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State tax revenue declined in the second quarter after showing weak growth during the first three months of the year, according to a report from the Nelson A. Rockefeller Institute of Government.

Miami officials will hold a special meeting with attorneys to determine whether to accept a settlement with the Securities and Exchange Commission in light of a verdict finding the city guilty of securities fraud.

Government

Former state and local officials on a House Financial Services Committee panel raised concerns Thursday about the lack of transparency of fees in municipal bond deals and the tendency by dealers to push for more negotiated than competitive bond transactions.

A $1 billion economic development initiative in Buffalo, N.Y. is at the center of a corruption scheme that federal prosecutors say resulted in hundreds of millions of dollars being awarded for New York State contracts.

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, rose three basis points to 3.83% from 3.80% in the previous week.

Puerto Rico’s power outage may signal a need for greater investment in electric infrastructure, hurting returns for Puerto Rico Electric Power Authority bondholders who are in negotiations with the utility to restructure its business and debt.

Top-quality municipal bonds finished stronger on Thursday, according to traders, as the Dormitory Authority of the State of New York came to market with over $1 billion of bonds.

The Michigan Treasury has appointed Michigan State University local government expert Eric Scorsone as senior deputy state treasurer for finance.

The Michigan Finance Authority approved a plan to issue $235 million of debt to refund some Detroit Public Schools bonds before they lose their state aid backing on Oct. 1.

New York City Comptroller Scott Stringer proposes tripling the city's earned-income tax credit contribution from 5% to 15% the federal tax credit.

Oregon’s road user task force wants state lawmakers to expand its existing vehicle-miles-traveled fee system.

Dealers are struggling with how to comply with the Municipal Securities Rulemaking Board’s proposed markup disclosure requirements and whether they can create computer programs or rely on pricing services for compliance.

Investors have yet to reward green bonds with better pricing, but there is growing demand for the niche, according to one speaker at the Bond Buyer’s California Public Finance conference.