Washington

The District of Columbia Water and Sewer Authority will close on about $450 million of debt July 23, most of it in the form of a historic green century bond issuance that DC Water's chief financial officer is crediting with introducing new investors to the large, frequent issuer.

Dealers pay less for munis than customers, particularly when there is more time between trades, according to a long-awaited study commissioned by the Municipal Securities Rulemaking Board. But market sources say the finding is not surprising and that the report is limited in its results.

Puerto Rico's non-voting representative in Congress met with credit rating agencies and investment bankers in New York last weekend, seeking to assure them of Puerto Rico's economic future.

Chances for swift passage of a billion bailout of the highway fund rise with Obama's support of the House's temporary fix.

The Financial Industry Regulatory Authority has permanently barred a former employee of a broker-dealer and investment advisory firm from the financial markets and ordered him to pay more than $200,000 of restitution to a customer he swindled.

Janney Capital Markets is concerned that Standard & Poor's ratings for some local governments may be too high and out of step with current credit conditions.

An economic study that stresses the value of investments in transportation is part of a weeklong effort by President Obama to get a long-term highway funding bill.

Moody's Investors Service upgraded the general obligation bond rating on Bainbridge Island, Wash., based on the city's stabilizing tax base and consistent operating surpluses.

Bond lawyers and issuers are frustrated that the Securities and Exchange Commission did not specify the disclosure failures that led to its settlement with a California school district on Tuesday. They said it leaves them with no helpful guidance on what kinds of disclosures the SEC is focusing on in its Municipalities Continuing Disclosure Cooperation voluntary enforcement initiative.

The House Ways and Means Committee plans to vote on a bill Thursday that would transfer almost $11 billion to the Highway Trust Fund to keep it solvent through May 31, 2015.

Congress must quickly fix the impending insolvency of the Highway Trust Fund without waiting for an executive order, President Obama said.

Moody's Investors Service downgraded Howard University to Baa3 from Baa1 on Thursday.

The U.S. Army Corps of Engineers sees public-private partnerships as a potential funding source for water infrastructure projects.

The DC Water and Sewer Authority is looking to issue 100-year green bonds for a massive wastewater project.

Dozens of firms have withdrawn their registrations as municipal advisors under the new regulatory regime that takes full effect Tuesday, citing a myriad of reasons for avoiding participation in a new era of muni advising.

The state of Washington completed a $1.2 billion combined new money and refunding deal this week, garnering major savings from the refinancing portion, according to the state treasurer.

The Head of the Senate Finance Committee will work with chairman of House Ways and Means for a quick, temporary fix to the fast-depleting Federal Highway Trust Fund.

Panelists at The Bond Buyer's Pacific Northwest Municipal Market Symposium in Seattle discussed the implications of two regulatory initiatives taking place this year, the SEC's MCDC self-reporting initiative, and municipal advisor regulation.

The Securities and Exchange Commission has charged a Philadelphia-area private equity firm with violating pay-to-play rules by receiving advisory fees from the city and state pension funds following campaign contributions an associate made to state and local officials. It is the first case brought by the SEC under its pay-to-play rules for investment advisers.

Watchdog group advises lawmakers to avoid bookkeeping gimmicks in resolving the multi-billion shortfall in the Highway Trust Fund.