Bond reporter

              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
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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.
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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
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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
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