News and Information from Bond Buyer

CALIFORNIA

Week Of April 3 Issuer St Description Amount

Friday, March 31 Issuer St Description Amount

ARIZONA

The Cuyahoga County Council signed off on a resolution paving the way for a $140 million bond issue to help cover $280 million of upgrades to the Quicken Loans Arena.

Construction continues on new nuclear power plants in Georgia and South Carolina after the Westinghouse bankruptcy, but the Chapter 11 filing raises concerns for investors in the units, including public power utilities who issued billions in municipal debt.

Government

In the week ended March 30, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell five basis points to 4.22% from 4.27% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

Wells Fargo & Co. received a slap from the Office of the Comptroller of the Currency over its phony accounts scandal, as the bank was downgraded in its most recent Community Reinvestment Act performance evaluation.

A new piece of bipartisan legislation introduced in the Senate today is aimed at allowing the SEC to increase fines for individuals and entities to better discourage future securities law violations

Top-rated municipal bonds ended weaker on Wednesday, traders said, as the last of the week's big new issues hit the market on Thursday. The slate was topped by a large tobacco sale from California and a higher education deal out of Massachusetts.

Allen Park, Mich.'s financial ills have eased enough to garner a five notch ratings boost, moving it two notches from winning back its investment grade status.

Under the tax plan that President Trump proposed during his campaign, New York City could lose billions in federal revenue, according to the first-of-its-kind analysis of the plan, released by New York City Comptroller Scott Stringer on Thursday.

State and local officials try to enlist members of Congress in their fight against budget cuts proposed by President Trump.

While some states celebrated President Trump's reversal of the Clean Power Plan and others filed lawsuits, public utilities are expected to continue moves away from coal.

Illinois is at a fiscal tipping point as its unpaid bill backlog hovers near $13 billion and its budget stalemate headed toward the two-year mark, Moody's Investors Service said.

The three state Republican groups will face off against the SEC and MSRB in oral arguments May 4 on whether a federal appeals court should vacate revisions the MSRB made to its rule on political contributions and curbing pay-to-play in the market.

A sweeping tax reform plan presented by Louisiana Gov. John Bel Edwards Wednesday met with immediate resistance from businesses that stand to see some of the biggest changes.

Trump's $1 trillion infrastructure plan will be structured to attract private investors, Transportation Secretary Elaine Chao said.

Rhode Island General Treasurer Seth Magaziner's initiative aims to boost local pension systems by making it easier for them to join the state system.