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

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.

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 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 17

GEORGIA: $977.83 million series 2014 general obligation bonds; competitive; Public Resources Advisory Group (financial adviser); proceeds to finance various capital outlay projects for the state, as well as to refund existing G.O. debt; pricing June 17.

• $649.97 million series 2014A G.O. bonds due 2015 to 2034

• $151,115,000 series 2014B taxable G.O. bonds due 2015 to 2034

• $13.75 million series 2014C taxable qualified school construction bonds due 2015 to 2034

• $162,995,000 series 2014D G.O. refunding bonds due 2015 to 2018

SEATTLE (WASHINGTON): $146,125,000 series 2014 drainage and wastewater improvement and refunding revenue bonds (Aa1/AA+/); competitive; Piper Jaffray & Co. (financial adviser); bonds due 2015 to 2044; proceeds to finance drainage and wastewater projects, as well as to refund existing debt; pricing June 17.

UNION COUNTY (NEW JERSEY): $65 million series 2014 improvement bonds; competitive; bonds due 2015 to 2030; proceeds to finance capital projects throughout the county, as well as to refund bond anticipation notes; pricing June 17.

• $53.85 million series 2014 general improvement bonds

• $2.46 million series 2014 county vocational-technical school bonds

• $5.75 million series 2014A county college bonds

• $2.22 million series 2014B county college bonds

• $720,000 series 2014 redevelopment bonds

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

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.

METROPOLITAN TRANSPORTATION AUTHORITY: $500 million series 2014C transportation revenue bonds; negotiated; Jefferies & Co. and Stern Brothers & Co. (lead); BofA Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Loop Capital Markets LLC, Morgan Stanley & Co. LLC, Ramirez & Co. Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC, and Wells Fargo Securities LLC (co-senior managers); Barclays, BMO Capital Markets LLC, Cabrera Capital Markets LLC, CastleOak Securities LP, Duncan-Williams Inc., Estrada Hinojosa & Co. Inc., Fidelity Capital Markets Inc., Janney Montgomery Scott LLC, KeyBanc Capital Markets Inc., Lebenthal & Co. LLC, M&T Securities Inc., Mesirow Financial Inc., Oppenheimer & Co. Inc., Piper Jaffray & Co., PNC Capital Markets LLC, Raymond James & Co., Rice Financial Products Co., Roosevelt & Cross Inc., Stifel, Nicolaus & Co., TD Securities Inc., U.S. Bancorp Investments Inc. and Williams Capital Group LP (co-managers); proceeds to finance commuter and transit projects.

• $400 million series 2014C-1 fixed-rate bonds

• $100 million series 2014C-2 Sifma floating-rate tender notes

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.

NEW ORLEANS (LOUISIANA): $112.18 million series 2014 water revenue and refunding bonds (/BBB+/BBB); negotiated; Goldman, Sachs & Co., BofA Merrill Lynch and Morgan Stanley & Co. LLC (lead); Loop Capital Markets LLC, Raymond James/Morgan Keegan and Stephens Inc. (co-managers); proceeds to finance the expansion and improvement of the city’s water system, as well as to refund existing debt.

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 (MIG1/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.

PITTSBURG REDEVELOPMENT SUCCESSOR AGENCY (CALIFORNIA)/LOS MEDANOS COMMUNITY DEVELOPMENT: $70 million series 2014 tax allocation refunding bonds (/A/A); negotiated; Stifel, Nicolaus & Co. and Stinson Securities LLC (lead); bonds due 2014 to 2029; proceeds to refund the agency’s series 1999 and 2003 tax allocation 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.

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.

TEXAS TRANSPORTATION COMMISSION: $900 million series 2014 general obligation mobility fund refunding bonds (Aaa/AAA/AAA); negotiated; BofA Merrill Lynch (lead); Barclays, Morgan Stanley & Co. LLC, Piper Jaffray & Co., Ramirez & Co. Inc., RBC Capital Markets LLC, Siebert Brandford Shank & Co. LLC and Wells Fargo Securities LLC (co-managers); bonds due 2016 to 2034; proceeds to finance the costs of constructing, expanding and improving state highways, as well as to refund existing parity 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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