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Bond and COP Sale Results

2016

February 8    Certificates of Participation, Series 2017A

Sale Results

January 10    Various Purpose General Obligation Bonds, Series 2017D

Sale Results

January 10    MVFT GO Bonds, Series 2017E

Sale Results

January 10    Various Purpose General Obligation Refunding Bonds, Series R-2017C

Sale Results

January 10    MVFT GO Refunding Bonds, Series R-2017D

Sale Results

September 7    MVFT GO Bonds (SR 520 Corridor Program – Toll Revenue), Series 2017C

Sale Results

September 7    MVFT GO, Series 2017B

Sale Results

August 9      Certificates of Participation Series 2016C

Sale Results

June 28      Various Purpose General Obligation Bonds, Series 2017A

Sale Results

June 28      General Obligation Bonds, Series 2017T (Taxable)

Sale Results

June 28      Various Purpose General Obligation Refunding Bonds, Series R-2017A

Sale Results

June 28      Motor Vehicle Fuel Tax General Obligation Refunding Bonds, Series R-2017B

Sale Results

March 8      Certificates of Participation Series 2016A

Sale Results

February 9      VP GO Bonds Series 2016C

Sale Results

February 9      MVFT GO Bonds Series 2016D

Sale Results

January 20      VP GO Refunding Bonds Series R-2016B

Sale Results

January 20      MVFT GO Refunding Bonds Series R-2016C

Sale Results

2015

October 6      Certificates of Participation Series 2015C

Sale Results

September 30      VP GO Refunding Bonds Series R-2016A

Sale Results

September 30      MVFT GO Bonds Series 2016B

Sale Results

September 30      GO Bonds Series 2016T

Sale Results

September 30      VP GO Bonds Series 2016A-1

Sale Results

September 30      VP GO Bonds Series 2016A-2 (Green Bonds)

Sale Results

September 9      Certificates of Participation Series 2015B

Sale Results

March 3      Certificates of Participation Series 2015A

Sale Results

February 10      MVFT GO Refunding Bonds Series R-2015F

Sale Results

February 10      VP GO Refunding Bonds Series R-2015G

Sale Results

February 10      MVFT GO Refunding Bonds Series R-2015H

Sale Results

January 21      VP GO Bonds Series 2015B

Sale Results

January 21      MVFT GO Bonds Series 2015C

Sale Results

January 21      GO Bonds Series 2015T-2

Sale Results

January 21     VP GO Refunding Bonds Series R-2015E

Sale Results

2014

October 15      VP GO Refunding Bonds Series R-2015C

$626,765,000 Series R-2015C VP GO Refunding Bonds 8:00 am   Resolution 1161

Bid Par Amount   $626,765,000    
Number of Bids   5    
         
Bid Results:   TIC (%)   Variance
Bank of America Merrill Lynch   2.843874    
J. P. Morgan Securities     2.844120   0.000246
Barclays Capital   2.867331    
Citigroup     2.899109    
Morgan Stanley     3.049818   0.205944
         
Final Results after Resizing:        
Resized-Par Amount     $615,975,000    
Par Amount of Refunded Bonds   $675,840,000    
         
TIC (%)   2.843302    
Final Maturity   July 1, 2032    
Average Life      12.019 years      
         
Date of Delivery    November 6, 2014      
         
Summary of Savings:        
Net Present Value Savings     $95,688,794    
NPV as % of Refunded Bonds     14.16%    
NPV Policy Minimum    5.00%    
         
Nominal Savings     $119,618,222    
    In 2013-15 Biennium     $8,437,023    
    In 2015-17 Biennium     $12,753,050    
         

October 15      MVFT GO Refunding Bonds Series R-2015B

$307,285,000 Series R-2015B MVFT GO Refunding Bonds 8:30 am   Resolution 1162

Bid Par Amount   $307,285,000    
Number of Bids   5    
         
Bid Results: TIC (%) Variance
J. P. Morgan Securities   2.947695    
Bank of America Merrill Lynch     2.961734   0.014039
Citigroup   2.962584    
Barclays Capital     2.982748    
Morgan Stanley    3.089930   0.142235
         
Final Results after Resizing:        
Resized-Par Amount     $301,755,000    
Par Amount of Refunded Bonds   $327,950,000    
         
TIC (%)   2.947098    
Final Maturity   July 1, 2032    
Average Life      13.429 years      
         
Date of Delivery     November 6, 2014      
         
Summary of Savings:        
Net Present Value Savings     $40,941,514    
NPV as % of Refunded Bonds     12.48%    
NPV Policy Minimum    5.00%    
         
Nominal Savings     $53,164,214    
    In 2013-15 Biennium     $3,755,911    
    In 2015-17 Biennium     $4,035,050    
         

August 12      Certificates of Participation Series 2014B

$67,465,000 Series 2014B Certificates of Participation 8:30 am

Bid Par Amount   $67,465,000    
Number of Bids   10    
         
Bid Results:   TIC (%)   Variance
Bank of America Merrill Lynch     2.482944    
Raymond James     2.487203   0.004259
US Bancorp Investments   2.529955    
Morgan Stanley   2.534264    
Barclays Capital.   2.560299    
Citigroup   2.562031    
Hutchinson, Shockey, Erley & Co   2.586317    
Wells Fargo Bank   2.599344    
JP Morgan Securities   2.626972    
Robert W. Baird & Co   2.649777   0.166833
         
Final Results after Resizing:        
Resized-Par Amount     $64,035,000    
TIC (%)   2.499757    
Final Maturity   July 1, 2034    
Average Life     7.074 years      
         
Date of Delivery   August 28, 2014      
         

June 25      VP GO Bonds Series 2015A-1

$207,015,000 Series 2015A-1 VP GO Bonds 8:30 am Resolution 1155

Bid Par Amount   $207,015,000    
Number of Bids   6    
         
Bid Results:   TIC (%)   Variance
Bank of America Merrill Lynch   3.864977    
Wells Fargo Bank    3.865007   0.000030
Morgan Stanley   3.871672    
J. P. Morgan Securities     3.878006    
Citigroup    3.882742    
Barclays Capital     3.887077   0.022100
         
Final Results after Resizing:        
Resized-Par Amount     $205,380,000    
TIC (%)   3.864685    
Final Maturity   August 1, 2039    
Average Life      19.191 years      
         
Date of Delivery     July 9, 2014      
         

June 25      VP GO Bonds Retail Series 2015A-2

$39,000,000 Series 2015A-2 VP GO Bonds Retail   Resolution 1156

Final Results after Resizing:        
Resized-Par Amount     $22,580,000    
TIC (%)   3.166587    
Final Maturity   August 1, 2039    
Average Life      12.614 years      
         
Date of Delivery     July 9, 2014      
         

June 25      GO Bonds Taxable Series 2015T

$85,930,000 Series 2015T GO Bonds Taxable 8:45 am Resolution 1157

Bid Par Amount   $85,930,000    
Number of Bids   9    
         
Bid Results:   TIC (%)   Variance
J. P. Morgan Securities   2.561600    
Wells Fargo Bank     2.607582   0.045982
Citigroup   2.690169    
Raymond James     2.700382    
Barclays Capital     2.711203    
BMO Capital Markets     2.717188    
Morgan Stanley     2.773833    
Robert W. Baird     2.792847    
Bank of America Merrill Lynch    2.804803   0.243203
         
Final Results after Resizing:        
Resized-Par Amount     $85,920,000    
TIC (%)   2.557960    
Final Maturity   August 1, 2025    
Average Life      6.255 years      
         
Date of Delivery    July 9, 2014      
         

June 25      VP GO Refunding Bonds Series R-2015A

$418,975,000 Series R-2015A VP GO Refunding Bonds 7:30 am   Resolution 1158

Bid Par Amount   $418,975,000    
Number of Bids   5    
         
Bid Results:   TIC (%)   Variance
Bank of America Merrill Lynch   2.372996    
J. P. Morgan Securities     2.394628   0.021632
Citigroup   2.401288    
Barclays Capital     2.409656    
Morgan Stanley     2.422557   0.049561
         
Final Results after Resizing:        
Resized-Par Amount     $420,085,000    
Par Amount of Refunded Bonds   $438,500,000    
         
TIC (%)   2.373136    
Final Maturity   July 1, 2026    
Average Life      8.137 years      
         
Date of Delivery    July 9, 2014      
         
Summary of Savings:        
Net Present Value Savings     $30,494,151    
NPV as % of Refunded Bonds     6.95%    
NPV Policy Minimum    5.00%    
         
Nominal Savings     $38,076,751    
    In 2013-15 Biennium     $1,187,429    
    In 2015-17 Biennium     $2,931,100    
         

June 25      MVFT GO Refunding Bonds Series R-2015B

$420,235,000 Series R-2015B MVFT GO Refunding Bonds 8:00 am   Resolution 1159

Bid Par Amount   $420,235,000    
Number of Bids   5    
         
Bid Results: TIC (%) Variance
Citigroup   2.354692    
Bank of America Merrill Lynch     2.354918   0.000226
Morgan Stanley   2.369870    
Barclays Capital     2.378567    
J. P. Morgan Securities    2.379186   0.024494
         
Final Results after Resizing:        
Resized-Par Amount     $420,545,000    
Par Amount of Refunded Bonds   $438,500,000    
         
TIC (%)   2.353614    
Final Maturity   July 1, 2026    
Average Life      7.909 years      
         
Date of Delivery     July 9, 2014      
         
Summary of Savings:        
Net Present Value Savings     $29,761,949    
NPV as % of Refunded Bonds     6.71%    
NPV Policy Minimum    5.00%    
         
Nominal Savings     $37,789,876    
    In 2013-15 Biennium     $1,127,433    
    In 2015-17 Biennium     $2,726,800    
         

February 25      Certificates of Participation Series 2014A

$21,410,000 Series 2014A Certificates of Participation 8:30 am

Bid Par Amount   $21,410,000    
Number of Bids   11    
         
Bid Results: TIC (%) Variance
Morgan Stanley     1.209260    
Citigroup     1.248559   0.039299
Raymond James   1.290830    
Key Banc Capital Markets    1.347355    
Robert W. Baird & Co.   1.371307    
FTN Financial Capital Markets   1.378907    
J.P. Morgan   1.389081    
Wells Fargo Bank   1.403108    
Bank of America Merrill Lynch   1.403785    
Hutchinson, Shockey, Erley & Co.   1.410352    
US Bancorp Investments   1.449563   0.240303
         
Final Results after Resizing:        
Resized-Par Amount     $21,095,000    
TIC (%)   1.210985    
Final Maturity   July 1, 2026    
Average Life      3.805 years      
         
Date of Delivery   March 19, 2014      
         

January 22      VP GO Bonds Series 2014D

$348,345,000 Series 2014D VP GO Bonds 7:30 am Resolution 1151

Bid Par Amount   $348,345,000    
Number of Bids   6    
         
Bid Results: TIC (%) Variance
J. P. Morgan Securities   4.036387    
Bank of America Merrill Lynch     4.057506   0.021119
Morgan Stanley   4.062054    
Barclays Capital     4.063963    
Wells Fargo Bank     4.076785    
Citigroup     4.090095   0.053707
         
Final Results after Resizing:        
Resized-Par Amount     $344,940,000    
TIC (%)   4.036313    
Final Maturity   February 1, 2039    
Average Life      17.952 years      
         
Date of Delivery     February 5, 2014      
         

January 22      MVFT GO Bonds Series 2014E

$269,270,000 Series 2014E MVFT GO Bonds 8:00 am Resolution 1152

Bid Par Amount   $269,270,000    
Number of Bids   6    
         
Bid Results: TIC (%) Variance
Morgan Stanley     3.847792    
J.P. Morgan    3.860214   0.012422
Bank of America Merrill Lynch   3.861603    
Barclays Capital     3.870673    
Wells Fargo Bank   3.871054    
Citigroup   3.873464   0.025673
         
Final Results after Resizing:        
Resized-Par Amount     $265,710,000    
TIC (%)   3.849861    
Final Maturity   February 1, 2039    
Average Life      15.482 years      
         
Date of Delivery     February 5, 2014      
         

January 22      GO Bonds Taxable Series 2014T-2

$88,115,000 Series 2014T-2 GO Bonds Taxable 8:30 am Resolution 1153

Bid Par Amount   $88,115,000    
Number of Bids   11    
         
Bid Results: TIC (%) Variance
Wells Fargo Bank     2.058007    
Raymond James     2.071563   0.013600
BMO Capitol Markets   2.081924    
Citigroup    2.121202    
Robert W. Baird & Co.   2.139039    
Jeffries   2.183804    
J.P. Morgan   2.198541    
Barclays Capital   2.245195    
BOSC, Inc.   2.274373    
Bank of America Merrill Lynch   2.340061    
Morgan Stanley   2.461070   0.403100
         
Final Results after Resizing:        
Resized-Par Amount     $87,880,000    
TIC (%)   2.053712%    
Final Maturity   February 1, 2022    
Average Life      4.298 years      
         
Date of Delivery   February 5, 2014      
         



Historical sale results are available here.