Taxable Municipal Guide - Piper Jaffray

September 2010
Utah
State Summary ‐ Utah (UT)
Rank
Population (July 2009) 2,784,572 34
Land Area (Sq Miles) 82,144 12
Population Density (Sq Miles) 33.9 41
2008 Gross State Production ($ Millions) $109,777.00 33
Surplus (Deficit) ($ in Millions) ($1,000.00) 35
Deficit % of Gen Fund Budget 22.10% 31
Deficit % of Gross State Product 0.91% 31
Unemployment Rate 7.20% 14
Utah Rating History
Aaa
Aa1
Aa2
Aa3
A1
A2
A3
Baa1
Baa2
Baa3
1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010
Moody's Rating
S&P Rating
Utah
UT
2009‐2010* Issuance 2009‐2010* Secondary Trading
Tax Exempt Total (U.S.) $480,234 BAB Total $120,584 Secondary Trade Total $369,603
Tax Exempt UT $3,357 BAB UT $1,852 Secondary Trade UT $5,184
Tax Exempt UT (% of U.S.) 0.7% BAB UT (%) 1.5% Secondary Trade UT (%) 1.4%
Tax Exempt UT (Rank) 36 BAB UT (Rank) 19 Secondary Trade UT (Rank) 19
Taxable Total (U.S.) $160,730 QSCB Total $5,684 Secondary Trade Total 81469
Taxable UT $1,940 QSCB UT $4 Secondary Trade UT 1520
Taxable UT (% of U.S.) 1.2% QSCB UT (%) 0.1% Secondary Trade UT (%) 1.9%
Taxable UT (Rank) 22 QSCB UT (Rank) 41 Secondary Trade UT (Rank) 16
>250MM Total $135,969 RZEDB Total $2,476
>250MM UT $679 RZEDB UT $28 $ in U.S. Millions
>250MM UT (%) 0.5% RZEDB UT (%) 1.1% * 2010 Issuance/Trade Data Through 7/31/2010
>250MM UT (Rank) 13 RZEDB UT (Rank) 24
$ in Millions
$800
2009‐2010 Par Amount Issued by Issue Size
$700
$600
$500
$400
$300
$200
$100
$0
250MM
Number
350
300
250
200
150
100
50
0
2009‐2010 Number of Deals by Issue Size
250MM
Rating Distribution
A
Aaa
$ in Millions
$1,500
$1,000
$500
Obligor
Utilities
Sector
Education
Aa
$0
Local
Revenue
State
GO
Transportation
Public Facilities
Healthcare
General
Purpose/Other
Largest Issues by Issue Type ($ in U.S. Millions)
Issuer Maturity Maturity Size Coupon Issue Spread
Moody's/
S&P/Fitch
Award Date CUSIP
Build America Bonds
UTAH ST 7/1/2024 $417.62 4.554 110 Aaa/AAA/AAA 09/16/2009 917542QR6
UTAH TRAN AUTH SALES TAX REV 6/15/2039 $261.45 5.937 185 Aa2/AAA/AA+ 05/13/2009 917565LB7
CENTRAL UTAH WTR CONSERVANCY D 10/1/2040 $116.97 5.700 165 NA/AA+/AA+ 05/26/2010 155675CL3
UTAH ST 7/1/2019 $74.15 4.154 70 Aaa/AAA/AAA 09/16/2009 917542QS4
UTAH ST BLDG OWNERSHIP AUTH LE 5/15/2030 $57.69 5.768 155 Aa1/AA+/NA 08/26/2009 917547UZ2
UTAH COUNTY UTAH TRANSN SALES 12/1/2034 $33.49 6.510 216 NA/AAA/NA 08/18/2009 91739RBA4
SALT LAKE CNTY UTAH MUN BLDG A 12/1/2029 $27.26 5.820 145 Aa1/AA+/AA+ 12/08/2009 795681GM1
UTAH COUNTY UTAH TRANSN SALES 12/1/2029 $24.62 6.360 286 NA/AAA/NA 08/18/2009 91739RAV9
UTAH ST BRD REGENTS REV 8/1/2030 $20.69 6.241 200 Aa2/AA/NA 12/01/2009 91754RQD2
CENTRAL WEBER UTAH SWR IMPT 3/1/2034 $18.85 6.375 225 NA/AAA/AA 05/18/2009 155888AY6
Qualified School Construction Bonds
PIUTE CNTY UTAH SCH DIST 4/15/2027 $4.44 5.710 191 Aaa/NA/NA 04/20/2010 725808AW9
Recovery Zone Bonds
UTAH CNTY UTAH EXCISE TAX REV 12/1/2039 $20.29 7.130 252 NA/AA‐/NA 01/12/2010 917343BF1
UTAH CNTY UTAH EXCISE TAX REV 12/1/2029 $7.91 6.880 227 NA/AA‐/NA 01/12/2010 917343AV7
N/A
60
Piper Jaffray Taxable Municipal Guide