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“There have been property transfers that were structured in a way as to avoid reassessment,” said former California Treasurer Bill Lockyer. “That strikes me as abusive.”
A coalition in California is pushing to amend property tax limits created by 1978’s Proposition 13, which remains central to understanding both state and local California credit.
The Puerto Rico Electric Power Authority plans to withhold public release of its business and financial plan, due Monday, so it can been discussed with creditors, a PREPA spokeswoman said.  more »
A federal judge hears arguments Friday on whether the private All Aboard Florida passenger train project can issue $1.75 billion in private activity bonds.  more »
Sixteen municipal market groups are urging House members to co-sponsor a bill that would treat all investment grade and actively traded municipal securities as high-quality liquid assets under a bank liquidity rule.  more »
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The Florida Legislature will attempt to bridge an impasse over low income healthcare funding that has left the state without a fiscal 2016 budget and facing a government shutdown.  more »
Bond Buyer Market Reporter Chip Barnett
Prices of top-rated municipal bonds finished higher on Thursday, traders said, with yields on some maturities falling by as much as two basis points. And a day after Chicago grabbed all the headlines, municipal bond traders saw the rest of the week’s new issuance come to market.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$1,237,230
Pennsylvania
PA
GOs
05/27/15
11am ET
$800,000
Chicago
IL
GOs
05/27/15
9am ET
$493,645
St. Paul
MN
Revenue bonds
05/28/15
9am ET
$460,740
Miami-Dade School
FL
COPs
05/28/15
9am ET
$454,590
Montgomery Co. IDA
PA
Revenue bonds
05/28/15
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.56%
4.48%
5.40%
4.06%
20-Bond
3.81%
3.74%
5.03%
3.29%
11-Bond
3.66%
3.59%
4.75%
3.14%
 
Current
Previous
High*
Low*
BB40 Index
123-06
123-01
132-15
107-01
Average Price
103.91
103.79
110.87
84.90
Yield to Par Call
4.12
4.14
6.35
3.31
Yield to Maturity
4.42
4.42
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$170,070
Orange County
FL
Revenue bonds
05/28/15
11am ET
$45,760
New Mexico FA
NM
Revenue bonds
05/28/15
10:15am ET
$35,000
Rockwood SD R6
MO
GOs
05/28/15
11am ET
$25,000
Oakland County
MI
GOs
05/28/15
11am ET
$19,131
Lancaster CSD
NY
BANs
05/28/15
11am ET

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