NORTH CAROLINA
DEPARTMENT OF STATE TREASURER
Janet Cowell, Treasurer
CALENDAR OF SCHEDULED COMPETITIVE SALES*
September 18, 2012
TOWN OF FUQUAY-VARINA $ 3,500,000
Streets, G.O. Bonds
October 9, 2012
SOUTH CENTRAL WATER & SEWER DISTRICT $ 13,211,000
Water Bond Anticipation Notes
October 16, 2012
EDGECOMBE WATER AND SEWER DISTRICT #4 $ 3,615,000
Water Bond Anticipation Notes
October 23, 2012
TOWN OF HOLLY SPRINGS $ 23,360,000
Parks & Recreation and Refunding, G.O. Bonds
December 11, 2012
FORSYTH COUNTY $ 20,000,000
School, G. O. Bond
December 18, 2012
TOWN OF CARRBORO $ 2,590,000
Sidewalk, G.O. Bonds
January 16, 2013
STATE OF NORTH CAROLINA $ 300,000,000
Limited Obligation Public Improvement Bonds
January 30, 2013
STATE OF NORTH CAROLINA $ 300,000,000
General Obligation Refunding Bonds
February 6, 2013
COUNTY OF MECKLENBURG $ 100,000,000
General Obligation Bonds
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VOLUME XXI OCTOBER 2012 No. 10
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 XXI No. 10
OCTOBER 2012
Calendar of Scheduled Competitive
Sales 1
Schedule of Negotiated Sales 3
State and Local Unit Debt
Outstanding Balances 4
PROPOSALS
General Obligation Bonds 5
Revenue Bonds 6
State Revolving Loans 8
North Carolina Medical Care
Commission 9
North Carolina Capital Facilities
Finance Agency 10
Financing Agreements 11
General Obligation Refunding Bonds 13
Special Obligation Bonds 14
REPORTS OF RECENT SALES
Limited Obligation Bonds 15
Negotiated General Obligation Bonds 17
OTHER INFORMATION
Bond Buyer’s Index 18
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NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 3
SCHEDULE OF NEGOTIATED SALES*
October 10, 2012
BLADEN COUNTY $ 46,000,000
Limited Obligation Bonds
Robert W. Baird & Co.
October 11, 2012
NORTH CAROLINA MEDICAL CARE COMMISSION $ 46,000,000
Southeastern Regional Medical Center
BB&T Capital Markets (Sr. Mgr.)
Bank of America, Merrill Lynch (Co. Mgr.)
October 18, 2012
WILSON COUNTY $ 9,500,000
Limited Obligation Bonds
Robert W. Baird & Co.
October 24, 2012
CITY OF CHARLOTTE $ 25,255,000
Storm Water Fee Revenue Refunding Bonds
Bank of America, Merrill Lynch (Sr. Mgr.)
Wells Fargo Securities (Co-Mgr.)
October 25, 2012
NORTH CAROLINA MEDICAL CARE COMMISSION $ 250,000,000
Healthcare Facilities Revenue Bonds, Series 2012 A & B
Wake Forest Baptist Medical Center
Morgan Stanley and Goldman Sachs (Co-Senior Mgr.)
BB&T (Co-Mgr.
October 29, 2012
BERTIE COUNTY $ 22,000,000
Limited Obligation Bonds (QSCBs) (Taxable and
Stephens, Inc. Tax Exempt)
November 1, 2012
HARNETT COUNTY $ 31,500,000
Limited Obligation Bonds (QSCBs) (Taxable and
Bank of America, Merrill Lynch (Sr. Mgr.) Tax Exempt)
Robert W. Baird & Co. (Co-Mgr.)
*Subject to change. NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 4
STATE AND LOCAL UNIT DEBT OUTSTANDING BALANCES
October 2, 2012
Amount Population Per Capita
Local Units’ Debt $ 28,407,054,526 — —
State of North Carolina $ 6,842,465,000 9,572,454 $ 714.81
U.S. Public Debt $16,066,241,407,386 314,712,837 $ 51,050.48
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 5
GENERAL OBLIGATION BOND PROPOSALS
APPROVED ON OCTOBER 2, 2012
District: Edgecombe County Water & Sewer Dist. #4
Population: 3357
Amount: $ 3,615,000
Purpose: General Obligation Bonds
Bond Counsel: Parker Poe Adams & Bernstein, LLP
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 6
REVENUE BONDS
APPROVED ON OCTOBER 2, 2012
District: Belfast-Patetown Sanitary District
Amount: $ 1,608,000
Purpose: Upgrades to the water system
Structure: RBAN: Principal and interest due at maturity
RB: Approximately level debt service
Final Maturity: RBAN: August 2013
RB: No later than the year 2054
Interest Rate: RBAN: 1.13%
Revenue Bond: 3.25%
Term: RBAN: 10 months; RB: 40 years
Bond Counsel: Womble Carlyle Sandridge & Rice, LLP
Revenue BAN: BB&T
Revenue Bond: USDA Rural Development
Registrar: County Finance Officer
County: Brunswick
Amount: $ 6,400,000
Purpose: Enterprise Systems Revenue Bonds – Series 2012C
Structure: Effective interest amortization producing level annual debt service requirements over the loan term. Interest will be paid semiannually and principal will be paid annually.
Final Maturity: Not beyond 2023
Interest Rate: Not to exceed 1.84%
Term: 11 years
Bond Counsel: Parker Poe Adams & Bernstein, LLP
Bond Purchaser: PNC Bank, N.A
Trustee/Registrar: US Bank, National Association
Placement Agent: Robert W. Baird & Co.
Municipality: City of Charlotte
Amount: $25,255,000
Purpose: Storm Water Fee Revenue Refunding Bonds, Series 2012
Structure: Amortization of the refunding principal will be structured to accelerate cash savings realization into the first year to provide funds for the city to settle some of its Other Post-Employment Benefits obligation or to apply to its capital program. The remaining years’ realizations of savings will be approximately equal. The nominal term of the refunded debt has not been extended.
Term: Approximately 12 years
Interest Rate: Fixed – Effective interest cost not to exceed 3.15%
Final Maturity: Not beyond 2025
Bond Counsel: Parker Poe Adams & Bernstein, LLP
Underwriters: Bank of America Merrill Lynch (Sr. Manager); Wells Fargo Securities (Co-Manager)
Underwriters’
Counsel: McGuireWoods LLP
Registrar: U.S. Bank, N.A. (DTC)
Financial Advisor: DEC Associates, Inc.
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 7
REVENUE BONDS (Continued from page 6)
APPROVED ON OCTOBER 2, 2012
District: Eastern Wayne Sanitary District
Amount: $ 2,164,000
Purpose: Water
Structure: RBAN: Interest due annually; principal at maturity.
RB: Approximately level debt of service
Final Maturity: RBAN: January 15, 2014
RB: No later than the year 2054
Interest Rate: RBAN: 1.07%
Revenue Bond: 3.25%
Term: RBAN: 15 months; RB: 40 years
Bond Counsel: Womble Carlyle Sandridge & Rice, LLP
Revenue BAN: SunTrust Bank
Revenue Bond: USDA Rural Development
Registrar: Finance Officer
District: Southeastern Wayne Sanitary District
Amount: $ 3,529,000
Purpose: Water
Structure: RBAN: Interest due annually; principal at maturity.
RB: Approximately level debt of service
Final Maturity: RBAN: May 15, 2014
RB: No later than the year 2054
Interest Rate: RBAN: 1.11%
Revenue Bond: 3.25%
Term: RBAN: 19 months; RB: 40 years
Bond Counsel: Womble Carlyle Sandridge & Rice, LLP
Revenue BAN: SunTrust Bank
Revenue Bond: USDA Rural Development
Registrar: Finance Officer
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 8
STATE REVOLVING LOANS
APPROVED ON OCTOBER 2, 2012
Municipality: Town of Benson
Amount: $ 290,580
Purpose: WasteWater
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
Other: Cape Fear Utility Authority
Amount: $ 2,425,000
Purpose: Wastewater
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
Other: Cape Fear Utility Authority
Amount: $ 2,250,000
Purpose: Wastewater
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
Municipality: Town of Columbus
Amount: $ 2,750,000
Purpose: Wastewater
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
Other: Onslow Water & Sewer Authority
Amount: $ 6,167,615
Purpose: Water
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
Municipality: City of Statesville
Amount: $ 23,373,357
Purpose: Wastewater
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
Municipality: City of Thomasville
Amount: $ 632,500
Purpose: Wastewater
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
Municipality: City of Thomasville
Amount: $ 2,709,099
Purpose: Wastewater
Term: 20 years
Interest Rate: Not to exceed 4%.
Loan from: State of North Carolina
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 9
NORTH CAROLINA MEDICAL CARE COMMISSION
APPROVED ON OCTOBER 2, 2012
Borrower: Lutheran Services for the Aging, Inc. and Its Affiliates
Amount: $83,000,000
Purpose: Construction and equipping facilities in Hickory and Forsyth County
Location: Various in 10 locations
Interest Rate: Series A: Fixed (terms, serials)
Series B: adjusted monthly
Term: Series A: approximately 30 years
Series B: approximately 27 years
Final Maturity: Series 2012A: not beyond Dec. 31. 2042 Series 2012B: not beyond Dec. 31, 2039
Structure: Approximately level debt service
Bond Counsel: McGuire Woods LLP
Underwriters: Series 2012A: BB&T Capital Markets (Sr. Mgr), Davenport & Company LLC (Co Mgr)
Underwriter’s
Counsel: Robinson Bradshaw & Hinson, P.A.
Borrower’s
Counsel: Young, Morphis, Bach & Taylor, LLP
Feasibility
Consultant: Clifton Larsen Allen, LLP
Series 2012B
Bank Loan Provider: Branch Banking and Trust Company
Bank Loan
Counsel: Moore & Van Allen PLLC
Trustee: The Bank of New York Mellon Company, N.A. (DTC)
Borrower: Wake Forest Baptist Obligated Group
Amount: $496,000,000
Purpose: Refunding outstanding bonds and loan; construction and equipment for Cancer Center Expansion, Clemmons Medical Plaza, Brenner Children’s Emergency Department, Information System, Davie Medical Plaza.
Location: Winston-Salem & Clemmons (Forsyth County) Mocksville (Davie County)
Interest Rate: Series A & B: fixed (serial, term); Series C,D&E: Variable
Term: Series A: approximately 33 years (new money)
Series B,C,&D: 32 years Series E: approximately 30 years (new money)
Final Maturity: Series A: not to exceed December 31, 2045
Series B,C,&D: not to exceed Dec. 31, 2034
Series E: not to exceed Dec. 31, 2042
Underwriters: Series A & B: Morgan Stanley & Co. and Goldman, Sachs & Co. (Co Sr Mgr); BB&T Capital Markets (Co Mgr.)
Series C: Morgan Stanley & Co.
Series D: Goldman Sachs
Underwriters’
Counsel: Bode, Call & Stroupe, LLP
Bond Counsel: McGuire Woods LLP
Bank Loan
Provider: Series E: JP Morgan Chase Bank, N.A.
Bank Counsel: Alston & Bird LLP
Trustee: The Bank of New York Mellon Trust Company, N.A. (DTC)
Agreed Upon
Procedures: Clifton, Larson, Allen, LLP
Financial Advisor: Kaufman Hall & Associates, Inc.
Borrower’s
Counsel: Hawkins Delafield & Wood LLP NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 10
NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY
APPROVED ON OCTOBER 2, 2012
Issuer: Charlotte Preparatory School, Inc.
Amount: $6,500,000
Purpose: Refinancing taxable loan
Location: Charlotte (Mecklenburg County)
Structure: Approximately level debt service
Interest Rate: not to exceed 6.0%
Term: Approximately 20 years.
Final Maturity: Not to exceed December 31, 2032.
Bond Counsel: Parker, Poe, Adams, & Bernstein LLP
Bank Loan
Provider: Wells Fargo Bank, N.A.
Bank Counsel: McGuire Woods LLP
Borrower’s Counsel: Moore & Van Allen PLLC
Swap Advisor: KPM Financial, LLC
Trustee: Wells Fargo Bank, N.A.
Issuer: Duke University
Amount: $627,227,000
Purpose: Commercial Paper Bond Program to finance, refinance, reimburse or advance fund capital projects for construction, addition, renovation for all or a portion of University facilities – residence halls, parking structures, academic/research buildings and other campus infrastructure.
Location: Durham (Durham County) Near Beaufort (Carteret County)
Structure: Approximately level debt service
Interest Rate: not to exceed 6.0%
Term: The Agency’s approval for new money financing will be effective for 18 months from date of issue.
Final Maturity: Not to exceed 30 years from original date of issue.
Bond Counsel: Robinson, Bradshaw & Hinson, P.A.
Dealers: J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC
Dealers’ Counsel: Hunton & Williams LLP
University’s
Counsel: Sutherland Asbill & Brennan, LLP, Ralph McCaughan, Esquire
Issuing and
Paying Agent: The Bank of New York Mellon Trust Company, N.A.
Issuer: Duke School
Amount: $5,700,000
Purpose: Refinance Series 2007 Bonds and construction of campus facilities
Location: Durham (Durham County)
Structure: Annual estimated debt service of $480,000 with no extension of original maturity.
Interest Rate: Variable not to exceed 6.0%
Term: Approximately 15 years
Final Maturity: Not to exceed October 1, 2027
Bond Counsel: Parker Poe Adams & Bernstein LLP
Purchaser: SunTrust Bank
Borrowers’
Counsel: Pope Zeigler, LLC
Bank’s
Counsel: Hunton & Williams LLP
Swap Advisor: Kensington Capital Advisors, LLC
Trustee: The Bank of New York Mellon Trust Company, N.A. NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 11
FINANCING AGREEMENTS
APPROVED ON OCTOBER 2, 2012
Municipality: Town of Wake Forest
Population: 31,086
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Amount: $ 850,000
Purpose: Municipal Building
Interest Rate: 1.53%
Term: 5 years
Payment: Semi-annual
Bank: BB&T
Municipality: City of Wilmington
Population: 106,882
Amount: $ 2,500,000
Purpose: Economic Development
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 3.97%
Term: 15 years
Payment: Semi-annual
Bank: Branch Banking & Trust Company
County: Wilson
Population: 81,452
Amount: $9,700,000
Purpose: Refunding: Water G.O. Bonds
Authority: G.S. 160A-20 Installment Contract Public Placement
Effective Interest
Rate: 4.50%
Final Maturity: not beyond 2042
Special Counsel: Parker Poe Adams & Bernstein LLP
Underwriters: Robert W. Baird & Co.
Underwriter’s
Counsel: Pillsbury Winthrop Shaw Pittman LLP
Registrar/Trustee: Branch Banking & Trust Company (DTC)
Municipality: City of Anson
Population: 26,948
Amount: $ 4,700,000
Purpose: County Building
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 2.37%
Term: 15 years
Payment: Annual
Bank: Anson Bank and Trust
County: Bertie
Population: 21,282
Amount: $ 22,000,000
Purpose: schools
Authority: G.S. 160A-20 Installment Contract Public Offering (Limited Obligation Bonds Taxable with Federal subsidy – Qualified School Construction Bonds; Tax Exempt Bonds)
Average Coupon
(Taxable): Qualified School Construction bonds - 6.50%
Effective Interest
Cost (Tax Exempt): 4.00%
Final Maturity: Approximately 20-24 years, depending on US Treasury
Underwriters: Stephens, Inc.
Underwriters
Counsel: Parker Poe Adams & Bernstein LLP
Trustee: U.S. Bank, National Association (DTC)
Municipality: Town of Candor
Population: 840
Amount: $ 70,000
Purpose: Land
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 2.49%
Term: 5 years
Bank: BB&T
Municipality: Town of Elkin
Population: 4000
Amount: $ 1,142,989
Purpose: Wastewater
Authority: G.S. 160A-20 Installment Purchase – Public Offering
Interest Rate: 2.95%
Term: 17 years
Bank: Southern Community Bank
County: Bladen
Population: 34,928
Amount: $ 10,500,000
Purpose: Refunding: Water District
Authority: G.S. 160A-20 Installment Contract Public Offering
Effective Interest
Rate (Tax Exempt): 4.50%
Final Maturity: not beyond 2041
Special Counsel: Parker Poe Adams & Bernstein LLP
Underwriters: Robert W. Baird & Co.
Underwriters
Counsel: Pillsbury Winthrop Shaw Pittman LLP
Trustee: U.S. Bank National Association (DTC)
County: Chowan
Population: 14,762
Amount: $ 10,000,000
Purpose: Refunding 2008 and 2009 USDA Loans
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 2.19% on the Public Safety Center and 1.83% on the Fire Truck
Term: 11 years + 14 years
Final Maturity: not beyond 2026
Bank: Branch Banking & Trust Company
October 2012 12 NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
FINANCING AGREEMENTS
APPROVED ON OCTOBER 2, 2012 (Continued from page 11)
Municipality: City of Greenville
Population: 85,152
Amount: $ 20,100,000
Purpose: Refunding 2004 and 2009 Installment Purchase Contracts
Authority: G.S. 160A-20 Installment Purchase – Private Placement
TIC Rate: 1.59%
Term: 12.5 years
Final Maturity: 2025
Bond Counsel: Sidley Austin LLP
Bond Purchaser: Bank of America Public Capital Corp.
Purchaser’s
Counsel: Hunton & Williams LLP
Financial Advisor: First Southwest
Trustee/Escrow
Agent: The Bank of New York Mellon
Municipality: City of Greenville
Population: 85,152
Amount: $ 2,654,656
Purpose: Guaranteed Energy Savings Contract
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 2.42%
Term: 16 years
Vendor: Schneider Electric Buildings Americas, Inc.
Lender: JP Morgan Chase Bank, N.A.
County: Harnett
Population: 119,256
Amount: $ 31,500,000
Purpose: Schools
Authority: G.S. 160A-20 Installment Contract Public Offering (Limited Obligation Bonds Taxable with Federal subsidy – Qualified School Construction Bonds; Tax Exempt Bonds)
Average Coupon
(Taxable): Series B: 6.00%
Effective Interest
Rate (Tax Exempt): Series A: 2.50%. County will receive a subsidy from the U.S. Treasury that is the lesser of the rate as calculated using the Treasury methodology or the actual interest rate. The resulting effective rate will be substantially less than otherwise available in the conventional market.
Final Maturity: Approximately 20-24 years, depending on U.S. Treasury limitations related to the QSCB.
Special Counsel: Parker Poe Adams & Bernstein, LLP
Underwriters: Bank of America, Merrill Lynch (Sr. Manager); Robert W. Baird & Co. (Co-Manager)
Underwriters’
Counsel: Hunton & Williams LLPDavenport & Company LLC
Trustee: U.S. Bank, National Association (DTC
County: Jackson
Population: 40,271
Amount: $ 10,000,000
Purpose: School
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 2.79%
Term: 15 years
Payment: Semi-annual
Bank: BB&T
County: Randolph
Population: 145,106
Amount: $ 2,000,000
Purpose: Schools
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 2.42%
Term: 15 years
Payment: Semi-annual
Bank: PNC Bank
Municipality: Town of Topsail Beach
Population: 480
Amount: $ 1,147,086
Purpose: Recreation
Authority: G.S. 160A-20 Installment Purchase – Private Placement
Interest Rate: 2.39%
Term: 8 years
Payment: Semi-annual
Bank: PNC Bank
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012
13
GENERAL OBLIGATION REFUNDING BONDS
APPROVED ON OCTOBER 2, 2012
County: Bladen
Population: 35,243
Amount: $11,500,000
Purpose: General Obligation Refunding Bonds
Interest Rate: Fixed not to exceed 3.5%
Bond Counsel: Parker Poe Adams & Bernstein LLP
Underwriter: R.W. Baird & Co.
Underwriter’s
Counsel: Pillsbury Winthrop Shaw Pittman LLP
Escrow Agent: U.S. Bank, N.A.
Verification Agent: Barthe & Wahrman, PA
District: Bladen County Water District
Population: 35,190
Amount: $10,500,000
Purpose: General Obligation Refunding Bond
Interest Rate: Fixed not to exceed 4% TIC
Bond Counsel: Parker Poe Adams & Bernstein LLP
Purchaser: Bladen County
District: Wilson County Water Districts
Population: 11,532
Amount: $9,800,000
Purpose: General Obligation Refunding Bonds
Interest Rate: Fixed not to exceed 4% TIC
Bond Counsel: Parker Poe Adams & Bernstein LLP
Purchaser: Wilson County
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012
14
SPECIAL OBLIGATION BONDS
APPROVED ON OCTOBER 2, 2012
Municipality: Town of North Topsail Beach
Amount: $3,300,000
Purpose: Special Obligation Bonds Series 2012
Interest Rate: Fixed not to exceed 1.74%
Final Maturity: not beyond 2017
Term: Not longer than 5 years.
Payment: Annual
Purchaser: PNC Bank
Bond Counsel: Parker Poe Adams & Bernstein LLP
Purchaser’s
Counsel: Hunton & Williams LLP
Financial Advisor: DEC Associates, Inc.
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 15
REPORT OF RECENT SALE OF LIMITED OBLIGATION BONDS
APPROVED ON September 11, 2012 & October 2, 2012
County: Bladen
Population: 34,928
Amount: $ 9,280,000
Purpose: Current refunding of General Obligation debt of one water district in the county originally placed with the USDA by purchase of the district’s refunding bonds thus providing them the funds to call the USDA-held debt. The refundings realized a net present value savings of $1,631,645 or 17.18% of the refunded debt.
Rating(s): Moody’s: A1
Dated: October 24, 2012
Underwriter(s): Robert W. Baird & Co.
Sold on: BPA – October 11, 2012
Closing – October 24, 2012
Terms: Public sale $5,000 denominations & multiples
Final Maturity: 2041
Effective interest
Cost: 3.358631%
Trustee/Registrar: U.S. Bank, National Association
Special Counsel: Parker Poe Adams & Bernstein LLP
Underwriter’s
Counsel: Pillsbury Winthrop Shaw Pittman LLP
County: Pender
Population: 53,399
Amount: $ 22,330,00
Purpose: Current refunding of General Obligation debt of one water district in the county originally placed with the USDA by purchase of the district’s refunding bonds thus providing them the funds to call the USDA-held debt. The refundings realized a net present value savings of $2,154,809 or 9.18% of the refunded debt.
Rating(s): Moody’s: Aa3
Dated: October 10, 2012
Underwriter(s): Robert W. Baird & Co. (Sr. Mgr.); BB&T Capital Markets (Co-Mgr.)
Sold on: BPA – September 27, 2012
Closing – October 10, 2012
Terms: Public sale $5,000 denominations & multiples
Final Maturity: 2044
Effective
Interest Cost: 3.767113%
Trustee/Registrar: U.S. Bank, National Association
Special Counsel: Sanford Holshouser LLP
Underwriter’s
Counsel: Parker Poe Adams & Bernstein LLP
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 16
REPORT OF RECENT SALE OF LIMITED OBLIGATION BONDS
APPROVED ON September 11, 2012 & October 2, 2012 (Continued from page 11)
County: Dare
Amount: $ 43,690,000
Purpose: Series C – Financing of a new helicopter and EMS equipment. Series D – Advance refunding of Series 2004 Certificates of Participation (“COPS”), including defeasance of two maturities of non-callable debt, and current refunding of a 2008 placed installment purchase contract. The refunding realizes a Net Present Value savings of $3,599,703 or 9.93% of the refunded debt. The savings were used to terminate interest rate basis swaps and swaptions related to the refunded COPs.
Rating(s): S&P: AA-, Moody’s: Aa3, Fitch: AA-
Dated: October 2, 2012
Underwriter(s): Southwest Securities, Inc. (Sr. Mgr.); BofA Merrill Lynch (Co-Mgr.)
Sold on: BPA – September 20, 2012
Closing – October 2, 2012
Terms: Public sales $5,000 denominations & multiples
Series C Amount: $9,225,000
Final Maturity: April 1, 2025
Effective
Interest Cost: 2.366904%
Series D Amount: $34,465,000
Trustee/Registrar: Bank of New York Mellon Trust Company, N.A. (DTC)
Bond Counsel: Parker Poe Adams & Bernstein LLP
Underwriter’s
Counsel: Pope Zeigler, LLC
NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 17
REPORT OF RECENT SALE OF NEGOTIATED GENERAL OBLIGATION BONDS
APPROVED ON September 11, 2012 & October 2, 2012
Unit: County of Beaufort
Amount: $10,545,000
Purpose: General Obligation Refunding School Bonds, Series 2012
Dated: August 8, 2012
Underwriter(s): Robert W. Baird & Co.
Sold on: August 8, 2012
TIC: 2.3397%
Unit: County of Alamance
Amount: $33,830,000
Purpose: General Obligation Refunding Bonds, Series 2012
Dated: September 12, 2012
Underwriter(s): BB&T Capital Markets and Merrill Lynch, Pierce, Fenner & Smith Inc.
Sold on: August 22, 2012
TIC: 2.1149%NORTH CAROLINA
DEPARTMENT OF STATE TREASURER BOND REPORTER
October 2012 18
BOND BUYER’S INDEX
2012 - 2013 G.O. Bonds
JANET COWELL
NORTH CAROLINA STATE TREASURER
325 NORTH SALISBURY STREET
RALEIGH, NORTH CAROLINA 27603-1385
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http://www.treasurer.state.nc.us
Bulk Rate
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Raleigh, N.C.
Permit 1998