Higher education bonds

The Pennsylvania Higher Educational Facilities Authority is expected to sell $200 million of revenue bonds on Tuesday and the New Jersey Economic Development Authority is expected to sell $400 million of bonds and notes on Wednesday, with retail pricing Tuesday.

The Dormitory Authority of the State of New York is expected to sell $50 million of revenue bonds for Fordham University this week.

The Illinois Finance Authority advanced more than $345 million in new-money and refunding issues for healthcare, higher education, and cultural institutions.

Moody's Investors Service on Friday downgraded Brazosport College District, Texas revenue bonds to A2 from A1 while Standard & Poor's lowered the outlook on its AA-minus rating to negative from stable.

The Dormitory Authority of the State of New York leads the week's issuance with a $238 million bond sale for the State University of New York on Tuesday.

Coastline Community College District in Orange County, Calif. wants to place a $700 million bond on the November ballot

The University of Michigan Health System last week announced it has signed an agreement to acquire a piece of MidMichigan Health, a nonprofit system that serves a 14-county region in the center of the state.

The 131-year-old Morris Brown College in Atlanta was forced to file for Chapter 11 bankruptcy after an investor holding $13 million of bonds demanded payment, or face foreclosure.

Standard & Poor’s last week revised its outlook to positive from stable on Michigan State University and affirmed its AA long-term rating.

The South Texas Higher Education Authority Inc. has proposed paying IRS $438,243 under the voluntary closing agreement program to settle tax law issues over $255.8 million of student loan bonds it issued in 2007.

Pulaski Technical College trustees decided last week to delay indefinitely an election to set up a taxing district for the school.

The Pennsylvania Higher Educational Facilities Authority is scheduled to sell $45 million of bonds for Thomas Jefferson University and $31 million for the University of the Sciences in Philadelphia on Tuesday.

City Colleges of Chicago has tapped Chicago Public Schools' deputy chief financial officer Melanie Jopek Shaker to shepherd its finances as it embarks on capital program.

Gov. Chris Christie signed legislation on Wednesday to integrate all but two units of the University of Medicine and Dentistry of New Jersey into Rutgers, the State University of New Jersey.

A new 330-acre district designed to raise revenue for a $300 million renovation of Arizona State University's Sun Devil Stadium is facing some resistance as the college town and Phoenix suburb of Tempe recovers from recession.

Mississippi's higher education officials last week said they have $683.9 million in capital needs, and they hope the Legislature will address some of that with bonding capacity next year.

The Massachusetts Development Finance Agency plans a $54 million sale of Northeastern University revenue bonds, with Barclays the lead manager.

JPMorgan wants California's Peralta Community College District to make good on a type of refinancing that may now be illegal, according to a complaint filed Monday.

The Internal Revenue Service is auditing $162.53 million of general fee revenue bonds issued by Auburn University in 2007.

Private student loan organizations still occupy a valuable space in the municipal bond market and will continue to do so for many years to come, write Vince Sampson and Samantha DeZur.