News and Information from Bond Buyer

Week Of February 13 Issuer St Description Amount

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COLORADO

A recent New Jersey Supreme Court decision rejecting a school funding freeze proposed by Gov. Chris Christie for 31 mostly low-income districts is a credit positive for the impacted localities, according to Moody’s Investors Service.

Government

The Puerto Rico Energy Commission rejected immediate approval of the Aguirre Offshore Gas Port project for the Puerto Rico Electric Power Authority.

The Chicago Board of Education and a group of parents sued Gov. Bruce Rauner and the Illinois Board of Education, charging that the state’s funding system discriminates against its mostly minority student population.

Top-quality municipal bonds finished Tuesday weaker, with yields as many as five basis points higher in some maturities, according to traders, as some of the week’s larger deals flooded the market. Federal Reserve Chair Janet Yellen added fuel to the fire by signaling that more than one interest rate increase is possible this year.

Keeping the full tax-exemption for municipal bonds will be vital to America’s plans for rebuilding its infrastructure, Scott Pattison, executive director and CEO of the National Governors Association, said on Tuesday.

Loma Linda University was downgraded to Baa1 by Moody’s Investors Service ahead of plans to price $179 million in revenues bonds next week.

Municipal market analysts are concerned that Municipal Securities Rulemaking Board data shows more issuers are giving themselves 270 days after the end of their fiscal years to file annual financial information.

The Glades Correctional Development Corp. in south-central Florida said that it received a preliminary Internal Revenue Service determination that its 2006 bonds violate the private activity use test.

The IRS won't be issuing any rules or significant guidance for a while in the wake of President Trump's regulatory actions.

New York's drinking water infrastructure may require nearly $40 billion of repairs and improvements over the next two decades, according to State Comptroller Thomas DiNapoli.

West Virginia Gov. Jim Justice wants a higher gasoline tax to support up to $2.8 billion of road bonds.

Issuers in the Midwest sold $87.2 billion of municipal bonds in 2016, a 23.4% year-over-year increase that was the biggest of any region.

Indicator Last Report Forecast Actual PPI Dec.: +0.2% Jan.: +0.3% Jan.: +0.6% PPI Core Dec.: +0.1% Jan.: +0.2% Jan.: +0.4%

Refusing to be pinned down to whether rates will be increased at either the March or June Federal Open Market Committee meetings, Federal Reserve Board Chair Janet Yellen said, "Every meeting is live."

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.515% high yield, a price of 99.959944.

Top-quality municipal bonds were weaker at mid-session, traders said, as market participants prepared for the start of the week's new issuance.