News and Information from Bond Buyer

The Port of Greater Cincinnati Development Authority is planning a post-July 4, $57 million bond offering that will be used finance the construction of a 239 room upper upscale hotel and conference center at the Madison Center development that is located 7 miles outside downtown Cincinnati.

The Puerto Rico Electric Power Authority announced that it was borrowing $264 million to avoid a default on Friday.

Long-term municipal bond issuance in June surged 9%, marking the second straight month when volume was increased year-over-year following eight months of decreased volume. Refundings played a big role once again, as interest rates fell.

Virginia is seeking a $200 million federal grant to help fund its $1.4 billion Atlantic Gateway mobility effort.

A South Carolina judge has indicated that he plans to side with Richland County in its fight over the release of 1-cent sales tax revenues frozen by the state Department of Revenue amid a probe into irregular spending.

Decades of fiscal restraint have put L.A. County in a better position to step up spending to address homelessness, prison overcrowding and other social needs.

Municipal bonds were weaker at mid-session, traders said, as the end of the first-half of the year approached on the last full trading session ahead of Friday's early dismissal and Monday's full market close.

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

The Treasury Department said Thursday it will auction $34 billion 91-day bills and $29 billion 182-day discount bills Tuesday.

Wells Fargo Securities, the capital markets and investment banking business of Wells Fargo & Co., added two managing directors in the public finance area, as Megan DeGrass joined the higher education and nonprofit team based in Boston and Evan Levine joined the transportation group in New York.

What's the appeal of the tax-credit alternative? It guarantees that a holder will receive full value as long as he has a matching tax liability. That's true even if the issuing State is in a financial crisis and can't pay its bondholders.

Municipalities buy insurance to obtain a higher credit rating for a bond issue and a commensurately lower borrowing cost. The savings arise from a lower coupon or, if the coupon is fixed, a higher price. But how can municipalities make sure that bond insurance makes economic sense for them? The answer is to pay close attention to the costs and benefits.

Indicator Last Report Forecast Actual Initial Jobless Claims 6/18: 258,000 6/25: 267,000 6/25: 268,000 Continuing Claims 6/11: 2.140M 6/17: 2.147M 6/17: 2.120M Chicago PMI May: 49.3 June: 50.5 June: 56.8

The Chicago Purchasing Managers' Business Barometer soared to 56.8 in June from 49.3 in May, the National Association of Purchasing Management-Chicago said Thursday.

Municipal bond traders are set to see first-half issuance come to an end as the last of the week's bigger deals come to market.

Jun. 30, 2016 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.56 0.92 1.43 2.15 Florida Aa1/AAA/AAA 0.53 0.93 1.43 2.14 Georgia Aaa/AAA/AAA 0.52 0.86 1.33 2.01 Kentucky Aa2/A+/AA+ 0.56 1 1.53 2.24 Louisiana Aa3/AA/AA 0.7 1.27 1.82 2.56 Mississippi Aa2/AA/AA+ 0.54 0.96 1.56 2.27 North Carolina Aaa/AAA/AAA 0.52 0.86 1.33 2.01 South Carolina Aaa/AA+/AAA 0.52 0.87 1.37 2.05 Tennessee Aaa/AA+/AAA 0.52 0.87 1.36 2.02 Virginia Aaa/AAA/AAA 0.51 0.85 1.32 2 West Virginia Aa1/AA+/AA+ 0.55 0.98 1.49 2.19

6/29/2016 6/22/2016 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 0 $0 2 $76,160 -76,160 Florida 9 531,205 7 637,480 -106,275 Georgia 2 19,020 0 0 19,020 Kentucky 1 19,450 4 78,330 -58,880 Louisiana 0 0 0 0 0 Mississippi 1 22,500 2 22,585 -85 North Carolina 2 31,605 0 0 31,605 South Carolina 8 1,112,755 2 35,620 1,077,135 Tennessee 2 14,925 2 118,270 -103,345 Virginia 1 48,910 2 37,000 11,910 West Virginia 0 0 0 0 0

Thursday, June 30 Issuer St Description Amount

Thursday, June 30 Issuer St Description Amount

Thursday, June 30 Issuer St Description Amount