News and Information from Bond Buyer

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The United States Virgin Islands plans to sell a $40 million revenue anticipation note to Banco Popular to help it get through the fiscal year ending on Sept. 30.

A 15-cent increase in Kansas fuel taxes would support $264 million per year in highway projects, boosting economic activity by nearly $600 million, according to a road-building industry report.

Government

Resolution of Illinois’ budget crisis likely requires new revenue and spending curbs because natural economic growth alone isn’t enough to tackle the state’s massive debts, a Chicago Federal Reserve economist told lawmakers.

Syncora Guarantee Inc. is looking to partner with a developer to lead the overhaul of Detroit land it acquired as part of its bankruptcy settlement with the city in 2014.

D.C. is appealing the IRS determination of taxability on its bonds while a former IRS official faults the developer and bond counsel for violations of tax requirements.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell seven basis points to 4.27% in the latest week from 4.34% in the previous week.

The Puerto Rico Oversight Board has named a veteran of the Ukraine’s 2014-to-2016 restructuring to be its executive director.

A courtroom hearing next month will determine whether California can issue a portion of nearly $10 billion of voter-approved bonds for its high-speed rail program.

Top quality municipal bonds finished stronger on Thursday, according to traders, as activity in the primary market slowly wound down.

Puerto Rico’s general obligation bondholders called for negotiations on the island’s debt after a judge halted litigation between them and holders of the island’s sales tax revenue bonds.

Jay Clayton, the nominee to take over as SEC chair, told senators on Thursday that a focus on enforcement against individuals will be an important part of the SEC’s efforts to curb bad actors in the capital markets.

Louisiana was not penalized by the market after its third rating downgrade in a year, getting strong bids for this week’s general obligation bond pricing.

President Trump’s proposed Fiscal Year 2018 budget would cause a major setback to plans for a long-stalled Gateway rail project connecting New Jersey and Manhattan, lawmakers and transportation advocates warned.

Bonds supported by higher gas tax could spark $500 billion increase in federal transportation funding.

The Treasury Department said it will auction $13 billion one-year 10-month 0.140% floating rate notes on Mar. 29.

The Treasury Department said it will auction $28 billion seven-year notes on Mar. 29.

The Treasury Department said it will auction $20 billion year bills on Mar. 28.