiated; Loop Capital Markets LLC (lead for 2012A); Wells Fargo Securities LLC (lead for 2012B); proceeds to refund the city's series 2004B-1 combined utility system revenue bonds.

• $125 million series 2012A bonds due May 15, 2034

• $100 million series 2012B bonds due May 15, 2034

HOUSTON (TEXAS)/CONVENTION & ENTERTAINMENT FACILITIES DEPARTMENT: hotel occupancy tax and special revenue refunding bonds (A2/A-/); negotiated; Hutchinson, Shockey, Erley & Co. and Mesirow Financial (lead); bonds due 2026 to 2033; proceeds to refund city's series 2001B-C and 2011A-B hotel occupancy tax and special revenue bonds.

KAHALA NUI CORP./DEPARTMENT OF BUDGET AND FINANCE OF THE STATE OF HAWAII: $76.78 million series 2012 special purpose senior living revenue refunding bonds (//BBB-); negotiated; Ziegler Capital Markets Inc. (lead); proceeds to refund the corporation's series 2003 revenue bonds, which were used to finance the construction of senior living facilities operated by the corporation.

KENTWOOD ECONOMIC DEVELOPMENT CORP. (MICHIGAN)/HOLLAND HOME OBLIGATED GROUP: $50,225,000 series 2012 limited obligation revenue refunding bonds (//BB+); negotiated; Ziegler Capital Inc. (lead); proceeds to refund corporation's series 2000, 2002B and 2006B revenue bonds.

NORFOLK (VIRGINIA): $206,645,000 series 2012 general obligation bonds; negotiated; proceeds to fund capital improvements and refund existing G.O. bonds.

• $119,625,000 series 2012A tax-exempt G.O. capital improvement bonds

• $56,585,000 series 2012B tax-exempt G.O. capital improvement refunding bonds

• $8,945,000 series 2012C AMT G.O. refunding bonds

• $21.49 million series 2012D taxable qualified school reconstruction bonds

OSCEOLA COUNTY (FLORIDA): $71.35 million series 2012 tourist development tax revenue refunding and improvement bonds (Aa3/AA-/); negotiated; J.P. Morgan Securities LLC (lead); Citigroup Global Markets Inc. and Gardnyr Michael Capital Inc. (co-managers); proceeds to finance certain capital improvements within the county, as well as to refund the county's series 2002A and 2009 tourist development tax revenue bonds.

PALM BEACH COUNTY SCHOOL BOARD (FLORIDA): $68.12 million series 2012C certificates of participation (Aa3//AA-); negotiated; Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); COPs due 2016 to 2029; proceeds to refund school board's series 2004A COPs.

PASADENA UNIFIED SCHOOL DISTRICT (CALIFORNIA): $125 million series 2012 general obligation bonds; negotiated; RBC Capital Markets LLC (lead); proceeds to finance capital improvements for the district.

PHILADELPHIA HEALTH AND HIGHER EDUCATION FACILITIES AUTHORITY/TEMPLE UNIVERSITY HEALTH SYSTEM OBLIGATED GROUP (PENNSYLVANIA): $318.18 million series 2012 hospital revenue bonds (Ba1/BBB-/BBB-); negotiated; Morgan Stanley & Co. LLC and Barclays Capital Inc. (lead); PNC Bank, NA (co-manager); proceeds to finance capital projects for the obligated group and to refund existing debt.

• $220.95 million series 2012A revenue bonds

• $97.23 million series 2012B refunding bonds

PHOENIX INDUSTRIAL DEVELOPMENT AUTHORITY/ROWAN UNIVERSITY: $178.43 million series 2012 lease revenue bonds (A3/A+/); negotiated; Piper Jaffray & Co. (lead); bonds due 2017 to 2022 with term bonds due in 2027, 2032, 2036 and 2042; proceeds to refinance the costs of renovations and additions to the university.

PUERTO RICO INDUSTRIAL, TOURIST, EDUCATIONAL, MEDICAL AND ENVIRONMENTAL CONTROL FACILITIES AUTHORITY/ANA G. MENDEZ UNIVERSITY: $78 million series 2012 higher education revenue and revenue refunding bonds (/BBB-/); negotiated; Barclays Capital Inc. (lead); proceeds to construct, acquire, equip and renovate university facilities, as well as to repay a loan and refund the university's series 1998 and 1999 revenue bonds.

REGIONAL TRANSPORTATION AUTHORITY (ILLINOIS): $300 million series 2012A taxable general obligation working cash notes (Aa3/AA/AA); negotiated; J.P. Morgan Securities LLC (lead); Bank of America Merrill Lynch, BMO Capital Markets LLC and Loop Capital Markets LLC (co-managers); bonds due April 1, 2014, and June 1, 2014; proceeds to finance the working cash needs of the authority for the coming fiscal year.

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

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.

TULSA COUNTY INDUSTRIAL AUTHORITY (OKLAHOMA): $67.83 million series 2012 educational facilities lease revenue bonds; negotiated; D.A. Davidson & Co. (lead); bonds due 2013 to 2022; proceeds to construct new school facilities, renovate existing facilities and upgrade equipment at the school facilities of the county.

WEST CONTRA COSTA UNIFIED SCHOOL DISTRICT (CALIFORNIA): $100 million series 2012 general obligation refunding bonds (Aa3/A+/A+); negotiated; Piper Jaffray & Co. and De La Rosa & Co. Inc. (lead); proceeds to refund the school district's series 2000C and 2002A-C G.O. bonds.

WEST OTTAWA PUBLIC SCHOOLS (MICHIGAN): $60,255,000 series 2012 general obligation refunding bonds; negotiated; Fifth Third Securities Inc. (lead); Edward D. Jones & Co. and PNC Capital Markets LLC (co-managers); proceeds to refund existing G.O. bonds.

• $41,825,000 series 2012A school loan qualified bonds due 2013 to 2032

• $18.43 million series 2012B non-school bond loan qualified bonds due 2013 to 2020

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