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NORTH CAROLINA DEPARTMENT OF STATE TREASURER Janet Cowell, Treasurer CALENDAR OF SCHEDULED COMPETITIVE SALES* June 14, 2011 CITY OF WILMINGTON $ 11,700,000 Public Improvement & Refunding, G.O. Bonds June 15, 2011 CITY OF GREENVILLE $ 8,000,000 Public Improvement, G.O. Bonds June 21, 2011 COUNTY OF PENDER $ 17,500,000 Water, BANs July 6, 2011 TOWN OF CARRBORO $ 2,590,000 Sidewalks, BANs ____________ *Subject to change.- BOND REPORTER VOLUME XVIII APRIL 2011 No. 4 NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER Janet Cowell, Treasurer Electronically Published Monthly by North Carolina Department of State Treasurer Albemarle Building 325 North Salisbury Street Raleigh, North Carolina 27603-1385 Janet Cowell, State Treasurer (919) 508-5176 T. Vance Holloman, Deputy Treasurer (919) 807-2351 Sharon Edmundson, Director, Fiscal Management (919) 807-2380 Tim Romocki, Director, Debt Management (919) 807-2360 Dora D. Fazzini, Director, North Carolina Capital Facilities Finance Agency (919) 807-2378 Robert C. Newman, Assistant Director Debt Management (919) 807-2365 Jim Baker, Assistant Director Debt Management (919) 807-2370 No data contained herein is designed or recommended as being suitable for use by any person in reaching a decision with respect to the purchase or sale of any security. Information to support such a decision should be obtained from the issuer or its authorized representatives. TABLE OF CONTENTS VOLUME XVIII No. 4 April 2011 Calendar of Scheduled Competitive Sales 1 Schedule of Negotiated Sales 3 Notice of Redemption 4 State and Local Unit Debt Outstanding Balances 5 PROPOSALS General Obligation Bond 6 Special Obligation Bond 6 North Carolina Medical Care Commission 7 Financing Agreements 8 REPORTS OF RECENT SALES OTHER INFORMATION Bond Buyer’s Index 9 B ON D REP ORT E R NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 3 SCHEDULE OF NEGOTIATED SALES* April 13, 2011 NORTH CAROLINA MEDICAL CARE COMMISSION $ 32,000,000 Retirement Facilities First Mortgage Revenue Bonds, Series 2011 Masonic and Eastern Star Home of North Carolina, Inc. (d/b/a Whitestone a Masonic and Eastern Star Community) Cain Brothers & Company LLC (Senior Manager) Janney Montgomery Scott LLC (Co. Manager) May 4, 2011 NORTH CAROLINA MEDICAL CARE COMMISSION $ 45,000,000 Healthcare Facilities Revenue and Refunding Revenue Bonds, Series 2011 Cleveland County HealthCare System Bank of America Merrill Lynch (Sr.) BB&T Capital Markets (Co. Mgr.) May 11, 2011 CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY $ 150,000,000 Health Care Revenue Bonds, Series 2011 Banc of America Securities LLC (Sr.); J. P. Morgan Chase (Sr.); Wells Fargo Bank, National Association and Citi Global Markets, Inc. May 12, 2011 COUNTY OF DAVIDSON $ 20,000,000 Limited Obligation Refunding & Taxable (QSCB) Bonds, Series 2011A and 2011B, respectively Robert W. Baird & Co. May 18, 2011 CITY OF DURHAM $ 60,000,000 Water and Sewer Utility System Revenue & Refunding Bonds, Series 2011 Citi Global Markets, Inc. (Sr.); Merrill Lynch, Pierce Fenner and Smith Inc. ____________ *Subject to change. NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 4 NOTICE OF REDEMPTION Issuer: County of Harnett, North Carolina, Taxable Enterprise Systems Revenue Bonds, Series 2007B Amount: $515,000 Dated: May 15, 2007 Redemption Date: May 1, 2011 Redemption Price: 100% CUSIP Number: 413329AQ6 Registered Bond: FASBAL_1 Present for payment at: U.S. Bank, Corporate Trust Services, 60 Livingston Avenue, 1st Floor – Bond Drop Window, St. Paul, MN 55107 Issuer: The McDowell County Industrial Facilities and Pollution Control Financing Authority, Recreational Facilities Revenue Bonds, (Corpening YMCA Project), Series 2002 Amount: $275,000 Dated: May 1, 2002 Redemption Date: May 1, 2011 Redemption Price: 100% CUSIP Number: 580332AA2 Registered Bond: FASBAL_1 Present for payment at: U. S. Bank, Corporate Trust Services, 60 Livingston Avenue, 1st Floor – Bond Drop Window, St. Paul, MN 55107 Issuer: North Carolina Capital Facilities Finance Agency, Tax-Exempt Adjustable Mode Capital Facilities Revenue Bonds, (Westchester Academy, Inc. Project), Series 2001 Amount: $200,000 Dated: May 1, 2001 Redemption Date: May 1, 2011 CUSIP Number: 65819GAC2 Redemption Price: 100% Registered Bond: R1_1 Present for payment at: U. S. Bank, Corporate Trust Services, 60 Livingston Avenue, 1st Floor – Bond Drop Window, St. Paul, MN 55107 Issuer: County of Brunswick, North Carolina, General Obligation Bonds, Series 2001 Amount: $38,300,000 Dated: May 18, 2009 Redemption Date: May 1, 2011 CUSIP Numbers: 117061NM9, 117061NN7, 117061NP2, 117061NQ0, 117061NR8, 117061NS6, 117061NT4, 117063NU1, 117061NV9, and 117061NW7 Redemption Price: 100% Present for payment at: U. S. Bank National Association, Hearst Tower, 214 North Tryon Street, 27th Floor, Charlotte, North Carolina 28202, Attention: Corporate Trust Services NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 5 STATE AND LOCAL UNIT DEBT OUTSTANDING BALANCES MARCH 31, 2011 Amount Population Per Capita Local Units’ Debt $ 28,743,692,159 — — State of North Carolina $ 7,109,490,000 9,386,573 $ 757.41 U.S. Public Debt $14,270,114,530,800 311,115,994 $ 45,867.50 NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 6 GENERAL OBLIGATION BOND PROPOSALS APPROVED ON APRIL 5, 2011 District: East Moore Water District Population: 17,978 Amount: $ 5,080,000 Purpose: Water Bond Counsel: Sanford Holshouser LLP Purchaser: USDA Municipality: Town of Broadway Population: 1,105 Amount: $ 700,000 Purpose: Refunding Sale: Private Placement Sale Date: May 3, 2011 Bond Counsel: Sanford Holshouser LLP Purchaser: Branch Banking & Trust Company SPECIAL OBLIGATION BOND APPROVED ON APRIL 5, 2011 Municipality: Town of Nags Head Amount: $ 18,000,000 Purpose: Beach nourishment project entailing the dredging and placement of approximately 4.6 million cubic yards of beach quality sand along approximately 10 miles of shoreline in order to obtain a beach with a measured/quantified sand profile that, when maintained as required/prescribed, will be eligible for Federal Emergency funding for reconstruction in the case of erosion due to a major storm event. Interest Rate: Not to exceed 2.48%, Fixed Final Maturity: Not beyond 2016 Bond Counsel: Robinson, Bradshaw & Hinson, P.A. Financial Advisor: DEC Associates, Inc. Purchaser: RBC Centura Bank NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 7 NORTH CAROLINA MEDICAL CARE COMMISSION APPROVED ON APRIL 5, 2011 Authority: Cleveland County Healthcare System Amount: $ 42,000,000 Purpose: Health Care Facilities Revenue and Refunding Revenue Bonds, Series 2011 Location: Shelby and Kings Mountain Structure: Rated, public offering in $5,000 denominations, scheduled for May 4, 2011, so as to not conflict with any other revenue bonds. Bond ratings are expected to be: S&P: A; Fitch: A+ Term: Approximately 24 years. Interest Rate: Fixed (terms, serials) Final Maturity: Not to exceed December 31, 2035. Bond Counsel: McGuireWoods LLP Underwriter: Bank of America Merrill Lynch (Sr. Mgr.), BB&T Capital Markets (Co-Mgr.) Underwriters’ Counsel: Parker Poe Adams & Bernstein LLP Borrower’s Counsel: Robinson, Bradshaw & Hinson, P.A. Trustee/Registrar: The Bank of New York Mellon Trust Company, N.A. Agreed-Upon- Procedures: LarsonAllen LLP Authority: Lower Cape Fear Hospice, Inorporated Amount: $ 3,500,000 Purpose: Health Care Facilities Revenue Bonds, Series 2011 Term: Approximately 22 years. Interest Rate: Variable rate adjusted monthly, based on 78% of one month LIBOR + 1.3%. Structure: Private placement as a non-bank qualified loan with Branch Banking and Trust Company. The financing is currently anticipated to close on April 13, 2011. Transfer is restricted to qualified financial institutions (QIBs). Final Maturity: Not to exceed June 30, 2033 Bond Counsel: Robinson, Bradshaw & Hinson, P.A. Bank: Branch Banking & Trust Company Bank Counsel: Moore & Van Allen PLLC Borrower’s Counsel: Craige & Fox, PLLC Trustee: Branch Banking and Trust Company Structuring Agent: BB&T Capital Markets NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 8 FINANCING AGREEMENTS APPROVED ON APRIL 5, 2011 Municipality: Town of Beech Mountain Population: 384 Amount: $ 950,000 Purpose: Water Authority: G.S. 160A-20 Installment Purchase – Private Placement Interest Rate: 3.11% Term: 10 years Payment: Semiannual Bank: BB&T Municipality: City of Kinston Population: 22,056 Amount: $ 2,337,500 Purpose: Municipal Buildings (Fire Stations) Interest Rate: 1.38% Authority: G.S. 160A-20 Installment Purchase – Private Placement Term: 18 months Payment: Semiannual interest principal at maturity Bank: RBC County: Edgecombe Population: 56,552 Amount: $ 1,375,000 Purpose: Building Authority: G.S. 160A-20 Installment Purchase – Private Placement Interest Rate: 3.50% Term: 10 years & 12 years Payment: Semiannual Bank: NC Eastern Region Municipality: City of Marion Population: 7,560 Amount: $ 1,102,225 Purpose: Water and Sewer Authority: G.S. 160A-20 Installment Purchase – Private Placement Interest Rate: 3.31% Term: 10 years Payment: Semiannual Bank: BB&T NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 9 BOND BUYER’S INDEX 20 G.O. Bonds 4.45 4.37 4.28 4.38 4.21 3.86 3.84 4.02 4.65 5.08 5.25 4.90 3.80 4.00 4.20 4.40 4.60 4.80 5.00 5.20 5.40 5.60 Apr 8 May 6 Jun 3 Jul 8 Aug 5 Sept 2 Oct 7 Nov 4 Dec 2 Jan 6 Feb 3 Mar 3 DAY Percent Rate 2010 2011 JANET COWELL NORTH CAROLINA STATE TREASURER 325 NORTH SALISBURY STREET RALEIGH, NORTH CAROLINA 27603-1385 The Bond Reporter is now available for download from the World Wide Web: http://www.treasurer.state.nc.us Bulk Rate U.S. Postage Paid Raleigh, N.C. Permit 1998
Object Description
Description
Title | Bond reporter |
Date | 2011-04 |
Description | Volume 18, Number 4, (April 2011) |
Digital Characteristics-A | 127 KB; 9 p. |
Digital Format | application/pdf |
Full Text | NORTH CAROLINA DEPARTMENT OF STATE TREASURER Janet Cowell, Treasurer CALENDAR OF SCHEDULED COMPETITIVE SALES* June 14, 2011 CITY OF WILMINGTON $ 11,700,000 Public Improvement & Refunding, G.O. Bonds June 15, 2011 CITY OF GREENVILLE $ 8,000,000 Public Improvement, G.O. Bonds June 21, 2011 COUNTY OF PENDER $ 17,500,000 Water, BANs July 6, 2011 TOWN OF CARRBORO $ 2,590,000 Sidewalks, BANs ____________ *Subject to change.- BOND REPORTER VOLUME XVIII APRIL 2011 No. 4 NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER Janet Cowell, Treasurer Electronically Published Monthly by North Carolina Department of State Treasurer Albemarle Building 325 North Salisbury Street Raleigh, North Carolina 27603-1385 Janet Cowell, State Treasurer (919) 508-5176 T. Vance Holloman, Deputy Treasurer (919) 807-2351 Sharon Edmundson, Director, Fiscal Management (919) 807-2380 Tim Romocki, Director, Debt Management (919) 807-2360 Dora D. Fazzini, Director, North Carolina Capital Facilities Finance Agency (919) 807-2378 Robert C. Newman, Assistant Director Debt Management (919) 807-2365 Jim Baker, Assistant Director Debt Management (919) 807-2370 No data contained herein is designed or recommended as being suitable for use by any person in reaching a decision with respect to the purchase or sale of any security. Information to support such a decision should be obtained from the issuer or its authorized representatives. TABLE OF CONTENTS VOLUME XVIII No. 4 April 2011 Calendar of Scheduled Competitive Sales 1 Schedule of Negotiated Sales 3 Notice of Redemption 4 State and Local Unit Debt Outstanding Balances 5 PROPOSALS General Obligation Bond 6 Special Obligation Bond 6 North Carolina Medical Care Commission 7 Financing Agreements 8 REPORTS OF RECENT SALES OTHER INFORMATION Bond Buyer’s Index 9 B ON D REP ORT E R NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 3 SCHEDULE OF NEGOTIATED SALES* April 13, 2011 NORTH CAROLINA MEDICAL CARE COMMISSION $ 32,000,000 Retirement Facilities First Mortgage Revenue Bonds, Series 2011 Masonic and Eastern Star Home of North Carolina, Inc. (d/b/a Whitestone a Masonic and Eastern Star Community) Cain Brothers & Company LLC (Senior Manager) Janney Montgomery Scott LLC (Co. Manager) May 4, 2011 NORTH CAROLINA MEDICAL CARE COMMISSION $ 45,000,000 Healthcare Facilities Revenue and Refunding Revenue Bonds, Series 2011 Cleveland County HealthCare System Bank of America Merrill Lynch (Sr.) BB&T Capital Markets (Co. Mgr.) May 11, 2011 CHARLOTTE-MECKLENBURG HOSPITAL AUTHORITY $ 150,000,000 Health Care Revenue Bonds, Series 2011 Banc of America Securities LLC (Sr.); J. P. Morgan Chase (Sr.); Wells Fargo Bank, National Association and Citi Global Markets, Inc. May 12, 2011 COUNTY OF DAVIDSON $ 20,000,000 Limited Obligation Refunding & Taxable (QSCB) Bonds, Series 2011A and 2011B, respectively Robert W. Baird & Co. May 18, 2011 CITY OF DURHAM $ 60,000,000 Water and Sewer Utility System Revenue & Refunding Bonds, Series 2011 Citi Global Markets, Inc. (Sr.); Merrill Lynch, Pierce Fenner and Smith Inc. ____________ *Subject to change. NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 4 NOTICE OF REDEMPTION Issuer: County of Harnett, North Carolina, Taxable Enterprise Systems Revenue Bonds, Series 2007B Amount: $515,000 Dated: May 15, 2007 Redemption Date: May 1, 2011 Redemption Price: 100% CUSIP Number: 413329AQ6 Registered Bond: FASBAL_1 Present for payment at: U.S. Bank, Corporate Trust Services, 60 Livingston Avenue, 1st Floor – Bond Drop Window, St. Paul, MN 55107 Issuer: The McDowell County Industrial Facilities and Pollution Control Financing Authority, Recreational Facilities Revenue Bonds, (Corpening YMCA Project), Series 2002 Amount: $275,000 Dated: May 1, 2002 Redemption Date: May 1, 2011 Redemption Price: 100% CUSIP Number: 580332AA2 Registered Bond: FASBAL_1 Present for payment at: U. S. Bank, Corporate Trust Services, 60 Livingston Avenue, 1st Floor – Bond Drop Window, St. Paul, MN 55107 Issuer: North Carolina Capital Facilities Finance Agency, Tax-Exempt Adjustable Mode Capital Facilities Revenue Bonds, (Westchester Academy, Inc. Project), Series 2001 Amount: $200,000 Dated: May 1, 2001 Redemption Date: May 1, 2011 CUSIP Number: 65819GAC2 Redemption Price: 100% Registered Bond: R1_1 Present for payment at: U. S. Bank, Corporate Trust Services, 60 Livingston Avenue, 1st Floor – Bond Drop Window, St. Paul, MN 55107 Issuer: County of Brunswick, North Carolina, General Obligation Bonds, Series 2001 Amount: $38,300,000 Dated: May 18, 2009 Redemption Date: May 1, 2011 CUSIP Numbers: 117061NM9, 117061NN7, 117061NP2, 117061NQ0, 117061NR8, 117061NS6, 117061NT4, 117063NU1, 117061NV9, and 117061NW7 Redemption Price: 100% Present for payment at: U. S. Bank National Association, Hearst Tower, 214 North Tryon Street, 27th Floor, Charlotte, North Carolina 28202, Attention: Corporate Trust Services NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 5 STATE AND LOCAL UNIT DEBT OUTSTANDING BALANCES MARCH 31, 2011 Amount Population Per Capita Local Units’ Debt $ 28,743,692,159 — — State of North Carolina $ 7,109,490,000 9,386,573 $ 757.41 U.S. Public Debt $14,270,114,530,800 311,115,994 $ 45,867.50 NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 6 GENERAL OBLIGATION BOND PROPOSALS APPROVED ON APRIL 5, 2011 District: East Moore Water District Population: 17,978 Amount: $ 5,080,000 Purpose: Water Bond Counsel: Sanford Holshouser LLP Purchaser: USDA Municipality: Town of Broadway Population: 1,105 Amount: $ 700,000 Purpose: Refunding Sale: Private Placement Sale Date: May 3, 2011 Bond Counsel: Sanford Holshouser LLP Purchaser: Branch Banking & Trust Company SPECIAL OBLIGATION BOND APPROVED ON APRIL 5, 2011 Municipality: Town of Nags Head Amount: $ 18,000,000 Purpose: Beach nourishment project entailing the dredging and placement of approximately 4.6 million cubic yards of beach quality sand along approximately 10 miles of shoreline in order to obtain a beach with a measured/quantified sand profile that, when maintained as required/prescribed, will be eligible for Federal Emergency funding for reconstruction in the case of erosion due to a major storm event. Interest Rate: Not to exceed 2.48%, Fixed Final Maturity: Not beyond 2016 Bond Counsel: Robinson, Bradshaw & Hinson, P.A. Financial Advisor: DEC Associates, Inc. Purchaser: RBC Centura Bank NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 7 NORTH CAROLINA MEDICAL CARE COMMISSION APPROVED ON APRIL 5, 2011 Authority: Cleveland County Healthcare System Amount: $ 42,000,000 Purpose: Health Care Facilities Revenue and Refunding Revenue Bonds, Series 2011 Location: Shelby and Kings Mountain Structure: Rated, public offering in $5,000 denominations, scheduled for May 4, 2011, so as to not conflict with any other revenue bonds. Bond ratings are expected to be: S&P: A; Fitch: A+ Term: Approximately 24 years. Interest Rate: Fixed (terms, serials) Final Maturity: Not to exceed December 31, 2035. Bond Counsel: McGuireWoods LLP Underwriter: Bank of America Merrill Lynch (Sr. Mgr.), BB&T Capital Markets (Co-Mgr.) Underwriters’ Counsel: Parker Poe Adams & Bernstein LLP Borrower’s Counsel: Robinson, Bradshaw & Hinson, P.A. Trustee/Registrar: The Bank of New York Mellon Trust Company, N.A. Agreed-Upon- Procedures: LarsonAllen LLP Authority: Lower Cape Fear Hospice, Inorporated Amount: $ 3,500,000 Purpose: Health Care Facilities Revenue Bonds, Series 2011 Term: Approximately 22 years. Interest Rate: Variable rate adjusted monthly, based on 78% of one month LIBOR + 1.3%. Structure: Private placement as a non-bank qualified loan with Branch Banking and Trust Company. The financing is currently anticipated to close on April 13, 2011. Transfer is restricted to qualified financial institutions (QIBs). Final Maturity: Not to exceed June 30, 2033 Bond Counsel: Robinson, Bradshaw & Hinson, P.A. Bank: Branch Banking & Trust Company Bank Counsel: Moore & Van Allen PLLC Borrower’s Counsel: Craige & Fox, PLLC Trustee: Branch Banking and Trust Company Structuring Agent: BB&T Capital Markets NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 8 FINANCING AGREEMENTS APPROVED ON APRIL 5, 2011 Municipality: Town of Beech Mountain Population: 384 Amount: $ 950,000 Purpose: Water Authority: G.S. 160A-20 Installment Purchase – Private Placement Interest Rate: 3.11% Term: 10 years Payment: Semiannual Bank: BB&T Municipality: City of Kinston Population: 22,056 Amount: $ 2,337,500 Purpose: Municipal Buildings (Fire Stations) Interest Rate: 1.38% Authority: G.S. 160A-20 Installment Purchase – Private Placement Term: 18 months Payment: Semiannual interest principal at maturity Bank: RBC County: Edgecombe Population: 56,552 Amount: $ 1,375,000 Purpose: Building Authority: G.S. 160A-20 Installment Purchase – Private Placement Interest Rate: 3.50% Term: 10 years & 12 years Payment: Semiannual Bank: NC Eastern Region Municipality: City of Marion Population: 7,560 Amount: $ 1,102,225 Purpose: Water and Sewer Authority: G.S. 160A-20 Installment Purchase – Private Placement Interest Rate: 3.31% Term: 10 years Payment: Semiannual Bank: BB&T NORTH CAROLINA DEPARTMENT OF STATE TREASURER BOND REPORTER April 2011 9 BOND BUYER’S INDEX 20 G.O. Bonds 4.45 4.37 4.28 4.38 4.21 3.86 3.84 4.02 4.65 5.08 5.25 4.90 3.80 4.00 4.20 4.40 4.60 4.80 5.00 5.20 5.40 5.60 Apr 8 May 6 Jun 3 Jul 8 Aug 5 Sept 2 Oct 7 Nov 4 Dec 2 Jan 6 Feb 3 Mar 3 DAY Percent Rate 2010 2011 JANET COWELL NORTH CAROLINA STATE TREASURER 325 NORTH SALISBURY STREET RALEIGH, NORTH CAROLINA 27603-1385 The Bond Reporter is now available for download from the World Wide Web: http://www.treasurer.state.nc.us Bulk Rate U.S. Postage Paid Raleigh, N.C. Permit 1998 |
OCLC number | 23123426 |