Massachusetts

Massachusetts will head to market in the next two weeks with $538.8 million of SIFMA-index general obligation debt that will refinance Series 2005A variable-rate bonds.

The Massachusetts Department of Transportation plans to refinance by mid-April up to $2.27 billion of debt that helped fund Boston’s Central Artery Project, known as the Big Dig.

The Massachusetts Port Authority plans to issue $110 million of private-activity bonds before the end of 2010 to take advantage of the federal government’s temporary suspension of the alternate minimum tax for such deals.

Massachusetts Gov. Deval Patrick yesterday filed new legislation for tax credits and borrowing initiatives for small and medium-sized businesses to help promote job growth.

Massachusetts Gov. Deval Patrick yesterday released a $28.2 billion fiscal 2011 budget proposal that includes a plan to restructure up to $300 million of general obligation debt that otherwise would come due in fiscal 2011.

Massachusetts Gov. Deval Patrick yesterday announced that the state anticipates receiving $19.05 billion of tax revenue in fiscal 2011, about $590 million more than officials estimate collecting in the current fiscal year.

Construction of Linden Ponds, an ­Erickson Retirement Communities development in the Boston area, will resume late next year, and investors in the project’s $156 million of tax-exempt bonds will be paid, Erickson executive staff told bondholders and market participants last week in an investor call.

Pushing principal and interest costs out to future years has weakened the Massachusetts Bay Transportation Authority’s balance sheet, with an independent report released yesterday estimating the mass transit agency faces a cumulative structural deficit of $1.19 billion by fiscal 2014.

Massachusetts Gov. Deval Patrick Friday announced five members to serve on the board of the state's new transportation bonding authority, the Massachusetts Department of Transportation.

Massachusetts Gov. Deval Patrick last week released additional details of how he plans to close an estimated $600 million revenue shortfall in the fiscal 2010 budget, opting to retain local aid allocations totaling $936 million.

Massachusetts Wednesday announced that it has resolved a termination event on the fifth and final Massachusetts Turnpike Authority swap with UBS Securities LLC as counterparty.

The Massachusetts Turnpike Authority is seeking investment banking services, as the agency could refinance fixed-rate bonds associated with $800 million of floating-to-fixed-rate swaps.

Massachusetts Gov. Deval Patrick last week signed an executive order to implement the state’s $556.6 million recovery zone bond program, with Boston and local governments in Middlesex County receiving the largest distribution of bonds.

The Massachusetts Bay Transportation Authority plans tomorrow to sell its first Build America Bond deal, set for $213.8 million, after offering $39.3 million of traditional tax-exempt debt to retail investors today.

Massachusetts Gov. Deval Patrick Thursday said fiscal 2010 tax revenue will come in $600 million below prior estimates, and that he would potentially eliminate nearly 2,000 positions and implement spending reductions to offset the state’s underperforming tax receipts.

Massachusetts Gov. Deval Patrick Tuesday appointed Jeffrey Mullan as secretary and chief executive officer of the new Massachusetts Department of Transportation, which will begin overseeing most of the state’s surface transportation systems on Nov. 1.

Massachusetts Secretary of Transportation Jim Aloisi announced Friday that he will step down from his post by Nov. 1, the same time that a new bonding authority, the Massachusetts Department of Transportation, will begin overseeing most surface transportation systems throughout the state.

The deadline has been extended to negotiate a settlement on a $207.6 million swap agreement between UBS Securities LLC and the Massachusetts Turnpike Authority as it seeks to avoid paying a swap termination fee to the investment bank.

Massachusetts Treasurer Timothy Cahill last week formally announced his candidacy for governor in the 2010 general election.