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Struggling Illinois local governments should have the option of municipal bankruptcy, one mayor told lawmakers during the first airing of legislation that would add Chapter 9 to the state's statutes.  more »
The Internal Revenue Service has determined that multifamily housing revenue bonds issued by the Tulsa County Industrial Authority in 2003 are taxable, but it is unclear to what extent bondholders will be affected by the Service's conclusion.  more »
Indian River County, Fla., Tuesday filed a lawsuit asking a federal judge to block the issuance of $1.75 billion in private activity bonds for the All Aboard Florida private train project.  more »
Bond Buyer Markets Reporters Chip Barnett and Aaron Weitzman
Prices of top-rated municipal bonds ended higher, traders said, with yields on some maturities falling by three basis points. Meanwhile in the primary market, two large deals from California issuers led the slate of new bond issues that traders said met a good reception.  more »
Amount
Issuer
St
Description
Sale Date
Sale Time
$765,000
Calif Dept of Wtr Res
CA
Revs
04/01/15
9am ET
$585,000
Illinois Mun Elec Agy
IL
Revs
03/31/15
9am ET
$500,000
Univ of Calif Regents
CA
Revs
04/01/15
9am ET
$447,770
NYC Mun Wtr Fin Auth
NY
Revs
03/30/15
9am ET
$260,000
Univ of Kansas Hosp Auth
KS
Revs
03/31/15
9am ET
Index
Current
Previous
High
Low
Rev. Bond
4.17%
4.19%
5.40%
4.06%
20-Bond
3.52%
3.52%
5.03%
3.29%
11-Bond
3.37%
3.37%
4.75%
3.14%
 
Current
Previous
High*
Low*
BB40 Index
126-29
126-25
132-15
107-01
Average Price
107.73
107.63
110.87
84.90
Yield to Par Call
3.64
3.65
6.35
3.31
Yield to Maturity
4.21
4.22
5.34
3.94

(* for calendar year)

Amount
Issuer
St
Description
Sale Date
Sale Time
$145,445
Texas A&M U.
TX
Revenue bonds
04/02/15
11:30am ET
$143,555
Texas A&M U.
TX
Revenue bonds
04/02/15
11am ET
$22,830
Norwood
MA
GOs
04/02/15
11am ET
$12,365
Warren Co. SDFC
KY
Revenue bonds
04/02/15
1pm ET
$8,145
Bullitt Co. SDFC
KY
Revenue bonds
04/01/15
11am ET

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Although defaults have not yet occurred, it is not too early for holders to take a hard look at the applicable bond documents to evaluate their rights and leverage in the restructurings or refinancings that have begun and which may proliferate in the years ahead.

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