Municipal Calendar: Massachusetts coordinates $350 million bond offering

Week of September 15

MASSACHUSETTS: $350 million series 2014E consolidated loan green general obligation bonds; negotiated; Morgan Stanley & Co. LLC, BofA Merrill Lynch, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead); Baird & Co., Barclays, Cabrera Capital Markets LLC, CastleOak Securities LP, Eastern Bank, Estrada Hinojosa & Co. Inc., Fidelity Capital Markets LLC, Janney Montgomery Scott LLC, Jefferies & Co., Loop Capital Markets LLC, Mesirow Financial Inc., Oppenheimer & Co. Inc., Piper Jaffray & Co., Prager & Co. LLC, Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Stifel, Nicolaus & Co. LLC, TD Securities (USA) Inc., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and The Williams Capital Group LP (co-managers); bonds due 2019 to 2031; proceeds to finance approved capital projects within the commonwealth; pricing week of Sept. 15.

MIAMI-DADE COUNTY EXPRESSWAY AUTHORITY (FLORIDA): $270 million series 2014 toll system revenue and refunding revenue bonds (A3/A-/A-); negotiated; Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC (lead); RBC Capital Markets LLC and Rice Financial Products Co. (co-managers); proceeds to refund the authority’s series 2005A and 2006 revenue bonds and terminate two forward swap agreements; pricing week of Sept. 15.

NORTHERN PALM BEACH COUNTY IMPROVEMENT DISTRICT (FLORIDA): $55,875,000 series 2014 water control and improvement bonds; negotiated; Raymond James/Morgan Keegan and FMSbonds Inc. (lead); proceeds to make capital improvements to water Unit of Development No. 2C; pricing week of Sept. 15.

TEXAS/TEXAS WINDSTORM INSURANCE ASSOCIATION: $500 million series 2014 premium revenue taxable bonds; negotiated; BofA Merrill Lynch (lead); Citigroup Global Markets Inc.; Goldman, Sachs & Co.; J.P. Morgan Securities LLC; Raymond James/Morgan Keegan; RBC Capital Markets LLC; and Siebert Brandford Shank & Co. LLC (co-managers); proceeds to finance the future costs of the association program and to fund a minimum balance to be held in the debt service fund; pricing week of Sept. 15.

September 18

CALIFORNIA: $110 million series CJ non-AMT veterans general obligation bonds (Aa2/AA/AA-); competitive; Public Resources Advisory Group (financial adviser); bonds due 2016 to 2020 and 2031 to 2035; proceeds to reimburse the Department of Veterans’ Affairs for contracts of purchase made under the state’s 1943 fund and to fund future contracts; pricing Sept. 18.

Week of September 22

September 24

MASSACHUSETTS: $1.2 billion series 2014 general obligation revenue anticipation notes (MIG 1/SP-1+/F1+); competitive; Public Financial Management Inc. (financial adviser); proceeds to finance capital expenditures for the commonwealth ahead of the collection of revenues in the coming fiscal year; pricing Sept. 24.

• $400 million series 2014A notes due April 23, 2015

• $400 million series 2014B notes due May 28, 2015

• $400 million series 2014C notes due June 25, 2015

On the Horizon

ALASKA MUNICIPAL BOND BANK: $57,565,000 series 2014-3 general obligation refunding bonds (/AA+/AA+); negotiated; RBC Capital Markets LLC and KeyBanc Capital Markets Inc. (lead); bonds due 2015 to 2044; proceeds to make three loans to governmental units for new money purposes, as well as to refund existing debt.

BREVARD COUNTY SCHOOL BOARD (FLORIDA): $62,205,000 series 2014 refunding certificates of participation (Aa3//AA-); negotiated; Wells Fargo Securities LLC and Citigroup Global Markets Inc. (lead); Raymond James/Morgan Keegan and Stifel, Nicolaus & Co. Inc. (co-managers); certificates due 2018 to 2030; proceeds to refund the board’s series 2006A certificates of participation.

CALIFORNIA: $2.29 billion series 2014 general obligation bonds (A3/A/A); negotiated; Citigroup Global Markets Inc. and Wells Fargo Securities LLC (joint senior managers); BofA Merrill Lynch (joint senior manager for green bonds); Jefferies & Co. (co-senior manager); Academy Securities, Alamo Securities Inc., Barclays, Blaylock Beal Van LLC, BMO Capital Markets LLC, Cabrera Capital Markets LLC, City National Securities Inc., Drexel Hamilton LLC, Fidelity Capital Markets LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Mischler Financial Group, Morgan Stanley & Co. LLC, O’Connor & Co. Securities, Piper Jaffray & Co., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, RH Investment Corp., Siebert Brandford Shank & Co. LLC, Southwest Securities Inc., Stifel, Nicolaus & Co., Wedbush Securities Inc., William Blair & Co. Inc. and The Williams Capital Group LP (co-managers); proceeds to repay commercial paper, finance green capital projects within the state and refund existing debt.

• $940 million various purpose G.O. bonds

• $200 million various purpose G.O. green bonds

• $950 million various purpose G.O. refunding bonds

• $200 million various purpose mandatory put G.O. bonds

CLIFTON HIGHER EDUCATION FINANCE CORP. (TEXAS): $94.6 million series 2014 education revenue and refunding bonds; negotiated; Baird & Co. (lead); Raymond James/Morgan Keegan and RBC Capital Markets LLC (co-managers); bonds due 2016 to 2034 with term bonds due in 2039 and 2044; proceeds to finance the acquisition and development of the corporation’s MLK, Brownsville and Austin campuses; acquire land for future campuses in San Antonio and Mission, as well as acquire a new headquarters.

CONNECTICUT: $730 million series 2014 transportation infrastructure special tax obligation bonds; negotiated; Raymond James/Morgan Keegan (senior); BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman, Sachs & Co., RBC Capital Markets LLC and Siebert Brandford Shank & Co. LLC (co-senior managers); Barclays, Cabrera Capital Markets LLC, CastleOak Securities LP, Edward D. Jones & Co. LP, Fidelity Capital Markets Inc., J.P. Morgan Securities LLC, Janney Montgomery Scott LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Roosevelt & Cross Inc., TD Securities (USA) LLC, The Williams Capital Group LP, U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC (co-managers); proceeds to finance the construction, reconstruction, improvement and repair of state highways and other transportation projects, as well as to refund existing transportation bonds.

• $600 million series 2014A special tax obligation bonds due 2015 to 2034

• $130 million series 2014B special tax obligation refunding bonds due 2017 to 2025

DORMITORY AUTHORITY OF THE STATE OF NEW YORK: $54,725,000 series 2014 school districts revenue bond financing program revenue bonds; negotiated; Raymond James/Morgan Keegan (lead); proceeds to refund the authority’s series 2005B-D school districts revenue bonds.

• $39,125,000 series 2014E bonds (/A+/AA-)

• $15.6 million series 2014F bonds (Aa3//AA-)

GUAM POWER AUTHORITY: $76.53 million series 2014A revenue bonds (Baa3/BBB/BBB-); negotiated; Barclays and Citigroup Global Markets Inc. (lead); bonds due 2017 to 2044; proceeds to finance power capital projects for the authority.

INDIANA FINANCE AUTHORITY/MAJOR HOSPITAL: $55.75 million series 2014A hospital revenue bonds (Baa2//BBB+); negotiated; Piper Jaffray & Co. (lead); proceeds to finance the costs of constructing, acquiring, equipping and furnishing a replacement hospital for Major Hospital in Shelbyville, Ind.

INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK/INDIANAPOLIS AIRPORT AUTHORITY: $163.97 million series 2014D AMT refunding bonds (A1/A/A); negotiated; BofA Merrill Lynch and PNC Capital Markets LLC (lead); BMO Capital Markets LLC, Drexel Hamilton LLC, J.P. Morgan Securities LLC and Ramirez & Co. Inc. (co-managers); bonds due 2016 to 2034; proceeds to refund existing airport debt.

LOUISIANA STATE UNIVERSITY AND AGRICULTURAL AND MECHANICAL COLLEGE: $82.74 million series 2014 auxiliary revenue refunding bonds (A1//AA-); negotiated; Raymond James/Morgan Keegan (lead); Citigroup Global Markets Inc. and RBC Capital Markets LLC (co-managers); bonds due 2015 to 2034 with term bond due in 2036; proceeds to refund the university’s series 2006 auxiliary revenue bonds.

MARYAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY/LOYOLA UNIVERSITY: $61.65 million series 2014 revenue bonds (A2/A/); negotiated; BofA Merrill Lynch and Morgan Stanley & Co. LLC (lead); bonds due 2027 to 2034 with term bonds due 2039 and 2045; proceeds to refund the authority’s series 2006A revenue bonds issued for the university.

MASSACHUSETTS: $329.6 million series 2014C general obligation refunding bonds; negotiated; Morgan Stanley & Co. LLC, BofA Merrill Lycnh, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead); Baird & Co., Barclays, Cabrera Capital Markets LLC, CastleOak Securities LP, Eastern Bank, Estrada Hinojosa & Co. Inc., Fidelity Capital Markets LLC, Janney Montgomery Scott LLC, Jefferies & Co., Loop Capital Markets LLC, Mesirow Financial Inc., Oppenheimer & Co., Piper Jaffray & Co., Prager & Co. Inc., Ramirez & Co. Inc., Raymond James/Morgan Keegan, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Stifel, Nicolaus & Co., TD Securities (USA) LLC, U.S. Bancorp Investments Inc., Wells Fargo Securities LLC and The Williams Capital Group LP (co-managers); bonds due 2019 to 2025; proceeds to refund the commonwealth’s series 2007C, 2008A and 2009A G.O. bonds.

MASSACHUSETTS DEVELOPMENT FINANCE AGENCY/BOSTON UNIVERSITY: $73.37 million series 2014Z revenue bonds (A1/A/); negotiated; J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); bonds due Oct. 1, 2019; proceeds to refinance the university’s series V-2 and V-3 revenue bonds.

• $63.17 million series 2014Z-1 bonds

• $10.2 million series 2014Z-2 bonds

MICHIGAN FINANCE AUTHORITY/THOMAS M. COOLEY LAW SCHOOL: $65,315,000 series 2014 higher education limited obligation revenue refunding bonds (/BB+/); negotiated; PNC Capital Markets LLC (sole); bonds due 2015 to 2044; proceeds to refund the authority’s series 2008A-B revenue bonds.

MISSOURI JOINT MUNICIPAL ELECTRIC UTILITY COMMISSION/IATAN 2 PROJECT: $156.25 million series 2014A power project revenue refunding bonds (A2//A); negotiated; BMO Capital Markets LLC and Barclays (lead); BofA Merrill Lynch, Goldman, Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities LLC (co-managers); proceeds to refund the commission’s series 2006A and 2009A revenue bonds.

MULTNOMAH COUNTY HOSPITAL FACILITIES AUTHORITY/MIRABELLA SOUTH AT WATERFRONT (OREGON): $93.31 million series 2014A revenue refunding bonds; negotiated; Cain Brothers (lead); bonds due 2024, 2034, 2044 and 2049; proceeds to refund existing revenue bonds.

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.

OKLAHOMA CAPITOL IMPROVEMENT AUTHORITY: $95 million series 2014C state agency facilities refunding revenue bonds (/AA/AA); negotiated; Goldman, Sachs & Co. (lead); BOSC Inc. (co-manager); bonds due 2015 to 2034; proceeds to refund the authority’s series 2006D state agency facilities revenue bonds.

PASCO COUNTY (FLORIDA): $99,935,000 series 2014 water and sewer revenue bonds (Aa2/AA+/AA); negotiated; BofA Merrill Lynch and Raymond James/Morgan Keegan (lead); proceeds to construct and erect a master pump station in the Wesley Chapel Service area and to advance refund the county’s series 2006 water and sewer revenue bonds.

• $52.84 million series 2014A refunding bonds due 2016 to 2034 with a term bond due in 2036

• $47,095,000 series 2014B improvement bonds due Oct. 1, 2044

PRIVATE COLLEGES AND UNIVERSITIES AUTHORITY/SAVANNAH COLLEGE OF ART AND DESIGN (GEORGIA): $193.6 million series 2014 revenue bonds (Baa2//BBB); negotiated; Wells Fargo Securities LLC (lead); bonds due 2015 to 2033; proceeds to finance the construction, acquisition and equipment of school facilities in Atlanta, as well as dormitory and other facilities at its Savannah campus.

RIVERSIDE REDEVELOPMENT SUCCESSOR AGENCY (CALIFORNIA): $65.17 million series 2014 tax allocation refunding bonds (/AA-/); negotiated; Stifel, Nicolaus & Co. (lead); proceeds to refund existing TABs.

SAN ANTONIO (TEXAS): $263,725,000 series 2014 junior-lien electric and gas system revenue refunding bonds (Aa2/AA-/AA+); negotiated; BofA Merrill Lynch and J.P. Morgan Securities LLC (lead); Cabrera Capital Markets LLC, Coastal Securities Inc., Frost Bank, Goldman, Sachs & Co. and Piper Jaffray & Co. (co-managers); bonds due 2016 to 2020; proceeds to refund the city’s series 2005 electric and gas system revenue bonds.

TOBACCO SETTLEMENT FINANCING CORP. (RHODE ISLAND): $593,655,000 series 2014 tobacco settlement asset-backed bonds (/A/BBB+); negotiated; Citigroup Global Markets Inc. and BofA Merrill Lynch (lead); Janney Montgomery Scott LLC, Oppenheimer & Co. Inc. and Raymond James/Morgan Keegan (co-managers); proceeds to make a payment of no less than $20 million to the state, refund the corporation’s series 2002A bonds and fund the purchase at the open market purchase price of certain maturities of the corporation’s series 2007.

• $336,065,000 series 2014A bonds due 2015 to 2029 with term bonds due 2034 and 2039

• $257.59 million series 2014B bonds due 2039, 2044 and 2049

UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE: $69.41 million series 2014 general obligation bonds (Aa3/A+/); negotiated; BofA Merrill Lynch and Citigroup Global Markets Inc. (lead); proceeds to refund a portion of the university’s series 2005 G.O. bonds.

WEST VIRGINIA WATER DEVELOPMENT AUTHORITY/CHESAPEAKE BAY/GREENBRIAR RIVER PROJECTS: $76.27 million series 2014A infrastructure excess lottery revenue bonds (A1/AAA/A+); negotiated; Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead); Piper Jaffray & Co. and RBC Capital Markets LLC (co-managers); bonds due 2015 to 2034; proceeds to finance grants to governmental units for water projects.

WINSTON-SALEM (NORTH CAROLINA): $50.74 million series 2014 limited obligation bonds (Aa2/AA+/AA+); negotiated; Baird & Co. and BofA Merrill Lynch (lead); proceeds to renovate a former rail station called Union Station into a local and regional bus terminal with office and retail space, as well as to refund the city’s series 2004B certificates.

• $8,915,000 series 2014B taxable bonds due 2015 to 2034

• $41,825,000 series 2014C bonds due 2015 to 2034

WPPI ENERGY (WISCONSIN): $72.05 million series 2014A power supply system revenue bonds (A1/A/A+); negotiated; J.P. Morgan Securities LLC (lead); Barclays and BMO Capital Markets LLC (co-managers); bonds due 2015 and 2025 to 2034 with a term bond due 2037; proceeds to refund the remaining principal of the utility’s series 2005A power supply system 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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