Deal Funds Movie Museum for Oscars
The Academy of Motion Picture Arts and Sciences plans to sell $349 million in revenue bonds next week to fund construction of its film museum.
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Washington State Treasurer James McIntire announced late Wednesday that he is pleased with the results of the state’s general obligation bond sale this week, including its first ever green bonds.  more »
Bondholders would get 40 cents on the dollar for $23 million of bonds outstanding for a detention facility in South Texas that defaulted on its debt, according to a notice on the Municipals Securities Rulemaking Board’s EMMA Web site.  more »
Bond insurer ACA Financial Guaranty Corp. will lay out a restructuring plan next week for holders of $160 million of defaulted debt issued by the Chicago suburb of Lombard for its still struggling hotel and conference center.  more »

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The choice to pay or not pay debt secured by a statutory lien when bankruptcy commences is entirely in the control of the municipal debtor.

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