Minnesota

Minnesota Gov. Mark Dayton unveiled projects in line for funding if lawmakers approve his plan to bolster transportation spending by billions in the coming years through tax and fee hikes and borrowing.

The Board of Trustees for the Minnesota State Colleges and Universities system takes competitive bids Wednesday on $78 million of new money and refunding bonds.

Minnesota-based Northland Securities has hired veteran Twin Cities-based sales manager Mike Harlander to head up its fixed income capital markets sales group as part of a growth effort.

One day after unveiling a 10-year, $11 billion transportation plan, Minnesota Gov. Mark Dayton laid out the second major piece of his legislative agenda Tuesday in announcing a $42 billion two-year budget that taps the state's $1 billion surplus to raise education spending.

Edina, Minnesota voters will decide the school district's request for $125 million in borrowing authorization when they vote on May 5 ballot.

Minnesota would impose a tax on wholesale sales of gasoline to help generate at least $800 million in new revenue annually for transportation projects under a proposal unveiled by Senate majority leaders.

The Minnesota Orchestral Association's low investment grade credit has stabilized as the organization recovers from its past lockout, Standard & Poor's said.

Minnesota Gov. Mark Dayton tapped his Department of Revenue Commissioner Myron Frans to replace Jim Schowalter in the state's top fiscal post at Minnesota Management and Budget, which oversees debt management.

Moody's Investors Service has revised its outlook on Central Minnesota Municipal Power Agency's A3 rating to positive from stable as the agency makes progress on a high voltage transmission line project and its members have seen improved credit quality.

Buoyed by income tax revenue growth and reduced healthcare spending, Minnesota is on track to enjoy a more than $1 billion surplus, state fiscal officials said Thursday.

Monticello, Minn., will borrow $6.5 million to fund a settlement with holders of $26.4 million of defaulted telecommunication revenue bonds as the city seeks to turn the page from a failed deal that prompted investor accusations of fraud.

The Independent School District No. 832 in Minnesota is issuing bonds to refund Build America Bonds, and the City of Grand Forks, N.D. has started a process that may lead it to do the same.

Midwestern voters head to the polls Tuesday to decide the fate of a handful of finance-related ballot questions and the leadership of eight states, including several where debate over fiscal pressures is taking center stage.

Moody's Investor’s Service returned Vadnais Heights, Minn.'s general obligation bonds to low investment grade, now that a resolution is in place on $27 million of bonds that defaulted after the city failed to honor a pledge on a sports complex.

Three more Midwestern issuers have said that they can redeem Build America Bonds issued in 2010 because their subsidy payments from the federal government have been reduced due to sequestration.

Moody's Investors Service has revised Minnesota-based Fairview Health Services' outlook on its A3 rating to positive from stable in recognition of steady operating improvements.

The Minneapolis-St. Paul Metropolitan Airports Commission heads into the market Wednesday with a $275 million subordinate general airport revenue refunding with no near-term new-money borrowing in sight.

The public agency overseeing construction of a new Minnesota Vikings stadium approved a $49 million increase in the project's budget due to rising construction costs.

Borrowing by Midwest issuers slid 13.2% for the first half of 2014 but new-money issuance fueled by Chicago and Illinois deals helped boost new-money by 16.8%.

Minnesota will take bids Tuesday on $904 million of general obligation bonds in a sale bolstered by a refunding piece and decision to skip its customary second annual new money issue.