Higher education bonds

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.

The Tennessee State School Bond Authority has closed on a $437.7 million bond deal that will save the state $27.8 million while financing projects at colleges and universities.

The MSRB has drafted a new rule G-45 that would require underwriters or other primary distributors of Section 529 college savings plans to provide detailed information about these plans to the board’s EMMA system on a quarterly basis. But the board would not disseminate the data fight now.

Indiana's Purdue University will sell $58 million of student-fee bonds Wednesday in the first of two August deals to raise money for capital needs.

After being postponed a week, the NYU Hospitals Center's $250 million taxable bond sale will come to the market sometime this week — possibly as early as Tuesday.

Standard & Poor's and Moody's Investors Service have mixed outlooks on the higher education sector.

Sen. Charles Grassley, R-Iowa., called on Congress to review all higher education tax incentives and expenditures, including tax-exempt bonds, as part of comprehensive tax reform.

The Dormitory Authority of the State of New York board approved $1.1 billion of financings for higher education and health care institutions, including a $940 million personal income tax revenue bond program.

The school's Aa1 rating is at risk after the NCAA imposed a $60 million fine for its role in a child sex-abuse scandal.

Ohio State University touted the results of last week's $114 million refunding, saying demand outstripped supply by nearly three times, and that the deal was the university's latest successful move to drum up new revenue for its academic programs.

The rating agency does not expect the NCAA's $60 million fine to immediately affect the long-term ratings on various revenue bonds issued by and for the school.