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Published on 11/30/2012 in the Prospect News Municipals Daily.

Municipal Calendar: Multnomah County organizes $128 million deal

Week of December 3

December 4

FREMONT UNIFIED SCHOOL DISTRICT (CALIFORNIA): $82.5 million series 2012B general obligation refunding bonds (Aa2/AA-/); competitive; Kaygent LLC (financial adviser); bonds due 2013 to 2030; proceeds to advance refund the district's series 2002 G.O. bonds and current refund its series 2004 G.O. bonds; pricing Dec. 4.

MULTNOMAH COUNTY (OREGON): $128 million series 2012 full faith and credit obligations (Aa1/AA/); competitive; Seattle-Northwest Securities Corp. (financial adviser); bonds due 2014 to 2033; proceeds to finance and refinance the construction of the Sellwood Bridge; pricing Dec. 4.

December 6

KANSAS DEPARTMENT OF TRANSPORTATION: $200 million series 2012C highway revenue bonds (//AA+); competitive; Public Financial Management Inc. (financial adviser); bonds due 2015 to 2032; proceeds to construct, reconstruct, maintain and repair state highways; preserve and revitalize rail systems in the state; improve public transit facilities for senior citizens, the disabled and the general public; and make improvements to general aviation facilities in the state; pricing Dec. 6.

MASSACHUSETTS STATE COLLEGE BUILDING AUTHORITY: $155.33 million series 2012C project revenue bonds (Aa2/AA/); competitive; Acacia Financial Group Inc. (financial adviser); bonds due 2014 to 2042; proceeds to make renovations, improvements and expansions to several colleges within the commonwealth; pricing Dec. 6.

On the Horizon

ALABAMA FEDERAL AID HIGHWAY FINANCE AUTHORITY: $336.92 million series 2012 federal highway grant anticipation bonds (Aa3/AA/); negotiated; Goldman, Sachs & Co. (lead); RBC Capital Markets LLC, Sterne Agee & Leach Inc., The Frazier Lanier Co. Inc., Loop Capital Markets LLC, Merchant Capital LLC and Prospective Securities (co-managers); bonds due 2013 to 2026; proceeds to finance road and bridge projects within the state.

CARMEL REDEVELOPMENT AUTHORITY (INDIANA): $188,535,000 series 2012 lease rental revenue multipurpose bonds; negotiated; Oppenheimer & Co. Inc. and William Blair & Co. (lead); Mesirow Financial (co-manager); proceeds to acquire the Keystone Avenue right-of-way from the City of Carmel.

COOK COUNTY (ILLINOIS): $90 million county road and highway improvement sales tax revenue bonds (//AAA); negotiated; Wells Fargo Securities LLC (lead); proceeds to finance road, bridge and highway infrastructure projects as part of the county's 2012 -2014 highway transportation plan.

EL PASO (TEXAS): $87.43 million series 2012A water and sewer revenue refunding and improvement bonds (/AA/AA+); negotiated; Citigroup Global Markets Inc. (lead); Siebert Brandford Shank & Co. LLC and Southwest Securities Inc. (co-managers); bonds due 2013 to 2033; proceeds to refund the city's series 2003B, 2004 and 2004A revenue bonds and to refund a portion of the city's water and sewer system commercial paper notes, as well as to finance capital improvements to the system.

HOUSTON: $175 million series 2012F combined utility system first-lien revenue refunding bonds (Aa2/AA/); negotiated; Raymond James/Morgan Keegan (lead); Barclays, Ramirez & Co. Inc. and Piper Jaffray & Co. (co-managers); proceeds to refund the city's series 2008D-1 utility system revenue bonds.

INDIANA FINANCE AUTHORITY: $113,075,000 series 2012C state revolving fund program bonds (Aaa/AAA/AAA); negotiated; Jefferies & Co. and Goldman, Sachs & Co. (lead); Bank of America Merrill Lynch, J.J.B. Hilliard, W.L. Lyons LLC and Ramirez & Co. (co-managers); bonds due 2020 to 2032; proceeds to finance loans for eligible program recipients.

INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PHOENIX (ARIZONA)/JMF-HIGLEY 2012 LLC PROJECT: $70.63 million series 2012 education facility revenue bonds; negotiated; Lawson Financial Corp. and Herbert J. Sims & Co. Inc. (lead); bonds due 2013, 2022, 2032, 2042, 2047 and 2052; proceeds to construct two middle schools - one in Gilbert, Ariz., and one in Queen Creek, Ariz.

LOS ANGELES DEPARTMENT OF AIRPORTS: $269.82 million series 2012 senior revenue bonds (Aa3/AA/AA); negotiated; Citigroup Global Markets Inc. (lead); Cabrera Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers); proceeds to finance terminal improvements to the city's airport system, as well as to refund existing commercial paper notes.

• $84.98 million series 2012A private activity AMT bonds due 2014 to 2029

• $152.34 million series 2012B private activity non-AMT bonds due 2014 to 2037

• $32.5 million series 2012C governmental non-AMT bonds due 2015 to 2019

MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY/FREDERICK MEMORIAL HOSPITAL: $98,595,000 series 2012A revenue bonds (Baa1//BBB+); negotiated; BB&T Capital Markets and PNC Capital Markets LLC (lead); bonds due 2013 to 2027 with term bonds due in 2035 and 2038; proceeds to relocate the hospital's helipad to the roof, renovate hospital rooms and other facilities and refund the hospital's series 2002 revenue bonds.

MASSACHUSETTS: $380.54 million series 2012 general obligation bonds; negotiated; J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC (lead); Citigroup Global Markets Inc., Fidelity Capital Markets Inc., Jefferies & Co. and Wells Fargo Securities LLC (co-managers); proceeds to finance capital projects in the commonwealth.

• $230.54 million series 2012B Sifma index G.O. refunding bonds due 2015 to 2017

• $150 million consolidated loan of 2012D G.O. bonds due 2014 to 2015 and 2017

NEW YORK MUNICIPAL WATER FINANCE AUTHORITY: $435 million series 2013BB water and sewer system second general resolution revenue bonds; negotiated; Raymond James/Morgan Keegan (lead); Barclays, Jefferies & Co., M.R. Beal & Co., Ramirez & Co. Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., Fidelity Capital Markets LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Rice Financial Products Co., Roosevelt & Cross Inc., Siebert Brandford Shank & Co. LLC, Wells Fargo Securities LLC, BB&T Capital Markets Inc., Lebenthal & Co. LLC, Oppenheimer & Co. Inc., Piper Jaffray & Co. and Stifel, Nicolaus & Co. Inc. (co-managers); proceeds to refund existing commercial paper notes and make a deposit to a construction fund.

NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY/WAKE FOREST UNIVERSITY: $110 million series 2012 educational facilities revenue bonds (Aa3/AA/); negotiated; Wells Fargo Securities LLC and BB&T Capital Markets LLC (lead); bonds due 2015 to 2033 with term bonds due 2040 and 2042; proceeds to construct and design residence halls, a dining hall and academic buildings, as well as to upgrade the university's heating plant.

TEXAS TRANSPORTATION COMMISSION: $939.27 million series 2012 highway improvement general obligation bonds (Aaa/AA+/AAA); negotiated; Wells Fargo Securities LLC and Bank of America Merrill Lynch (lead); Barclays, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, Loop Capital Markets LLC, Ramirez & Co. Inc. and Siebert Brandford Shank & Co. LLC (co-managers); proceeds to finance or reimburse the commission for the costs of highway improvements.

• $839.27 million series 2012A tax-exempt G.O. bonds due 2019 to 2042

• $100 million series 2012B taxable G.O. bonds due 2014 to 2019

TRUST FOR CULTURAL RESOURCES OF THE CITY OF NEW YORK/WILDLIFE CONSERVATION SOCIETY: $112,515,000 series 2012 revenue bonds (Aa3/AA-/); negotiated; Goldman, Sachs & Co. (lead); bonds due 2022 to 2033; proceeds to construct, equip, furnish and acquire Wildlife Conservation Society facilities at the Bronx Zoo and at the New York Aquarium.


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