Higher education bonds

WASHINGTON - The Virginia Resources Authority next week will come to market with debt to help finance restoration of the Chesapeake Bay, while the Virginia College Building Authority will sell bonds to pay for various projects.

Brevard College was downgraded by Fitch Ratings last week due to declining enrollment and negative operating margins for the last two fiscal years.

CHICAGO - Indiana's Purdue University is set to enter the market as soon as today with $113 million of student fee revenue bonds.

The Dormitory Authority of the State of New York yesterday announced the selection of a new slate of underwriters and gave preliminary and final approval to sales of $772.6 million of debt at its monthly board meeting.

BRADENTON, Fla. - The Tennessee State School Bond Authority today hopes to price $133.1 million of new and refunding revenue bonds for various colleges - an effort underscored with the launch of a new Web site to attract retail and in-state buyers.

DALLAS - The Maricopa County, Ariz., Community College District will use proceeds from today's competitive sale of $220 million of general obligation bonds to complete more than half the work promised to voters in 2004.

CHICAGO - Buoyed by healthy finances despite a slight cut in state appropriations, Indiana University will enter the market today with $75 million of double-A rated revenue bonds that will help finance its capital improvement plans.

SAN FRANCISCO - After 16 years as an investment banker with Lehman Brothers and successor Barclays Capital, Peter J. Taylor was appointed last week as chief financial officer and executive vice president of the University of California system.

The University of Medicine and Dentistry of New Jersey plans to refinance up to $575 million of debt before April 15, in part to avoid accelerated debt payments on a series of outstanding variable-rate bonds.

North Carolina Gov. Beverly Perdue announced a biennial budget plan on Tuesday that would not authorize any new debt issuance in fiscal 2010 as the state seeks to close a $3.4 billion budget shortfall.

WASHINGTON - South Carolina Gov. Mark Sanford extended his stimulus spat with President Obama yesterday, asking him to allow the state to use $577 million of federal stimulus aid to pay down about $579 million on general obligation bonds for education.

Wisconsin Gov. Jim Doyle announced Monday the inclusion in his new capital budget of $240 million of debt for University of Wisconsin projects in Milwaukee.

The University of Texas Medical Branch at Galveston would be restored to its pre-Hurricane Ike capacity of 550 patient beds under a $713 million recovery plan approved last week by UT regents.

DALLAS — Louisiana Gov. Bobby Jindal said Wednesday he wants to use $98.4 million of the state’s $865.7 million surplus from fiscal 2008 for 21 college construction projects.

The Portland Community College District plans to hit the market next week with a $200 million competitive issue.

Louisiana Gov. Bobby Jindal’s executive budget for fiscal 2010 will include $219 million in cuts for higher education, or more than 15% from appropriations for state schools in fiscal 2009.

CHICAGO - Ohio's University Hospitals Health System plans to enter the market today with $110 million of fixed-rate bonds to finance a series of major projects intended to keep the system competitive in the Cleveland area.

CHICAGO - The Illinois Finance Authority signed off on $650 million of borrowing planned by a handful of nonprofit hospitals and a college, including Northwestern Memorial Hospital, which plans to sell up to $475 million of fixed-rate bonds later this month.

DALLAS — A $217.5 million issue from Texas A&M University leads the way this week in the Texas municipal debt market.

An $800 million sale of general revenue bonds from the University of California Regents will kick off the activity in the primary market and will be part of an estimated $5.15 billion in total negotiated and competitive sales planned for pricing this week, according to Thomson Reuters.