2010B SECOND GENERAL DEDICATED HIGHWAY AND BRIDGE TRUST FUND
FEDERALLY TAXABLE BUILD AMERICA BONDS

Official Statement - Series 2010 A & B (PDF, 280 pages/2.19 Mb)

Par Amount:  $ 276,970,000

New Money Generated:  $ 272,699,562.05

Closing Date:  March 17, 2010

Dated Date:  March 17, 2010 

First Maturity:  04/01/2019

Final Maturity:  04/01/2030

Interest Payment Dates:  April 1 and October 1, commencing October 1, 2010

Call Provisions:  None

TIC (True Interest Cost): 3.705%

BAB Subsidy Provision:  35%

Purpose of Issue:  To provide funds to reimburse the State for certain expenditures made or to be made by the State Department of Transportation in connection with the State’s Multi-Year Highway and Bridge Capital Program.

Security:  The bonds are payable from and secured by revenues of the Dedicated Highway and Bridge Trust Fund held in the joint custody of the Commissioner of Taxation and Finance and the State Comptroller, subject to appropriation by the State Legislature.

Pricing Dates:
Whisper Period- 03/05/2010 – 03/08/2010
Price Guidance- 03/09/2010 @ 10:00 am – 1:00 pm
Launch – 03/09/2010 @ 2:00 pm
Couponing – 03/09/2010 @ 3:30 pm

Insured By:    None

Ratings:
S&P =  AA
Fitch =  AA-

Bookrunner:  RBC Capital Markets

Co- Coordinating Manager:  M.R. Beal & Company

Senior Managers: 
BofA Merrill Lynch
Citi
Jefferies & Company

Co- Managers:
Fidelity Capital Markets
KeyBanc Capital Markets
Loop Capital Markets, LLC
Morgan Keegan
Stifel, Nicolaus & Co.
Stone & Youngberg

Bond Counsel:  Hawkins Delafield & Wood LLP

Underwriters’ Counsel:  Hiscock & Barclay, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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2010A SECOND GENERAL DEDICATED HIGHWAY AND BRIDGE TRUST FUND BONDS

Official Statement - Series 2010 A & B (PDF, 280 pages/2.19 Mb)

Par Amount:  $ 300,105,000

New Money Generated:  $ 327,300,437.95

Closing Date:  March 17, 2010

Dated Date:  March 17, 2010 

First Maturity:  04/01/2011

Final Maturity:  04/01/2026

Interest Payment Dates:  April 1 and October 1, commencing October 1, 2010

Call Provisions:  4/01/2020 at 100%

TIC (True Interest Cost): 3.339%

Purpose of Issue:  To provide funds to reimburse the State for certain expenditures made or to be made by the State Department of Transportation in connection with the State’s Multi-Year Highway and Bridge Capital Program.

Security:  The bonds are payable from and secured by revenues of the Dedicated Highway and Bridge Trust Fund held in the joint custody of the Commissioner of Taxation and Finance and the State Comptroller, subject to appropriation by the State Legislature.

Pricing Dates:
Retail – 03/08/2010 
Institutional – 03/09/2010 

Insured By:    None

Ratings:
S&P =  AA
Fitch =  AA-

Bookrunner:  RBC Capital Markets

Co- Coordinating Manager:  M.R. Beal & Company

Senior Managers: 
BofA Merrill Lynch
Citi
Jefferies & Company

Co- Managers:
Fidelity Capital Markets
KeyBanc Capital Markets
Loop Capital Markets, LLC
Morgan Keegan
Stifel, Nicolaus & Co.
Stone & Youngberg

Bond Counsel:  Hawkins Delafield & Wood LLP

Underwriters’ Counsel:  Hiscock & Barclay, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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2009 Local Highway and Bridge Service Contract Bonds

Official Statement - Series 2009 (PDF, 228 pages/2.72 Mb)

Par Amount:  $529,595,000

New Money Generated:  None- refunding only

Closing Date: October 15, 2009

Dated Date:  October 15, 2009

First Maturity:  04/01/2011

Final Maturity:  04/01/2021

Interest Payment Dates:  April 1 and October 1, commencing April 1, 2010

Call Provisions:  10/01/2019 at 100%

TIC (True Interest Cost):  3.114%

Purpose of Issue:  To provide funds to refund the Authority’s outstanding Local Highway and Bridge Service Contract Bonds, Series 2003C, to pay certain termination payments due with respect to certain interest rate exchange agreements entered into by the Authority in connection with the issuance of the Refunded bonds and to pay certain costs relating to the issuance of the Series 2009 Bonds.

Security:  The Bonds are payable from and secured by certain payments to the Authority by the State of New York under a Service Contract that provides for the payment of amounts sufficient to pay when due, all installments of principal of and interest on, the Series 2009 Bonds.

Pricing Dates: 
Retail - 9/30/2009
Institutional - 10/01/2009
Award - 10/02/2009

Insured by:  None

Ratings: 
S&P = AA-
Fitch = A+

Bookrunner: Citi

Co-Coordinating Manager: Loop Capital Markets, LLC

Senior Managers:  
Jefferies & Company, Inc
Morgan Stanley
RBC Capital Markets

Co-Managers:        
JPMorgan
KeyBanc Capital Markets
Merrill Lynch & Co
Raymond James & Associates, Inc
Roosevelt & Cross, Inc
Sterne, Agee & Leach, Inc.

Bond Counsel:  Hawkins Delafield & Wood LLP

Underwriters’ Counsel:  Hiscock & Barclay, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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2009A BOND ANTICIPATION NOTES

Official Statement - Series 2009A (PDF, 180 pages/3.02 Mb)

Par Amount:  $680,610,000

New Money Generated: $700,000,000

Closing Date:  07/21/2009

Dated Date:   07/21/2009

First Maturity:  07/15/2011

Final Maturity:   07/15/2011

Interest Payment Dates:  January 1 and July 1, commencing January 1, 2010

Call Provisions: none

TIC (True Interest Cost):  2.005%

Purpose: To fund a portion of the cost of the Authority’s Multi- Year Capital Plan and to make a deposit to the Reserve Maintenance Fund, if any.

Pricing Dates:
Retail - 7/08/2009
Institutional – 7/08/2009
Award – 7/09/2009

Insured by: None

Ratings:
Moody's = MIG 1 (Short Term)
S&P = SP-1+ (Short Term)

Bookrunner: Citi

Co-Coordinating Manager: M.R. Beal & Company

Bond Counsel: Hawkins, Delafield & Wood, LLP

Underwriters’ Counsel:  Robinson & Cole, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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2009B Second General Dedicated Highway and Bridge Trust Fund Bonds

Official Statement - Series 2009B (PDF, 192 pages/2.88Mb)

Par Amount:  $300,000,000

New Money Generated:  $306,790,000 

Closing Date:  June 30, 2009

Dated Date:  June 30, 2009

First Maturity:  04/01/2010

Final Maturity:  04/01/2029

Interest Payment Dates:  April 1 and October 1, commencing October 1, 2009

Call Provisions:  04/01/2019 @ 100%

TIC (True Interest Cost):  4.452%

Purpose of Issue:  To provide funds to reimburse the State for certain expenditures made or to be made by the State Department of Transportation in connection with the State’s Multi-Year Highway and Bridge Capital Program.

Security:  The Bonds are payable from and secured by revenues of the Dedicated Highway and Bridge Trust Fund held in the joint custody of the Commissioner of Taxation and Finance and the State Comptroller, subject to appropriation by the State Legislature.

Pricing Dates: 
Retail - 6/17/2009
Institutional - 6/18/2009
Award - 6/19/2009

Insured by:  None

Ratings: 
S&P = AA  
Fitch = AA- 

Bookrunner: Goldman, Sachs & Co.

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

Senior Managers:  
JPMorgan
Merrill Lynch & Co.
Raymond James & Associates

Co-Managers:
Citi
Jackson Securities
KeyBanc Capital Markets
Southwest Securities, Inc.
Sterne, Agee & Leach, Inc.
Wachovia Bank, National Association

Bond Counsel:  Nixon Peabody LLP

Underwriters’ Counsel:  Hiscock & Barclay, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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2009A State Personal Income Tax Revenue Bonds (Transportation)

Official Statement - Series 2009A (PDF, 288 pages/2.75Mb)

Par Amount:  $431,030,000

New Money Generated: $450,000,000 

Closing Date:  6/16/2009

Dated Date:  6/16/2009

First Maturity:  3/15/2010

Final Maturity:  3/15/2029

Interest Payment Dates:  March 15 and September 15, commencing September 15, 2009

Call Provisions:  3/15/2019 @ 100%

TIC (True Interest Cost):  4.322%

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:
Retail - 6/08/2009
Institutional - 6/09/2009
Award - 6/10/2009

Insured by:  None

Ratings: 
S&P = AAA  
Fitch = AA-  

Bookrunner:  RBC Capital Markets

Co-coordinating Manager:  Loop Capital Markets, LLC

Senior Managers: 
Merrill Lynch & Co.
Morgan Stanley
Siebert Brandford Shank & Co., LLC

Co-Managers:        
Goldman, Sachs & Co.       
JPMorgan
M.R. Beal & Company
Roosevelt & Cross, Incorporated
Southwest Securities
Wachovia Bank, National Assoc.

Bond Counsel:  Harris Beach PLLC

Underwriters’ Counsel:  Hiscock & Barclay, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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2009A Second General Dedicated Highway and Bridge Trust Fund Bonds

Official Statement - Series 2009A (PDF, 274 pages/2.58 Mb)

Par Amount:  $237,980,000

New Money Generated: $210,000,000

Closing Date:  3/04/2009

Dated Date:   3/04/2009

First Maturity:  04/01/2010

Final Maturity:   04/01/2029

Interest Payment Dates:  April 1 and October 1, commencing October 1, 2009

Call Provisions:  4/01/2019 @ 100%

TIC (True Interest Cost):  4.304%

Purpose:  To provide funds to reimburse the State for certain expenditures made or to be made by the State Department of Transportation in connection with the State’s Multi-Year Highway and Bridge Capital Program, and to refund certain maturities of the Authority’s outstanding First General Trust Fund Bonds.

Pricing Dates:
Retail - 2/18/2009
Institutional – 2/18/2009
Award – 2/19/2009

Insured by: None

Ratings:
S&P = AA
Fitch = AA-

Bookrunner:  Banc of America Securities LLC

Co-Coordinating Manager:  Jackson Securities

Senior Managers:
Goldman, Sachs & Co.
RBC Capital Markets
Siebert Brandford Shank & Co., LLC

Co-Managers: 
Citi
DEPFA First Albany Securities, LLC
J.P.Morgan
Morgan Stanley
M.R. Beal & Company
Southwest Securities, Inc.

Bond Counsel:  Nixon Peabody LLP

Underwriters’ Counsel:  Hiscock & Barclay, LLP

Financial Advisor:  First Southwest Company

Trustee:  The Bank of New York Mellon

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