Municipal Calendar: Houston arranges $332.5 million bond sale

Week of April 22

CABARRUS COUNTY (NORTH CAROLINA): $60,235,000 series 2013 general obligation refunding bonds (Aa1/AA+/AA+); negotiated; Piper Jaffray & Co. (lead); Southwest Securities Inc. (co-manager); bonds due 2014 and 2016 to 2027; proceeds to refund the county's series 2005 and 2006 general obligation bonds; pricing week of April 22.

EL PASO COUNTY HOSPITAL DISTRICT (TEXAS): $256 million series 2013 certificates of obligation and general obligation refunding bonds (//AA); negotiated; BofA Merrill Lynch (lead); proceeds to fund the acquisition, construction and equipment of three outpatient medical clinics, a satellite emergency center, renovations to some existing facilities and to refund the district's series 2005 bonds; pricing week of April 22.

• $140 million series 2013 combination tax and revenue certificates of obligation

• $116 million series 2013 G.O. refunding bonds

HOUSTON (TEXAS): $332.5 million series 2013 public improvement bonds (/AA/AA); negotiated; Rice Financial Products Co. (lead); Barclays, Wells Fargo Securities LLC and Backstrom McCarley Berry & Co. LLC (co-managers); proceeds to refund existing debt and to demolish dangerous structures in the city; pricing week of April 22.

• $250 million series 2013A public improvement refunding bonds

• $75 million series 2013B public improvement refunding bonds

• $7.5 million series 2013A demolition program certificates of obligation

MICHIGAN STATE UNIVERSITY: $175,715,000 series 2013A general revenue bonds (Aa1/AA/); negotiated; BofA Merrill Lynch and J.P. Morgan Securities LLC (lead); bonds due 2014 to 2033 with term bonds due in 2038 and 2041; proceeds to construct new research facilities, a bioengineering facility, a theater and residence halls; pricing week of April 22.

SAN ANTONIO (TEXAS): $74.3 million series 2013 municipal drainage utility system revenue bonds (Aa2//AA); negotiated; Stifel, Nicolaus & Co. (lead); proceeds to refund the city's series 2003 and 2005 bonds for savings; pricing April 24.

Week of April 29

April 30

NAPA VALLEY UNIFIED SCHOOL DISTRICT (CALIFORNIA): $51,405,000 series 2013 general obligation refunding bonds (Aa2/AA-/); competitive; Keygent Advisors LLC (financial adviser); bonds due 2013 to 2030; proceeds to refund district's series 2005 G.O. bonds; pricing April 30.

May 1

FULTON COUNTY (GEORGIA): $200 million series 2013 general fund tax anticipation notes (/SP-1+/F1+); competitive; Public Financial Management Inc. (financial adviser); notes due Dec. 31, 2013; proceeds to finance capital needs ahead of the collection of taxes; pricing May 1.

NEW JERSEY: $350 million series 2013 various purpose general obligation bonds; competitive; bonds due 2014 to 2033; proceeds to finance various capital projects within the state; pricing May 1.

UNIVERSITY OF ILLINOIS: $121,265,000 series 2013A auxiliary facilities system revenue bonds (Aa2/AA-/); competitive; Public Financial Management Inc. (financial adviser); proceeds to refund existing auxiliary facilities system revenue bonds; pricing May 1.

Week of May 6

May 7

LOUISIANA: $300 million series 2013 general obligation bonds; competitive; Lamont Financial Services Corp. (financial adviser); proceeds to finance general government, cultural, tourism, recreation, public safety, corrections, transportation and education projects; pricing May 7.

• $130.71 million series 2013A G.O. bonds due 2014 to 2033

• $169.29 million series 2013B taxable G.O. bonds due 2014 to 2026

On the Horizon

AKRON, BATH AND COPLEY JOINT TOWNSHIP HOSPITAL DISTRICT/CHILDREN'S HOSPITAL MEDICAL CENTER OF AKRON (OHIO): $93 million series 2013 hospital improvement revenue bonds (A1//A+); negotiated; Goldman, Sachs & Co. (lead); proceeds to construct, equip, acquire and furnish a new critical care tower at the medical center.

CALIFORNIA HOUSING FINANCE AGENCY: $133.92 million series 2013 residential mortgage revenue refunding bonds (Aaa); negotiated; BofA Merrill Lynch (lead); proceeds to refund existing bonds issued to fund mortgage loans.

• $100.35 million series 2013A taxable bonds

• $33.57 million series 2013B taxable bonds

CLAYTON COUNTY WATER AUTHORITY (GEORGIA): $66,685,000 series 2013 water and sewage revenue refunding bonds (Aa2); negotiated; Raymond James/Morgan Keegan (lead); proceeds to refund the authority's series 2003 and 2004 bonds for a $7.1 million net present value savings or 10.6% of refunded principal with no extension of maturities.

• $17,995,000 series 2013A bonds

• $48.69 million series 2013B taxable bonds

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.

DORMITORY AUTHORITY OF THE STATE OF NEW YORK/STATE UNIVERSITY OF NEW YORK: $271 million dormitory facilities revenue bonds; term to not exceed 21 years; proceeds to refund authority's series 2003A-B lease revenue bonds.

DOUGLAS COUNTY SCHOOL DISTRICT (GEORGIA): $116.91 million series 2013 general obligation refunding bonds (Aa2/AA+/); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2018 to 2027; proceeds to refund existing G.O. debt.

FAIRFAX COUNTY (VIRGINIA): $101,455,000 series 2013B public improvement bonds (Aaa/AAA/AAA); negotiated; Morgan Stanley & Co. LLC (lead); bonds due 2014 to 2024; proceeds to finance school, transportation, public safety, parks and recreation and other improvement, as well as to refund the county's series 2004A-B, 2005A, 2007A and 2008A public improvement bonds.

HAMPTON ROADS SANITATION DISTRICT (VIRGINIA): $215.22 million series 2013 wastewater revenue and refunding bonds (Aa2/AAA/AA+); negotiated; Raymond James/Morgan Keegan (lead); bonds due 2013 and 2019 to 2033 with term bond due in 2038; proceeds to finance capital wastewater projects and refund existing revenue bonds.

HEALTH CARE AUTHORITY FOR BAPTIST HEALTH (ALABAMA): $250 million series 2013A taxable bonds (A3/BBB+/); negotiated; BofA Merrill Lynch (lead); Wells Fargo Securities LLC, Merchant Capital LLC and The Frazier Lanier Co. Inc. (co-managers); proceeds to reimburse the authority for acquiring facilities and to refund and redeem existing debt.

HOUSTON (TEXAS): $190 million series 2013B combined utility system revenue and refunding bonds (Aa2/AA/); negotiated; Loop Capital Markets LLC (lead); Citigroup Global Markets Inc., Mesirow Financial Inc. and Siebert Brandford Shank & Co. LLC (co-managers); proceeds to construct, improve and repair the utility system, as well as to refund all or a portion of the city's series B commercial paper.

HOWARD HUGHES MEDICAL INSTITUTE (MARYLAND): $1.65 billion series 2013A taxable fixed-rate bonds (Aaa/AAA/); negotiated; J.P. Morgan Securities LLC, Goldman, Sachs & Co., Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); bonds due March 1, 2023; proceeds to fund an account established by the institute to create a reserve for its program spending.

IOWA FINANCE AUTHORITY/IOWA FERTILIZER CO.: $1,194,000,000 series 2013 Midwestern disaster area revenue bonds; negotiated; Citigroup Global Markets Inc. and BofA Merrill Lynch (lead); bonds due 2019, 2022 and 2025; proceeds to construct a nitrogen-based fertilizer and industrial production facility in southeastern Iowa, near the Illinois border.

JOHNS HOPKINS HEALTH SYSTEM (MARYLAND): $148.16 million series 2013 taxable bonds (Aa3/AA-/AA-); negotiated; Goldman, Sachs & Co. and J.P. Morgan Securities LLC (lead); bonds due May 15, 2018, and May 15, 2023; proceeds for general corporate purposes, as well as to refund the system's series 2008B revenue bonds.

LANCASTER EDUCATIONAL ASSISTANCE PROGRAM INC. (SOUTH CAROLINA)/LANCASTER COUNTY SCHOOL DISTRICT: $60,825,000 series 2013 installment purchase revenue refunding bonds (A1/A/); negotiated; BofA Merrill Lynch and Piper Jaffray & Co. (lead); Raymond James/Morgan Keegan (co-manager); proceeds to refund existing installment purchase revenue bonds for a debt service savings.

• $23,825,000 series 2013A taxable bonds due 2013 to 2020

• $37 million series 2103B tax-exempt bonds due 2021 to 2028

LOUISIANA LOCAL GOVERNMENT ENVIRONMENTAL FACILITIES AND COMMUNITY DEVELOPMENT AUTHORITY/EAST BATON ROUGE SEWERAGE COMMISSION: $219.43 million series 2013 subordinate lien revenue bonds (A1/A+/AA-); negotiated; Citigroup Global Markets Inc. and J.P. Morgan Securities LLC (lead); Raymond James/Morgan Keegan, Loop Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Stephens Inc. (co-managers); proceeds to construct, improve and rehabilitate the sewage disposal system for the commission.

• $126.93 million series 2013A revenue bonds due 2035, 2043 and 2048

• $92.5 million series 2013B Libor index bonds due Feb. 1, 2049

LOUISIANA STATE BOND COMMISSION/BIONITROGEN LOUISIANA HOLDINGS LLC: $1.25 billion tax-exempt bonds; proceeds to construct five plants in Point Coupee Parish, La., to convert biomass into urea fertilizer.

MAINE HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY: $64,885,000 series 2013A revenue bonds (A1//AA); negotiated; Morgan Stanley & Co. LLC and BofA Merrill Lynch (lead); Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); proceeds to refund existing debt.

MARYLAND HEALTH AND HIGHER EDUCATIONAL FACILITIES AUTHORITY/JOHNS HOPKINS HEALTH SYSTEM: $150.1 million series 2013 revenue bonds (Aa3/AA-/AA-); negotiated; J.P. Morgan Securities LLC and Goldman, Sachs & Co. (lead); proceeds to provide a loan to the health system.

• $88.25 million series 2013A bonds due 2046

• $61.85 million series 2013B bonds due 2029

METROPOLITAN WATER DISTRICT OF SOUTHERN CALIFORNIA: $145.49 million series 2013 water revenue refunding bonds (Aa1/AAA/AA+); negotiated; Goldman, Sachs & Co. (lead for 2013A, 2013C); De La Rosa & Co. Inc., J.P. Morgan Securities LLC, Loop Capital Markets LLC and US Bancorp Inc. (co-managers for 2013A, 2013C); J.P. Morgan Securities LLC and Loop Capital Markets LLC (lead for 2013B); proceeds to refund existing water revenue bonds.

• $90.46 million series 2013A bonds due 2013 and 2018 to 2021

• $18.7 million series 2013B taxable bonds due 2018

• $13,505,000 series 2013C-1 bonds due 2027

• $14.02 million series 2013C-2 bonds due 2025

• $8,805,000 series 2013C-3 bonds due 2023

MIDLOTHIAN INDEPENDENT SCHOOL DISTRICT (TEXAS): $56,357,637.05 series 2013A tax-exempt refunding bonds; negotiated; First Southwest Co. (lead); Raymond James/Morgan Keegan and Wells Fargo Securities LLC (co-managers); proceeds to refund the district's series 2005 and 2006 unlimited tax school building bonds.

• $56,025,000 current interest bonds

• $332,637.05 capital appreciation bonds

NEBRASKA INVESTMENT FINANCE AUTHORITY: $100 million series 2013 single family housing revenue bonds; negotiated; J.P. Morgan Securities LLC (lead); Ameritas Investment Corp. and D.A. Davidson & Co. (co-managers); proceeds to finance mortgage loans and to refund existing debt.

• $85,525,000 series 2013A non-AMT bonds due 2020 to 2023 with term bonds due 2028, 2031, 2034 and 2043

• $14,475,000 series 2013B AMT bonds due 2013 to 2020

SONOMA COUNTY JUNIOR COLLEGE DISTRICT (CALIFORNIA): $121.99 million series 2013 general obligation bonds (Aa2); negotiated; Piper Jaffray & Co. (lead); proceeds to advance refund portions of the district's election of 2002 series C general obligation bonds.

SPOKANE PUBLIC FACILITIES AUTHORITY (WASHINGTON): $127,255,000 series 2013 hotel/motel tax and sales/use tax bonds (A2); negotiated; Barclays (lead); proceeds to improve the Convention Center Exhibit Hall and the adjacent Centennial Trail and riverside, as well as to refund the authority's series 2003 bonds.

• $43,525,000 series 2013A bonds due 2013 to 2014 and 2033 to 2043

• $83.73 million series 2013B bonds due 2013 to 2033

UNIVERSITY OF ARKANSAS: $115.59 million series 2013 various facilities revenue refunding bonds (Aa2); negotiated; Stephens Inc. (lead); bonds due 2013 to 2032 with term bond due in 2034; proceeds to refund the university's series 2004A-B various facilities construction revenue bonds.

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