Indiana Launches New P3 Solicitation for Interstate Highway Project
Indiana Thursday put out a request for qualifications seeking developers interested in a $400 million project to rebuild a section of I-69, the latest in a series of P3s that state officials say make them a leader in the sector.
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Fresh from a new-money Build Illinois sales tax-backed sale, Illinois plans to return to the market early in June to refund $600 million in its largest issue ever under the 28-year-old bond program.  more »
A five-member Michigan review team Thursday said it found a fiscal emergency in the long-troubled Detroit suburb of Hamtramck, which could lead to an emergency manager.  more »
The Rockefeller Foundation selected eight cities to participate in the RE.Invest Initiative, a national effort to support sustainable infrastructure that includes financial advice on P3 options.  more »
The Chicago Board of Education voted to shutter 49 schools in a move defended by the school system and board members as needed to right-size a district straining with a $1 billion budget deficit.  more »
A one-time infusion of higher-than-expected income tax revenues helped Illinois make a $2.7 billion dent in its chronic unpaid bill backlog but the the number is expected to again climb in the coming months.  more »
An investor with a stake in $39 million of defaulted bonds issued for a failed artificial sweetener plant in Missouri dropped the underwriter's counsel from litigation and may be zeroing in on underwriter Morgan Keegan & Co.  more »
Michigan Gov. Rick Snyder and GOP leaders have reached an agreement on spending targets for 2014, but Snyder said the $50 billion plan fails to address some long-term issues, including Medicaid and road funding.  more »
Minnesota lawmakers wrapped up their work on a new two-year $38.3 budget late Monday approving a tax package that generates $2.1 billion in new revenue and provides aid for the Mayo Clinic's proposed makeover of its hometown.  more »
The fiscal condition of Chicago, Cook County, and five other local government pension systems deteriorated in 2011 by $4.6 billion, bringing their collective unfunded obligations to $32 billion.  more »
Top-rated Columbus Ohio will ask voters to approve $800M of new general obligation bonds in November to finance a five-year capital plan.  more »
A proposed merger between Beaumont Health System and Henry Ford Health System was cancelled Tuesday.  more »
Wisconsin Gov. Scott Walker reduced a proposed funding increase for the University of Wisconsin system in his proposed two-year budget by $94 million and recommended a tuition freeze.  more »
Cincinnati Mayor Mark Mallory reduced the number of layoffs in his proposed 2014-2015 budget, as the city continues to wait a ruling on the lawsuit that has delayed a plan to privatize its parking system.  more »
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Opinion

Before the financial crisis of 2008-09, it would have been significant news if yields on municipal bonds had exceeded those on Treasury securities at any maturity, and that occurrence likely would have attracted a variety of investors seeking to take advantage of the relative-value opportunity.

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