Higher education bonds

Fitch Ratings has affirmed its stable outlook and A-minus rating for the University of Medicine and Dentistry of New Jersey.

St. Louis-based Webster University received one-notch rating upgrades ahead of its recent new-money and refunding sale for $61 million.

BRADENTON, Fla. - Lambuth University in Jackson, Tenn., closed down academic operations Thursday while administrative offices remained open and negotiations continued with various parties for the payment of debts, including outstanding bonds.

The Pennsylvania Higher Educational Facilities Authority plans to sell $118.4 million of Series AM fixed-rate, tax-exempt revenue bonds through competitive bid on Wednesday.

Rhode Island's public colleges have proposed legislation to establish their own purchasing departments to spend money raised from tuition and fees.

CHICAGO - The University of Missouri Board of Curators will enter the market next week with $60 million of refunding system facilities revenue bonds as itgrapples with a steeper-than-expected cut in state aid made by Gov. Jay Nixon earlier this month.

New Orleans Mayor Mitch Landrieu said Monday the state should stick with the current plan to build a $1.2 billion, 424-bed hospital in the city. Construction financing for the University Medical Center includes $407 million of hospital revenue bonds.

CHICAGO - The University of Illinois Thursday will refund outstanding debt and raise new money for the ongoing makeover of a major student housing complex that comes as Illinois' flagship public university has scaled back on capital plans amid ongoing delinquencies in state support.

Bloomington plans to issue $13 million of revenue bonds to finance the acquisition of 12 acres of downtown property from Indiana University. The city hopes to then sell the land to a developer for residential and retail projects.

DALLAS — Texas will leverage its strong credit to raise its reputation in higher education this week with $152 million of student loan bonds.

The Dormitory Authority of the State of New York will issue $260 million of Series 2011A lease revenue bonds on Tuesday through negotiated bid.

CHICAGO — Washington University in St. Louis will enter the market Thursday with nearly $200 million of new-money and refunding revenue bonds that will help finance projects and introduce taxable bonds into the top-rated school's debt portfolio.

North Carolina Gov. Beverly Perdue on Sunday vetoed the $19.7 billion budget sent to her by the Republican-controlled Legislature.

Trustees of Maricopa County Community College District will consider a plan Tuesday night to raise property taxes to compensate for an 85% cut in state aid.

New York Gov. Andrew Cuomo last week filed legislation that would authorize $80 million of Empire State Development Corp. bonding for the State University of New York system and enable SUNY schools to boost tuition rates during the next five years.

The proposed $1.2 billion University Medical Center in New Orleans may be built with the proceeds from bonds supported solely by hospital revenue if federal mortgage insurance is denied for the debt.

Illinois Gov. Pat Quinn last week announced a state partnership with the University of Illinois and a special advisory group to study the feasibility of high-speed rail service between Chicago and Champaign-Urbana and possibly to other parts of the state and neighboring cities.

CHICAGO — Michigan-based Kalamazoo College this week is privately placing $36.4 million of bonds, a move that will raise new money and take all of its bonds off the public market to escape a bond covenant that has grown too ­restrictive.

Sen. Judith Zaffirini, D-Laredo, has filed a bill allowing Texas state colleges and universities to issue a total of $100 million of tuition revenue bonds. She said she wants to be ready to move if Gov. Rick Perry expands the bills that could be considered in the current special legislative session.

DALLAS — The proposed $1.2 billion University Medical Center hospital in New Orleans will require an annual subsidy from Louisiana of $100 million, according to a new financial analysis of the 424-bed facility.