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The prospect of swift legislative action to overhaul the Illinois education funding system appeared more remote Thursday, as the state House’s top Democrat announced of a new task force to come up with a plan.

Government

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell two basis points to 4.26% in the latest week from 4.28% in the previous week.

The Louisiana Legislature ended a special session agreeing to budget cuts and using reserves to close a $304 million mid-year gap, while facing a $440.5 million shortfall in fiscal 2018 due to lower revenue estimates.

Officials from New York’s MTA have discussed delays to the reconstruction of the No. 1 Cortlandt Street station – destroyed on 9/11 – with contractor Judlau.

Municipal market participants saw the last issuance of the week flow into the market as muni yields dropped a little on Thursday, according to traders.

The Republican-controlled Michigan House of Representative voted down legislation to roll back the state’s income tax legislation.

Chicago-based Daniel A. Noyes & Co. has added three institutional sales professionals to its fixed-income team in Indianapolis, a move the firm believes cements its expansion into municipals.

Two California Lawmakers want to lower the required voter threshold to pass many local bond measures from a two-thirds supermajority to a 55% simple majority.

Six holders of municipal revenue bonds underwritten by Christopher Brogdon are trying to recover as much as $1 million in lost capital as well as other expenses from bond trustee BOK Financial Securities.

Ohio University sports financing expert and former player agent Bob Boland sifts through the messy issue of bond financing for NFL stadiums and franchise relocation with Bond Buyer northeast regional editor Paul Burton.

Cuyahoga County, Ohio-based MetroHealth System was placed on Credit Watch with negative implications by S&P Global Ratings.

The Albany city government could lose important state funding under New York Gov. Andrew Cuomo's proposed fiscal 2018 budget.

Philadelphia's sugary beverage tax generated more than double the tax revenues projected in its first month.

Caltrain is relying on an on-line petition to reverse a hold on $647 million federal rail grant.

Rhode Island Auditor Dennis Hoyle said he would probe expenses related to contractors and vendors connected to the failed United Healthcare Infrastructure Project computer system.

Kansas Gov. Sam Brownback’s veto of a bill that could have raised $1 billion over two years withstood an attempted override in the Kansas Senate.

The Treasury Department auctioned $28 billion of seven-year notes, with a 2 1/8% coupon and a 2.197% high yield, a price of 99.535200.