2010A State Personal Income Tax Revenue Bonds (Transportation)

Par Amount:  TBD (To Be Determined)

New Money Generated:   $450,000,000 (estimated)

Closing Date:  Expected August 2010

Dated Date:  TBD

First Maturity:  3/15/11

Final Maturity:  TBD

Interest Payment Dates:  March 15 and September 15, commencing March 15, 2011

Call Provisions:  TBD

TIC (True Interest Cost):  TBD

Purpose of Issue:  To provide the Authority with funds to make grants to reimburse municipalities and other project sponsors throughout the State for highway, bridge and multi-modal capital projects pursuant to established State programs.

Pricing Dates:  Expected August 2010

Insured by:  None

Ratings: 
S&P = AAA   (expected)
Fitch = AA-    (expected)

Bookrunner:  Goldman, Sachs & Co.

Co-coordinating Manager:  Siebert Brandford Shank & Co., LLC

Senior Managers: 
Barclay’s Capital
JPMorgan
Morgan Stanley

Co-Managers:        
Jackson Securities                                      
Janney Montgomery Scott                          
Samuel A. Ramirez
Raymond James & Associates, Inc  
Roosevelt & Cross, Incorporated                                      
Wells Fargo/Wachovia

Bond Counsel:  
Hiscock & Barclay, LLP
Law Offices of Joseph C. Reid

Underwriters’ Counsel:  Hawkins Delafield & Wood, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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