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“RIHEBC is committed to supporting our state’s health and educational institutions,” said executive director Robert Donovan.
Fifty years ago, Rhode Island Health and Educational Building Corp. issued a $1.6 million bond for a now-defunct biblical school. Since then it has handled roughly $7.4 billion in debt.
An FBI corruption case is creating political discord in Puerto Rico, as one of two leading gubernatorial candidates asked for the President of Puerto Rico House of Representatives to resign.  more »
House Judiciary Committee chairman Rep. Robert Goodlatte has floated a draft online sales tax bill that would create a “hybrid origin-sourcing” tax framework for sales of products over the Internet.  more »
While the Internal Revenue Service’s revenue procedure on management contracts received widespread praise from many bond and tax lawyers who felt it would help facilitate bond financing in public-private partnerships, several attorneys also had questions or concerns about it.  more »
In contrast to the calendar of the past week, which featured a variety attention-getting deals, the upcoming calendar features one deal in particular that will be the talk of the market – California’s $2.7 billion of general obligation bonds. The deal marks the second time this year that the Golden State has issued bonds in that amount.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$481,965
Brooklyn ALDC
NY
Revenue bonds
08/16/16
9am ET
$455,440
Los Angeles USD
CA
GOs
08/18/16
11am ET
$421,525
Honolulu
HI
Revenue bonds
08/17/16
9am ET
$243,375
New Jersey HCFFA
NJ
Revenue bonds
08/16/16
9am ET
$160,455
Grapevine-Colleyville ISD
TXL
GOs
08/18/16
9am ET
Index
Current
Previous
High
Low
Rev. Bond
3.06%
3.06%
5.40%
2.98%
20-Bond
2.84%
2.84%
5.03%
2.80%
11-Bond
2.42%
2.42%
4.75%
2.39%
 
Current
Previous
High*
Low*
BB40 Index
134-13
134-12
136-01
107-01
Average Price
112.67
112.65
114.72
84.90
Yield to Par Call
2.68
2.69
6.35
2.52
Yield to Maturity
3.74
3.74
5.34
3.71

(* for calendar year)

There are no competitive bond sales scheduled over $1 million for Aug. 26, 2016.



Dean Fuleihan, New York City’s Director of Management and Budget, sits down with The Bond Buyer’s Senior Marker Reporter Chip Barnett to talk about the city’s fiscal 2017 budget. Fuleihan also discusses the city’s aging infrastructure and what it takes to get the right balance between maintaining the old and building the new.

While there is something wild about callable premium bonds, fortunately there may be a way to tame them.

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