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Image: Morris County Public Information Office
Solar energy projects such as these in Morris County, N.J., were expected to generate enough revenue to pay off the debt issued to build them, but those plans haven't panned out.
A New Jersey solar energy project that was envisioned as a national model for public-private partnerships has been clouded with legal woes, but recent settlements could bring it back into the sunlight.
The Internal Revenue Service has advised several community development districts in Florida that they may not be political subdivisions that can issue tax-exempt bonds if they do not have public electors within five years of their bonds' issuance, a bond lawyer said.  more »
An airline group asks Congress to oppose a proposal by airports for a 90% boost in a federal passenger fee that funds capital projects.  more »
The Securities and Exchange Commission's enforcement division is contacting dealers who reported their own possible violations of securities laws under a voluntary enforcement program initiated last year, giving them two weeks to decide if they still want to take advantage of the lenient settlement terms.  more »
The University of California Regents are pricing $2.8 billion of combined new money and refunding bonds where municipal bond market observers predict ready demand.  more »
Bond Buyer Markets Reporter Chip Barnett
Prices of top-rated municipal bonds ended substantially weaker on Friday, traders said, after the release of a strong employment report that hinted at a mid-year interest rate hike by the Federal Reserve. Meanwhile, municipal volume continued to surge, with $12.4 billion of new bonds set to be priced in the upcoming week, after a hefty new issue slate came to market in the prior week.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$1,900,000
California
CA
GOs
03/04/15
9am ET
$518,000
Maryland
MD
GOs
03/04/15
11am ET
$495,000
Los Angeles DWP
CA
Revenue bonds
03/05/15
9am ET
$403,995
Maryland
MD
GOs
03/04/15
10:45am ET
$341,775
Arizona State U.
AZ
Revenue bonds
03/04/15
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.32%
4.28%
5.40%
4.06%
20-Bond
3.68%
3.62%
5.03%
3.29%
11-Bond
3.53%
3.47%
4.75%
3.14%
 
Current
Previous
High*
Low*
BB40 Index
125-25
125-27
132-15
107-01
Average Price
107.03
107.07
110.87
84.90
Yield to Par Call
3.76
3.76
6.35
3.31
Yield to Maturity
4.28
4.28
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
1,975
Ashburnham
MA
RANs
03/06/15
11am ET

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The dialogue over tax reform provides an opening for state and local governments to educate members of Congress and their staff about municipal bonds, how they work and what they do.

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