Municipal Calendar: Los Angeles Unified School prepares $1.7 billion bond deal

Week of June 9

CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY/PROVIDENCE HEALTH & SERVICES: $279,135,000 series 2014A revenue bonds (/AA/AA); negotiated; BofA Merrill Lynch (lead); proceeds to refund the authority’s series 2008A revenue bonds issued for Providence Health & Services; pricing week of June 9.

HOUSTON (TEXAS): $530 million series 2014D first-lien combined utility system revenue and refunding bonds; negotiated; Goldman, Sachs & Co. (lead); Citigroup Global Markets Inc., Piper Jaffray & Co., BofA Merrill Lynch, FTN Financial Capital Markets and Ramirez & Co. Inc. (co-managers); proceeds to extend, improve and repair the city’s utility system, as well as to refund all of the city’s series B commercial paper notes and a portion of its water and sewer system revenue bonds; pricing week of June 9.

LOS ANGELES UNIFIED SCHOOL DISTRICT (CALIFORNIA): $1,703,000,000 series 2014 general obligation refunding bonds; negotiated; J.P. Morgan Securities LLC (lead); BofA Merrill Lynch; Goldman, Sachs & Co.; Fidelity Capital Markets Inc.; Siebert Brandford Shank & Co. LLC; and Backstrom McCarley Berry & Co. LLC (co-managers); proceeds to advance or current refund existing debt held by the district; pricing week of June 9.

• $197,465,000 series 2014A bonds due 2015 to 2022

• $356.8 million series 2014B bonds due 2015 to 2027

• $981.53 million series 2014C bonds due 2015 to 2031

• $167,205,000 series 2014D bonds due 2018 to 2030

MISSISSIPPI DEVELOPMENT BANK: $83 million series 2014 special obligation bonds (Aa3/AA-/); negotiated; Raymond James/Morgan Keegan (lead); Morgan Stanley & Co. LLC, Duncan-Williams Inc. and Stephens Inc. (co-managers); bonds due 2015 to 2030; proceeds to finance a loan to De Soto County, Miss., to fund a highway capital project; pricing week of June 9.

REGIONAL TRANSPORTATION AUTHORITY OF PIMA COUNTY (ARIZONA): $129,985,000 series 2014 transportation excise tax revenue bonds (/AA+/AA); negotiated; Wells Fargo Securities LLC (lead); Barclays, Citigroup Global Markets Inc. and RBC Capital Markets LLC (co-managers); bonds due 2015 to 2026; proceeds to finance highway and roadway capital projects as part of the authority’s 20-year capital plan; pricing week of June 9.

SOUTH CAROLINA PUBLIC SERVICE AUTHORITY (SANTEE COOPER): $400 million series 2014 revenue obligations (A1); negotiated; Barclays and BofA Merrill Lynch (lead); Goldman, Sachs & Co., Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC (co-managers); proceeds to finance capital improvements to the Virgil C. Summer Nuclear Generating Station Units 2 and 3 as part of a capital program, as well as to refund existing debt; pricing week of June 9.

June 10

CHESTERFIELD COUNTY (VIRGINIA): $61,305,000 series 2014 general obligation public improvement bonds; competitive; Public Resources Advisory Group (financial adviser); proceeds to finance public improvement projects throughout the county, as well as to refund existing G.O. public improvement bonds; pricing June 10.

• $14.61 million series 2014A G.O. public improvement bonds due 2015 to 2034

• $46,695,000 series 2014B G.O. public improvement refunding bonds due 2015 to 2025

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/TOURO COLLEGE AND UNIVERSITY SYSTEM OBLIGATED GROUP: $97,695,000 series 2014 revenue bonds (//BBB-); negotiated; Stifel, Nicolaus & Co. Inc. (lead); Ramirez & Co. Inc. and Ziegler Inc. (co-managers); proceeds to finance improvements to the university’s facilities in Middletown, N.Y.; pricing June 10.

• $59.72 million series 2014A bonds due 2018 to 2030 with term bonds due 2034, 2039 and 2044

• $37,975,000 series 2014B bonds due 2015 to 2024 with term bond due 2029

INTERMOUNTAIN POWER AGENCY (UTAH): $84,955,000 series 2014 revenue refunding bonds (A1/A+/AA-); negotiated; Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC (lead); proceeds to refund the agency’s series 2009A-B revenue bonds; pricing June 10.

• $49,015,000 series 2014A bonds due 2017 to 2019

• $35.94 million series 2014B taxable bonds due 2016 to 2017

KENTUCKY TURNPIKE AUTHORITY: $122.12 million series 2014A economic development road revenue refunding bonds (/AA+/A+); negotiated; Goldman, Sachs & Co. (lead); Morgan Stanley & Co. LLC; Citigroup Global Markets Inc.; J.J.B. Hilliard, W.L. Lyons LLC; Raymond James/Morgan Keegan; PNC Capital Markets LLC; First Kentucky Securities Corp.; Edward D. Jones & Co. LP; Fifth Third Securities Inc.; and Sterne, Agee & Leach Inc. (co-managers); bonds due 2016 to 2025; proceeds to refund the authority’s series 2005B revenue bonds; pricing June 10.

NEBRASKA PUBLIC POWER DISTRICT: $225.87 million series 2014 general revenue and refunding bonds (A1/A/A+); negotiated; Wells Fargo Securities LLC (lead); bonds due 2015 to 2034 with term bonds due 2039 and 2044, taxable due 2015; proceeds to refund existing debt; pricing June 10.

June 11

CONNECTICUT: $200 million series 2014D general obligation bonds; negotiated; Rice Financial Products Co. and William Blair & Co. (lead); J.P. Morgan Securities LLC, Janney Montgomery Scott LLC and RBC Capital Markets LLC (co-senior managers); BofA Merrill Lynch; Blaylock Beal Van LLC; Citigroup Global Markets Inc.; Estrada Hinojosa & Co. Inc.; Fidelity Capital Markets LLC; Goldman, Sachs & Co.; Jefferies & Co.; KeyBanc Capital Markets Inc.; Lebenthal & Co.; Piper Jaffray & Co.; Ramirez & Co. Inc.; Roosevelt & Cross Inc.; U.S. Bancorp Investments Inc.; and Wells Fargo Securities LLC (co-managers); bonds due 2015 to 2034; proceeds to finance capital projects within the state; pricing June 11.

INDIANA FINANCE AUTHORITY/CWA AUTHORITY INC. PROJECT: $235,275,000 series 2014A first-lien wastewater utility revenue bonds (/AA/A); negotiated; Morgan Stanley & Co. LLC (lead); City Securities Corp., J.P. Morgan Securities LLC and PNC Capital Markets LLC (co-managers); proceeds to make improvements, extensions and expansions to the wastewater system; pricing June 11.

LOS ANGELES COUNTY METROPOLITAN TRANSPORTATION AUTHORITY: $60.5 million series 2014A tax and revenue anticipation notes (/AA+/AA); competitive; Public Resources Advisory Group (financial adviser); notes due 2027 to 2034; proceeds to refund the authority’s series 2004A senior revenue bonds; pricing June 11.

MARYLAND DEPARTMENT OF TRANSPORTATION: $100 million series 2014 consolidated transportation bonds (Aa1/AAA/AA+); competitive; Public Financial Management Inc. (financial adviser); bonds due 2017 to 2029; proceeds to finance capital projects under the department’s consolidated transportation program; pricing June 11.

NEW YORK CITY: $850 million series 2014J-K general obligation bonds (Aa2/AA/AA); negotiated; Morgan Stanley & Co. LLC (lead); proceeds to refund outstanding G.O. debt; pricing June 11.

• $765 million series 2014J bonds

• $85 million series 2014K bonds

SANTA CRUZ COUNTY (CALIFORNIA): $50 million series 2014-2015 tax and revenue anticipation notes (MIG 1/SP-1+/); competitive; Harrell & Co. Advisors LLC (financial adviser); notes due July 1, 2015; proceeds to finance general fund expenditures for the coming fiscal year; pricing June 11.

UNIFIED GOVERNMENT OF WYANDOTTE COUNTY/KANSAS CITY (KANSAS): $186.46 million series 2014A Board of Public Utilities utility system improvement and refunding revenue bonds (A3/A+/A+); negotiated; BMO Capital Markets GKST Inc. (lead); bonds due 2014 to 2034 with term bonds due in 2039 and 2044; proceeds to fund planned environmental capital expenditures at the Kanas City Board of Public Utilities’ Nearman coal-fired generating station and to refund a portion of debt for interest savings; pricing June 11.

UNIVERSITY OF NORTH CAROLINA AT GREENSBORO: $124,455,000 series 2014 general revenue bonds (Aa3/A/); negotiated; Citigroup Global Markets Inc. (lead); BofA Merrill Lynch and Wells Fargo Securities LLC (co-managers); bonds due 2015 to 2034 with term bond due in 2039; proceeds to acquire Spartan Village, a student recreation center, as well as to construct, equip and acquire recreation facilities, including a fitness center, café, multipurpose space, offices and related facilities; pricing June 11.

UNIVERSITY OF UTAH: $74.63 million series 2014B general revenue and refunding bonds (Aa1/AA/); negotiated; J.P. Morgan Securities LLC, Wells Fargo Securities LLC and Zions Bank (lead); bonds due 2015 to 2039; proceeds to acquire and construct the Lassonde Living Learning Center, a combination of workshop and student living spaces, as well as to expand the university’s utility infrastructure; pricing June 11.

June 12

LOUISVILLE REGIONAL AIRPORT AUTHORITY (KENTUCKY): $254,215,000 series 2014 airport system revenue refunding bonds (/A+/A+); negotiated; Morgan Stanley & Co. LLC (lead); BofA Merrill Lynch and Citigroup Global Markets Inc. (co-managers); proceeds to refund existing debt; pricing June 12.

• $123,695,000 series 2014A AMT bonds

• $3,435,000 series 2014B non-AMT bonds

• $127,085,000 series 2014C taxable bonds

MAINE: $108.92 million series 2014 general obligation bonds (Aa2/AA/); competitive; Public Financial Management Inc. (financial adviser); proceeds to finance capital expenditures within the state, as well as to repay bond anticipation notes; pricing June 12.

• $40.82 million series 2014A taxable bonds due 2015 to 2018

• $68.64 million series 2014B bonds due 2018 to 2024

Week of June 16

June 18

NASSAU COUNTY (NEW YORK): $200 million series 2014 tax and revenue anticipation notes (/SP-1+/F1+); competitive; First Southwest Co. and TKG & Associates (financial advisers); notes due June 30, 2015; proceeds to finance city capital expenditures in the coming fiscal year; pricing June 18.

On the Horizon

CHICAGO (ILLINOIS)/CHICAGO MIDWAY AIRPORT: $124.71 million series 2014C senior-lien revenue refunding bonds (Aa1/AAA/A+); negotiated; J.P. Morgan Securities LLC (sole underwriter); bonds due Jan. 1, 2044; proceeds to finance certain airport capital projects and repay outstanding commercial paper notes.

LOS ANGELES COUNTY (CALIFORNIA): $900 million series 2014-15 tax and revenue anticipation notes; negotiated; J.P. Morgan Securities LLC and Wells Fargo Securities LLC (lead); Alamo Capital, KeyBanc Capital Markets Inc. and Stifel, Nicolaus & Co. Inc. (co-managers); notes due June 30, 2015; proceeds to finance capital expenditures for the coming fiscal year.

NASSAU COUNTY (NEW YORK): $315 million series 2014 general obligation notes (/SP-1+/F1+); negotiated; J.P. Morgan Securities LLC and BofA Merrill Lynch (lead); proceeds to finance countywide capital projects.

• $115 million series 2014A bond anticipation notes due Feb. 2, 2015

• $130 million series 2014A revenue anticipation notes due March 16, 2015

• $70 million series 2014B revenue anticipation notes due April 15, 2015

NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY/LIONS GATE: $61,675,000 series 2014 fixed-rate revenue bonds; negotiated; H.J. Sims & Co. (lead); bonds due 2015 to 2024, 2039, 2034 and 2044; proceeds to finance the renovation of the Lions Gate assisted living community’s kitchen and dining area, as well as the expansion of its fitness facilities, and to refund its series 2005B bonds.

ORANGE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/VITAG FLORIDA LLC: $61,815,000 series 2014 industrial development revenue bonds; negotiated; Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (lead); bonds due 2024 and 2036; proceeds to acquire, construct and equip a solid waste disposal facility, including a biosolids-to-fertilizer facility in Zellwood, Fla. VitAG Florida LLC is a limited liability company formed for the construction of the facilities.

OREGON: $590.5 million series 2014A full faith and credit tax anticipation notes (MIG 1/SP-1+/F1+); negotiated; Citigroup Global Markets Inc. and BofA Merrill Lynch (lead); Barclays, Goldman, Sachs & Co. and J.P. Morgan Securities LLC; notes due June 15, 2015; proceeds to finance seasonal cash needs for the state.

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.

PUBLIC FINANCE AUTHORITY/ROSE VILLA (WISCONSIN): $62.23 million series 2014 senior living revenue bonds; negotiated; Ziegler Capital Inc. (lead); proceeds to finance the construction of 75 new independent living apartments and a commons area, among other improvements at the Rose Villa assisted living facility in unincorporated Clackamas County, Ore., just outside of Portland.

• $43.73 million series 2014A fixed-rate bonds due 2024, 2029, 2034, 2044 and 2049

• $3.5 million series 2014B-1 tax-exempt mandatory paydown securities due Nov. 15, 2020

• $3.5 million series 2014B-2 tax-exempt mandatory paydown securities due Nov. 15, 2020

• $11.5 million series 2014B-3 tax-exempt mandatory paydown securities due Nov. 15, 2019

RHODE ISLAND STUDENT LOAN AUTHORITY: $93.1 million series 2014-1 Federal Family Education Loan Program-backed Libor floating-rate notes (/AA+(sf)/AAAsf); negotiated; BofA Merrill Lynch (lead); notes due Oct. 2, 2028; proceeds to refund the authority’s series 2008B-3, 2011A and 2012B student loan revenue bonds.

SAN JUAN UNIFIED SCHOOL DISTRICT (CALIFORNIA): $105,975,000 series 2014 general obligation bonds (Aa2); negotiated; KeyBanc Capital Markets Inc. (lead); proceeds to acquire, construct and furnish school facilities in the district.

• $25,975,000 election of 2002 series 2014 general obligation bonds due 2014 to 2032

• $80 million election of 2012 series B general obligation bonds due 2015 to 2027

SOUTH DAKOTA HEALTH AND EDUCATIONAL FACILITIES AUTHORITY/AVERA HEALTH: $58.6 million series 2014 revenue bonds; negotiated; BofA Merrill Lynch and Dougherty & Co. LLC (lead); bonds due 2015 to 2029; proceeds to finance the construction of a professional medical services building as well as the replacement of a retirement community in Sioux Falls.

YSLETA INDEPENDENT SCHOOL DISTRICT (TEXAS): $80.08 million series 2014 unlimited tax refunding bonds; negotiated; BOSC Inc. (lead); Jefferies & Co., Ramirez & Co. Inc. and RBC Capital Markets LLC (co-managers); bonds due 2014 to 2030; proceeds to refund the district’s series 2006 unlimited tax school building bonds.

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