Higher education bonds

Massachusetts officials are working on what could be the largest fixed-rate student loan bond deal this year, a $400 million transaction to help finance private undergraduate and graduate loans for the upcoming school year.

A student housing organization does not qualify for tax-exempt status and cannot finance projects with tax-exempt bonds because it fails to meet several charitable criteria, the Internal Revenue Service concluded in a private-letter ruling released last week.

Standard & Poor’s last week said Iowa State University’s credit would not suffer due to the devastating floods that hit the Midwest in June even as the university has reported preliminary costs of $232 million associated with flood-related repairs.

DALLAS - Plans to transform fast-growing Williamson County, Tex., into a hub of medical research and training gained momentum yesterday as Texas Tech University agreed to join a new education center near Taylor.

The recent article ("Three Large Lenders Out of FFEL," Aug. 13) paints an incomplete picture of the department's loan purchase programs and the current student loan market overall.

DALLAS -Shreveport, La., will refund variable-rate bonds issued in 2000 to finance the expansion of a football stadium with next week's negotiated sale of $35 million of fixed-rate debt.

Massachusetts officials are moving closer to selling a $400 million new-money, student loan bond sale, with hopes that the deal will gain as much investor interest as a recent New Jersey higher education loan transaction.

CHICAGO - Indiana would privatize its state lottery or issue bonds backed by future lottery growth to fund a new college scholarship fund under a proposal set forth this week by Gov. Mitch Daniels.

DALLAS — As it prepares to bring a two-tranche, $35.9 million deal to the competitive market Monday, College Station received an upgrade of its underlying credit to AA from AA-minus by Standard & Poor’s.

WASHINGTON - Three of the largest nonprofit student loan lenders have temporarily withdrawn from lending in the Federal Family Education Loan program despite a high-profile plan by the Department of Education designed to assist non-bank lenders in financing student loans.

DALLAS - Baylor College of Medicine in Texas will get closer to eliminating its outstanding auction-rate debt and all outstanding debt enhanced with insurance from Ambac Assurance Co. with next week's planned negotiated sale of $255 million of hospital revenue refunding bonds by the Harris County Cultural Education Facilities Finance Corp.

ATLANTA - Investors this week will have the chance to pick up some Georgia paper from an issuer that hasn't been in the market for more than 10 years when Life University in Marietta issues about $70 million of below investment-grade debt through a conduit.

Massachusetts officials would like to boost investor interest on an upcoming $400 million Massachusetts Educational Financing Authority new-money bond deal, yet differ on how best the state should help the authority with the private-activity bond transaction.

Winston-Salem voters will vote on a $62.15 million bond referendum in November as a result of the Forsyth County Board of Commissioners approving the measure last week.

Roosevelt University has named Miroslava Mejia Krug — most recently the chief financial officer for the Chicago Housing Authority — as its new CFO and senior vice president for finance and administration.

SAN FRANCISCO - The Los Angeles Unified School District last week placed a $7 billion general obligation bond measure on the Nov. 4 ballot.

DALLAS - The Lone Star College System will issue the first tranche of a $420 million authorization approved by voters in May with next week's negotiated sale of $150 million of limited-tax general obligation bonds.

DALLAS - The Austin Community College District takes a major step toward its regional expansion plan this week by offering $120 million of lease revenue bonds for construction of its new Round Rock campus.

DALLAS — This week’s Texas deals feature an educational theme, as public schools and universities move to the head of the class.

DALLAS - The University of Texas System through the forward sale of oil and gas reserves will add $1 billion to the Permanent University Fund that backs bonds for UT and Texas A&M University campuses.