Municipal Calendar: Alabama offers $200 million G.O. refunding bonds

Week of July 14

METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA: $50.65 million series 2014 water revenue refunding bonds (Aa1/AAA/AA+); negotiated; Morgan Stanley & Co. LLC (lead for 2014E); Citigroup Global Markets Inc., Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. (co-managers for 2014E); Citigroup Global Markets Inc. (lead for 2014F); proceeds to refund existing water revenue bonds; pricing week of July 14.

• $40.77 million series 2014E bonds

• $9.88 million series 2014F taxable bonds

METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA: $72,025,000 series 2014G term rate mode water refunding revenue bonds (Aa1/AAA/AA+); negotiated; Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., Ramirez & Co. Inc., Siebert Brandford Shank & Co. LLC and Stifel, Nicolaus & Co. (co-managers); proceeds to refund the district’s series 2004A and 2008A-2 water revenue bonds; pricing July 16.

MILPITAS UNIFIED SCHOOL DISTRICT (CALIFORNIA): $70 million series 2014 general obligation bonds (Aa2/AA-/); negotiated; Raymond James/Morgan Keegan (lead); proceeds to current refund the district’s series 2004 G.O. bonds; pricing week of July 14.

• $40 million election of 2012 series B G.O. bonds

• $30 million series 2014 G.O. refunding bonds

Week of July 21

DISTRICT OF COLUMBIA WATER AND SEWER AUTHORITY: $100 million series 2014 tax-exempt subordinate lien variable-rate demand bonds (Aa2/AA+/AA); negotiated; proceeds to finance capital improvements; pricing week of July 21.

July 21

HARRIS COUNTY (TEXAS): $225 million series 2014 tax anticipation notes (/SP-1+/F1+); competitive; First Southwest Co. (financial adviser); notes due Feb. 27, 2015; proceeds to finance general cash flow needs for the 2015 fiscal year ahead of the collection of ad valorem taxes; pricing July 21.

July 24

NEW MEXICO FINANCE AUTHORITY: $57,115,000 series 2014B revolving fund revenue bonds (Aa1/AAA/); competitive; Western Financial Group LLC (financial adviser); bonds due 2015 to 2035; proceeds to originate loans to local governmental units for capital projects; pricing July 24.

STATE OF ALABAMA: $200,625,000 of series 2014-A general obligation refunding bonds; competitive; Rice Advisory, LLC (financial advisor); serial maturities from 2017 through 2026; proceeds to refund outstanding debt; pricing July 24.

On the Horizon

DALLAS AND FORT WORTH (TEXAS)/DALLAS/FORT WORTH INTERNATIONAL AIRPORT: $80,295,000 series 2014D joint revenue refunding bonds (/A+/A); negotiated; Cabrera Capital Markets LLC and Ramirez & Co. Inc. (lead); bonds due 2014 to 2027; proceeds to refund the airport’s series 2004B improvement bonds and series 2007 revenue refunding bonds.

HOUSTON (TEXAS): $300 million series 2014A public improvement refunding bonds (Aa2/AA+/); negotiated; Mesirow Financial Inc. (lead); Barclays, Wells Fargo Securities LLC, Cabrera Capital Markets LLC, Morgan Stanley & Co. LLC and Robert W. Baird & Co. Inc. (co-managers); proceeds to refund existing public improvement bonds.

HOUSTON (TEXAS): $95 million series 2014 hotel occupancy tax and special revenue and refunding bonds (A2/A-/); negotiated; Hutchinson Shockey Erley & Co. (lead); J.P. Morgan Securities LLC (co-manager); proceeds to refund the city’s series 2012 hotel occupancy tax and special revenue bonds.

MAINE TURNPIKE AUTHORITY: $60,615,000 series 2014 revenue and special obligation bonds; negotiated; BofA Merrill Lynch and RBC Capital Markets LLC (lead); J.P. Morgan Securities LLC, Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers); proceeds to refund the authority’s series 2004 and 2007 turnpike revenue bonds and to purchase from the Maine Department of Transportation a portion of Interstate 95 in Kittery, Maine.

• $33,705,000 series 2014 turnpike revenue refunding bonds (Aa3/AA-/AA-) due 2015 to 2020

• $26.91 million series 2014 special obligation bonds (A2/A/A-) due 2019 to 2034

MISSISSIPPI HIGHER EDUCATION ASSISTANCE CORP.: $397 million of series 2014 taxable Libor-indexed student loan asset-backed notes; negotiated; BofA Merrill Lynch (bookrunner); proceeds to refinance eligible loans held by or for the benefit of the corporation.

• $387 million of series 2014A-1 notes due Oct. 25, 2035 (/AA+/AAA)

• $10 million of non-rated series 2014B-1 bonds due May 25, 2044 held by the corporation

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.

NEW JERSEY TURNPIKE AUTHORITY: $125 million series 2014B turnpike revenue bonds; negotiated; RBC Capital Markets LLC (lead); Barclays, Piper Jaffray & Co., PNC Capital Markets LLC, BNY Mellon Capital Markets Inc. and Janney Montgomery Scott LLC (co-managers); proceeds to refund the authority’s series 2011A-B turnpike revenue bonds.

NEW MEXICO MUNICIPAL ENERGY ACQUISITION AUTHORITY: $722.91 million of gas supply revenue refunding bonds; negotiated; RBC Capital Markets, LLC; proceeds to refund outstanding series 2009 gas supply variable-rate revenue bonds.

• $200 million of sub-series 2014A bonds due Nov. 1, 2039

• $522.91 million of sub-series 2014B variable-rate bonds due 2015-2019 and 2039

OMAHA PUBLIC POWER DISTRICT (NEBRASKA): $111.15 million series 2014 electric system subordinate revenue bonds (Aa3/AA-/); negotiated; Morgan Stanley & Co. LLC and Edward D. Jones & Co. LP (lead); Ameritas Investment Corp., BofA Merrill Lynch, Citigroup Global Markets Inc., Fidelity Capital Markets Inc., Goldman, Sachs & Co., J.P. Morgan Securities LLC, Piper Jaffray & Co., Ramirez & Co. Inc., RBC Capital Markets LLC and Wells Fargo Securities LLC (co-managers); proceeds to refund the district’s series 2007AA, 2005B and 2006C revenue bonds.

• $86,325,000 series 2014AA bonds

• $24,825,000 series 2014BB bonds

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.

REGENTS OF THE UNIVERSITY OF MINNESOTA: $141,355,000 of series 2014B general obligation bonds (/AA/); negotiated; RBC Capital Markets, LLC (lead); Barclays Capital, Inc., Dougherty & Co., LLC and J.P. Morgan Securities LLC (co-managers); serial maturities from 2017 through 2039 and term bond due Jan. 1, 2044; proceeds to finance ambulatory care center, reimburse the university for costs and pay capitalized interest on the bonds during construction.

STATE BOARD OF REGENTS OF THE STATE OF UTAH: $277 million of series 2014-1 Libor-indexed student loan-backed notes due Dec. 26, 2038 (/AA+/AAA); negotiated; RBC Capital Markets LLC (bookrunner); proceeds to refinance about $287 million outstanding of series 2011A bonds and series 2014A bonds.

UTAH COUNTY (UTAH)/IHC HEALTH SERVICES INC.: $155,435,000 series 2014A hospital revenue bonds (Aa1/AA+/); negotiated; Wells Fargo Securities LLC and J.P. Morgan Securities LLC (lead); proceeds to acquire, construct, equip and furnish health care facilities operated by IHC.

WASHINGTON HEALTH CARE FACILITIES AUTHORITY/OVERLAKE HOSPITAL MEDICAL CENTER: $55 million series 2014 revenue bonds (A2/A/); negotiated; BofA Merrill Lynch and RBC Capital Markets LLC (lead); proceeds to refund the authority’s series 2003 and 2005A-B revenue bonds.

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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