News and Information from Bond Buyer

The Illinois State Toll Highway Authority's proposed 2017 budget calls for nearly $1 billion in capital spending supported by $300 million in toll-backed borrowing.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.340% high rate, unchanged from 0.340% the prior week, and the six-months incurred a 0.475% high rate, up from 0.470% the week before.

The Treasury Department said Monday it will sell $45 billion of four-week discount bills Tuesday.

The Volcker Alliance announced on Monday that it will be conducting a study called the “Truth and Integrity in Government Finance” that is aimed at helping U.S. states improve budgeting and fiscal sustainability.

Top-rated municipal bonds were flat with at mid-session, traders said, as they prepared for yet another huge issuance week, with an estimated $16.5 billion set to pass through the pipeline.

Princeton University’s settlement to end litigation claiming it should pay property taxes on certain Princeton, N.J. properties is a credit positive for both the school and the local government, according to Moody’s Investors Service.

The private sector might be willing to carry risk the public sector doesn’t want, or provide capital sooner than the public sector capacity allows, but these benefits come at a cost, and sometimes that cost is hard to measure.

Boosted by a rating upgrade, the Denver Convention Center Hotel Authority is refunding its outstanding debt as the Mile High City launches a $778 million program to attract more visitors.

Rhode Island is working on a debt affordability study that will include bonded debt as well as pension and OPEB liabilities, said Treasuer Seth Magaziner.

Top-rated municipal bonds were flat in early activity, traders said, with participants prepared for yet another huge issuance week, as an estimated $16.5 billion will be coming through the pipeline.

INDIANA

Monday, October 24 Issuer St Description Amount

Monday, October 24 Issuer St Description Amount

Week Of October 24 Issuer St Description Amount

Week Of October 24 Issuer St Description Amount

Day Indicator Last Report Forecast Tuesday Consumer Confidence Sept.: 104.1 Oct.: 101.5 Wednesday New Home Sales Aug.: 609,000 Sept.: 600,000 Thursday Durable Goods Orders Aug.: unch Sept.: +0.2% Thursday ex-Trans Aug.: -0.4% Sept.: +0.2% Thursday Initial Claims 10/15: 260,000 10/22: 259,000 Thursday Continuing Claims 10/8: 2.057M 10/15: 2.063M Thursday Pending Home Sales Aug.: -2.4% Sept.: +1.2% Friday Employment Cost Index Q2: +0.6% Q3: +0.6% Friday GDP Q2: +1.4% Q3: +2.5% Friday Final Sales Q2: +2.6% Q3: +2.5% Friday Michigan Sentiment Sept.: 91.2 Oct.: 88.2 Friday Current Conditions Sept.: 105.5 Oct.: 105.5 Friday Expectations Sept.: 76.6 Oct.: 77.0

Oct. 24, 2016 Northeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Connecticut Aa3/AA-/AA- 0.91 1.6 2.39 3.19 Delaware Aaa/AAA/AAA 0.71 1.11 1.71 2.53 Maine Aa2/AA/AA 0.73 1.19 1.84 2.65 Maryland Aaa/AAA/AAA 0.71 1.13 1.75 2.54 Massachusetts Aa1/AA+/AA+ 0.74 1.23 1.9 2.73 New Hampshire Aa1/AA/AA+ 0.73 1.16 1.76 2.63 New Jersey A2/A/A 1.06 1.75 2.42 3.22 New York Aa1/AA+/AA+ 0.71 1.12 1.78 2.69 Pennsylvania Aa3/AA-/AA- 0.91 1.57 2.26 3.12 Rhode Island Aa2/AA/AA 0.76 1.31 2.04 2.89 Vermont Aaa/AA+/AAA 0.71 1.13 1.74 2.55 Dist. of Columbia Aa1/AA/AA 0.74 1.23 1.92 2.78 Puerto Rico Caa3/CC/CC 45.71 16.72 11.67 8.59

ALABAMA

10/21/2016 10/14/2016 State # Iss Amount ($000s) # Iss Amount ($000s) Chg in Amt ($000s) Connecticut 4 $203,475 6 $748,465 -$544,990 Delaware 0 0 1 21,000 -21,000 Maine 1 5,400 0 0 5,400 Maryland 5 887,140 5 843,165 43,975 Massachusetts 3 161,048 4 33,620 127,428 New Hampshire 3 231,515 0 0 231,515 New Jersey 7 2,863,160 4 665,535 2,197,625 New York 13 271,727 25 1,480,828 -1,209,101 Pennsylvania 15 405,080 13 2,529,930 -2,124,850 Rhode Island 2 46,100 2 43,050 3,050 Vermont 0 0 0 0 0 District of Columbia 0 0 0 0 0 Puerto Rico 1 750,000 1 750,000 0