Higher education bonds

DALLAS - Two Texas universities, one public and one private, are preparing $420 million of bonds for expansion projects amid signs of a steadily improving economy.

The University of Connecticut plans to issue $200 million of general obligation debt-service commitment Series 2011A new-money bonds, and $20 million of Series A refunding bonds, beginning with a two-day retail period that commences Friday.

Plans to sell $294.6 million in lease revenue bonds for the University of California via negotiation next week received a AA rating and stable outlook from Fitch Ratings on Nov. 9.

Ohio State University announced last week that it has selected seven possible partners for the school's plan to become the first public university to privatize its parking system.

The Dormitory Authority of the State of New York plans a sale of $135 million revenue bonds under its school districts revenue bond financing program Wednesday, after a one-day retail period.

Texas Sen. Kirk Watson, D-Austin, told a 10-member committee established to lay the groundwork for building a medical school in Austin that it is too early to know how much the proposal will cost.

The city that envelops it is a financial mess, but Harrisburg Area Community College had Standard & Poor's affirm its bond rating at A, with a stable outlook. "The Harrisburg name is not a taint on the credit quality of all related issuers," Janney Capital Markets said in a report.

Fitch Ratings assigned a AA to the Maine Health and Higher Educational Facilities Authority's $37.25 million of Series 2011C revenue bonds, which are expected to sell by negotiation this week.

When Jackson Laboratory of Bar Harbor, Maine, scuttled plans to establish a research facility in Florida, several other states came banging at the door of the genetics research company. Connecticut won out.

Standard & Poor's warned that retiree health care benefits are a growing burden for public universities.

Moody’s Investors Service upgraded the Waubonsee Community College District 516 one notch to Aa1 in recognition of its large and growing tax base and strong fiscal position.

LOS ANGELES - The University of California, Los Angeles, plans to build a $152 million on-campus hotel and conference center to be funded by a $40 million donation and $112 million of bonds.

DALLAS - Arizona State University will have a new way to issue debt with a stadium district authorized by the Maricopa County Board of Supervisors in Phoenix.

Moody’s Investors Service has assigned a Aa2 to the University of Massachusetts’ $28.1 million of tax-exempt, fixed-rate Series 2011 revenue refunding bonds.

DALLAS - The University of Colorado Board of Regents will have $1.4 billion of outstanding debt after this week's $203 million enterprise revenue bond issue, according to analysts.

Standard & Poor’s lowered its long-term rating on the Philadelphia Hospitals and Higher Education Facilities Authority’s revenue bonds, issued for Temple University Health System, to BBB-minus from BBB.

Standard & Poor’s assigned its A long-term rating to the Massachusetts Development Finance Agency’s Series 2011 bonds issued for Clark University and affirmed the underlying A on outstanding bonds issued for the university by the agency.

DALLAS - The University of Arkansas System will add and upgrade athletic facilities at its main campus in Fayetteville through a 30-year, $320 million master plan announced Tuesday by athletic director Jeff Long.

Georgia Gov. Nathan Deal last week announced the formation of a commission to study funding for higher education.

CHICAGO - Ohio State University is coming to market this week with at least $300 million of taxable general receipts bonds that feature 100-year maturities, marking the first time a public university has floated century bonds.