The Vault

Calendar of recent and upcoming public finance activities and bond sales

March 6

Various Purpose General Obligation Bonds ($2.3B)

The sale included $250,000,000 of new money bonds and $2,041,850,000 of refunding bonds. The sale of the refunding bonds produced debt service savings of approximately $1.03 billion over the next 19 years. The savings from this sale was the most ever from a sale of the state’s General Obligation refunding bonds.

March 12

The Regents of the University of California General Revenue Bonds 2019 Series BB ($114,410,000), 2019 Series BC (Taxable) ($38,650,000) and 2019 Series BD (Taxable) ($500,000,000)

The sale included $153,060,000 of new money bonds (tax-exempt and taxable) to fund various projects for the University of California and $500,000,000 of taxable bonds to pay the University’s General Revenue Bonds, 2013 Series AH (Taxable Fixed Rate Notes) on their maturity date of July 1, 2019 and fund certain working capital purposes.

March 21

Veterans Home Purchase Revenue Bonds ($78.21M)

The bonds will provide funding for the California Department of Veteran Affairs’ (CalVet) Farm and Home Purchase Program.

March 26

Federally Taxable Various Purpose General Obligation Bonds ($842.7M)

The bonds will provide funding for projects/programs under various bond acts and will refund outstanding commercial paper notes.

April 3

State Public Works Board Lease Revenue Bonds ($25M)

The bonds will provide funding for the Board of State and Community Corrections for the Solano Jail Project, also known as the Rourk Vocational Training Center, in the city of Fairfield

April 4

Veterans General Obligation Bonds ($100M)

The bonds will provide funding for the CalVet Farm and Home Purchase Program.

April 11

Various Purpose General Obligation Bonds ($2.2B)

The bonds will provide funding for projects/programs under various bond acts and will refund outstanding commercial paper notes and bonds.

April 16

Department of Water Resources Central Valley Project Water System Revenue Bonds ($340M)

The bonds will refund the department’s outstanding commercial paper notes relating to the State Water Project and the Oroville Dam Spillway Response, Recovery and Restoration Project.

Week of April 22

IBank Clean Water and Drinking Water State Revolving Fund Green Revenue Bonds ($100M)

The bonds will provide funding to the State Water Resources Control Board for the Drinking Water State Revolving Fund program, which provides financial assistance to local governments for safe drinking water projects.

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More information about the upcoming spring bond sales is at BuyCaliforniaBonds.com. News…from the desk of California State Treasurer Fiona Ma is prepared by staff of the State Treasurer’s Office. This newsletter is not intended to be and should not be used for making investment decisions about State of California bonds or notes. The bond issuances described (including the amounts and timing thereof) are subject to change or cancellation based on market conditions or other factors as determined by the State Treasurer. Potential investors always should obtain and read the Official Statement published by the State for each issue of bonds or notes.