News and Information from Bond Buyer

Week Of June 27 Issuer St Description Amount

ARKANSAS

ALABAMA

Legislation to rescue Puerto Rico from its debt crisis is moving to President Obama’s desk for a signature after the Senate approved it 68 to 30 Wednesday, just two days before the commonwealth is expected to default on a $2 billion debt payment.

Government

Lawmakers convened this week at the state’s capital to negotiate a stop-gap spending plan to fund schools and other services for the state of Illinois before the fiscal year starts July 1.

Atlantic City is looking to slice its annual debt service payments by 26% as part of its recovery plan to avoid a state takeover, Mayor Donald Guardian said during a community meeting Tuesday night.

Top quality municipal bonds finished steady to weaker on Wednesday, traders said, as more new deals hit the market, led off by a $1.18 billion offering from Massachusetts.

As of Wednesday afternoon the Puerto Rico Electric Power Authority was in talks about Friday's debt payment.

Mesirow Financial is venturing into Indiana with the opening of a n office in downtown Indianapolis, and it’s hired Greg Clark to lead the effort.

The state of Delaware will issue $85.5 million of tax-exempt general obligation refunding bonds Thursday, according to an event notice posted on the Municipal Securities Rulemaking Board’s EMMA website this week.

Top quality municipal bonds were steady at mid-session, traders said, as more new deals hit the market led by a $1 billion offering from Massachusetts.

A bill in the North Carolina General Assembly would ask voters to lower the income tax rate to 5.5% from 10%, a move that opponents say would restrict budget flexibility and jeopardize the state's triple-A ratings.

The Senate is poised to pass the Puerto Rico rescue bill after clearing what many say was the final hurdle for the legislation on Wednesday morning, invoking cloture by a vote of 68 to 32.

Indicator Last Report Forecast Actual Personal Income April: +0.5% May: +0.3% May: +0.2% Consumption April: +1.1% May: +0.4% May: +0.4% Core PCE Price Index April: +0.2% May: +0.2% May: +0.2% Pending Home Sales April: +3.9% May: -1.0% May: -3.7%

Pending home sales decreased 3.7% to an index reading of 110.8 in May, after a revised 3.9% gain to 115.0 in April, according to a report released Wednesday by the National Association of Realtors.

Working against deeper budget deficit estimates, Massachusetts House and Senate leaders are negotiating a budget for the new fiscal year that will start Friday.

Municipal bond traders are waiting for more new deals come to market on Wednesday as issuers eye yields, which are moving up slightly from their recent record low levels.

Pennsylvania's House of Representatives on Tuesday night passed a $31.6 billion budget bill as the deadline hovers for a new fiscal year.

Wednesday, June 29 Issuer St Description Amount