Higher education bonds

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.

The New Jersey Educational Facilities Authority yesterday approved nearly $740 million of borrowing for higher educational institutions, including a plan to restructure roughly $130 million of University of Medicine and Dentistry of New Jersey debt insured, in part, by Ambac Assurance Corp. and MBIA Insurance Corp.

A backlog of delayed state matching funds for endowed chairs at Oklahoma state schools that was estimated at $125 million in May has grown to more than $360 million at the latest count.

DALLAS - The Dallas County Community College District is planning to price $220 million of limited general obligation bonds representing the second issue from a 2004 authorization of $450 million.

New York Gov. David Paterson yesterday proposed selling tax-exempt bonds to finance a low-interest student loan program.

While reiterating its current stable outlook for the U.S. Higher Education sector, Moody’s Investors Service cautions that conditions have worsened and that its rating outlook could turn negative by 2009, according to a mid-year outlook issued to reflect changing conditions.

The Empire State Development Corp. yesterday approved the general project plan for a controversial $6.28 billion expansion of Columbia University that could use tax-exempt bond financing issued through the Dormitory Authority of the State of New York.

A plan by Akron Mayor Mark Plusquellic to sell or lease the city’s sewer system to fund a scholarship program for local high school graduates hit a possible roadblock last week when opponents presented a petition containing more than 5,000 signatures asking that voters be allowed to weigh in on the action.

IBM Corp. will invest $1.5 billion in nanotechnology research and development in New York's capital region, Gov. David Paterson announced yesterday. The state will pitch in $140 million in economic development grants.

CHICAGO - The Wisconsin Health and Educational Facilities Authority yesterday approved three transactions tied to borrowers' efforts to exit the auction-rate market. They include a $152 million deal from Children's Hospital and Health System of Wisconsin Inc. that will mark the second use in the tax-exempt market of a floating-rate structure promoted by Goldman, Sachs & Co.

DALLAS - Texas' oldest university system - Texas State University - is preparing to market $164 million of revenue bonds for construction projects on the flagship campus in San Marcos and at Sam Houston State University in Huntsville, as well as expansion of the North Austin campus.