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San Diego Water Upgraded to Triple-A
The San Diego County Water Authority’s senior lien credit rating was upgraded to AAA by S&P Global Ratings.
A new privately operated desalination plant in Carlsbad, Calif. is providing water to the San Diego County Water Authority.
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California’s high-speed rail project appears to have survived one legal challenge, as Kings County, Calif. will not further contest the legality of the bonds supporting the train.  more »
The San Diego mayor’s office said it has saved $300 million in aggregate cash flow savings on refundings it has conducted over the past 12 months.  more »
The Internal Revenue Service is auditing $105.48 million of passenger facility charge revenue bonds issued by Clark County, Nev., in 2007 to finance capital improvements at McCarran International Airport.  more »
The advantages a hot municipal bond market creates for issuers were on display this week when the Los Angeles County Metropolitan Transportation Authority priced a refunding deal.  more »
Four years after passing a bond, Pasco voters will again be asked to help their school district build new and expanded schools, this time to the tune of at least $64 million.  more »
The California Public Employees' Retirement System's purchase of an equity stake in the Indiana Toll Road earlier this month is part of a growing trend of public pension funds investing more directly in large infrastructure assets.  more »
Oregon panel says state needs an additional $964 million per year to maintain and protect its existing transportation infrastructure.  more »
Financial advisory firm KNN Public Finance has hired public finance banker Melissa Shick as a director to help with the growth the firm expects in new money issuance as California state and local issuers take aim at needed infrastructure improvements.  more »
SAN YSIDRO -- A county grand jury investigation of the San Ysidro School District, which in recent years has teetered on the brink of bankruptcy and seen a former superintendent go to prison on a federal corruption charge, has found financial mismanagement that stretches back decades.  more »
RICHMOND -- A nearly million-dollar forensic audit of the West Contra Costa Unified School District construction bond program is on track to produce a draft report by Aug. 30, but has hit a couple of snags in securing vendor cooperation -- and is itself the victim of potential cost overruns, auditors said.  more »
March is historically the most successful date for Idaho school construction bonds, an attorney who specializes in public education ballot measures told the Lewiston School Board Monday.  more »
California Gov. Jerry Brown's recent executive order about state water restrictions is a credit positive for local water agencies, according to Moody’s Investors Service.  more »
The placement of two Vallejo school bonds on the November ballot became more of a reality last week.  more »

Daniel Berger, Senior Market Strategist at Municipal Market Data, talks about the recent rally in municipal bonds which has brought long-term yields down to record lows. He talks about continuing demand from retail investors in light of the upcoming Summer redemption season and he discusses the allure that the American tax-exempt market has for overseas buyers. He outlines the recent spread compression in quality credits and also looks at some of the market's outliers -- Puerto Rico and Chicago.

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