Higher education bonds

The Dormitory Authority of the State of New York is expected to sell $1 billion of personal income tax bonds in a competitive offering on Tuesday.

Fitch Ratings downgraded San Francisco Community College District three notches due to concerns about its accreditation.

The IRS is auditing $245.7 million of hospital revenue bonds issued by The Board of Trustees of the University of Alabama in Birmingham in September 2006.

Tennessee State School Bond Authority will take $427.7 million of higher education facilities revenue bonds to market Wednesday and Thursday to catch a favorable market.

Penn State University will endure the "trauma and potential credit stress" from the child sex-abuse conviction of former assistant football coach Jerry Sandusky and expected claims, Janney Capital Markets said.

Budget director Benjamin Barnes, backing a new law that Treasurer Denis Nappier opposes, said enabling a state agency to sell University of Connecticut bonds opens up possibilities for the flagship[ university.

The University of Arkansas System last week asked for proposals for a design team and construction manager for three athletic facilities that will be financed in part with bond proceeds.

Michigan Gov. Rick Snyder Monday signed a capital budget bill that authorizes $304 million of debt for projects at higher education institutions.

The IRS has preliminarily determined that $147.18 million of revenue refunding bonds issued by the City of Houston Higher Education Finance Corporation in 2006 are not tax-exempt.

Texas A&M University System Board of Regents will complete a $196 million issue of Permanent University Fund bonds Tuesday with a $71 million refunding expected to provide net present value savings of 13.4%, or $10.7 million.

Ohio State University approved a final $483 million concession agreement to lease its parking system for 50 years to QIC Global Infrastructure and LAZ Parking.

DALLAS — Moody’s Investors Service will keep the Aaa rating of Texas’ Alamo Community College District on negative outlook because of its exposure to a weakened U.S. credit profile, the agency said.

Despite a downgrade to Ba1 by Moody’s Investors Service, the Temple University Health System saw strong demand for $311 million of revenue and refunding bonds issued through the Philadelphia Hospitals and Higher Education Facilities Authority.

More Puerto Rico bonds are coming to market on Tuesday in a $78 million sale of higher education revenue debt and revenue refunding bonds.

The Internal Revenue Service has closed an audit without changing the tax-exempt status of $219.22 million of bonds that were issued by the curators of the University of Missouri in 2006.

CHICAGO — Ohio State University on Friday is expected to tap a private investor that has offered $483 million in cash to take over the school’s parking system for 50 years in a deal that would make OSU the first public university to privatize such an asset.

City Colleges of Chicago chief financial officer Kenneth Gotsch has resigned to take over the financial reins of Columbia College Chicago.

CHICAGO — Kent State University will come to market Thursday with $170 million of new-money bonds that will raise funds for a large capital plan at the school's main campus in Kent, Ohio.

The Dormitory Authority of the State of New York sold $140 million of new-money and refunding revenue bonds for triple-A rated Columbia University on Wednesday, after retail priced the same day.

At its meeting on Wednesday the board of the Dormitory Authority of the State of New York approved approximately $3.9 billion in financings for higher education and health care institutions.