Higher education bonds

CHICAGO — Ohio's universities and community colleges have asked the state to approve $350 million for new capital projects.

The Arkansas Higher Education Coordinating Board has approved the sale of $19.6 million of housing and student revenue bonds by the Arkansas State University Board of Trustees.

The University System of Georgia is consolidating eight of the state's 35 colleges and universities in a move that may be replicated around the country as higher education institutions continue to deal with state budget cuts.

SAN FRANCISCO — The University of Washington, a top-notch credit, will hit a supply-constrained municipal debt market Wednesday with $271.3 million of bonds for refinancing and to fund various construction projects.

Nebraska lawmakers are eying a plan that would allow community colleges to use property tax dollars to back revenue bonds for capital improvements.

WASHINGTON — The Internal Revenue Service is auditing $31.59 million of Series 2004A first mortgage revenue bonds that were issued by the St. Johns County Industrial Development Authority in August 2004 to help Presbyterian Retirement Communities Inc. and its affiliates finance improvements to eight retirement centers in Florida.

Providence Mayor Angel Taveras warned that the Rhode Island capital will run out of money in June without a reduction in pension obligations and larger contributions from tax-exempt institutions such as Brown University.

The Connecticut State Bond Commission has approved $291 million of borrowing over 10 years for a proposed research laboratory adjacent to the University of Connecticut Health Center in Farmington.

Trustees of National Park Community College last week postponed an April property tax election until its bond counsel can determine if the revenue can be used for capital improvements.

DALLAS — After sitting out 2011, the University of Texas System Board of Regents will offer $200 million of top-rated revenue financing system refunding bonds to a receptive market this week, followed shortly by another $235 million deal.

The Dormitory Authority of the State of New York’s board has approved $534 million in financings for higher education and health care institutions.

DALLAS — The largest two-year state-supported technical college in Arkansas without local tax support will ask Pulaski County voters to create a taxing district.

The Fox Valley Technical College will seek approval on the April 3 ballot for $66.5 million of new borrowing to finance capital projects.

The Oklahoma State Regents for Higher Education will ask lawmakers for a five-year program of $54 million in annual bond sales to reduce a $271 million backlog in the state’s endowed chair program.

The Board of Trustees of Arkansas State University last week approved a proposal for $28.5 million of revenue bonds for projects at the school’s main campus in Jonesboro.

Moody’s Investors Service has upgraded Lake County Community College District 532’s rating to Aaa from Aa1.

Connecticut and Jackson Laboratory finalized their agreement for the Bar Harbor, Maine, company to build a $1.1 billion personalized-medicine laboratory at the University of Connecticut Health Center in Farmington.

Moody’s Investors Service has revised the outlook on the University of Washington’s Aaa general obligation bond rating to stable from negative.

Michigan-based Trinity Health, one of the nation's largest Catholic health care systems, will invest up to $150 million over the next five years as part of its acquisition of Mercy Health System if the deal is approved by an Illinois review board.

Moody’s Investors Service has affirmed Roosevelt University’s Baa2 rating, but analysts revised the outlook to negative from stable, partly because of recent enrollment challenges and stagnant tuition growth.