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The Metropolitan Water Reclamation District of Greater Chicago sold $427 million high grade paper at what a local bond trader described as a “fair” market penalty given the tarnished names of Chicago and Illinois.

Puerto Rico chief financial officer Melba Acosta Febo said Puerto Rico may pay some, but probably not all, of the commonwealth’s general obligation bond debt due July 1.

State Treasurer Denise Nappier announced a reduction in the Connecticut Higher Education Trust management fee, now that the direct-sold plan has exceeded $2.5 billion in assets.

Top-shelf municipal bonds ended stronger on Tuesday, according to traders, with the yield on the 30-year municipal falling into record low territory. In the primary, Georgia and a Maryland issuer sold a bevy of competitive offerings and a New York issuer came to market with a negotiated airport deal.

Rep. Jeb Hensarling, R-Tex., plans to introduce an alternative to the Dodd-Frank Act that would, among other things, stop the Municipal Securities Rulemaking Board from receiving some of the muni rule enforcement fines collected by regulators and repeal the Volcker Rule.

Illinois will take competitive bids on $550 million of new money general obligation bonds next week as the state barrels toward its second fiscal year without a budget.

A new state rescue plan fails to address Atlantic City’s long-term fiscal challenges, S&P Global Ratings said Tuesday in affirming its deep junk-level CC rating of the New Jersey gambling resort.

Citizens Energy Group – which manages central Indiana’s water system – heads into the market with a $70 million revenue bond issue accompanied by upgrades from two rating agencies.

California local government officials and other stakeholders are becoming increasingly uneasy about the lack of activity in the state legislature’s special session on transportation.

Indicator Last Report Forecast Actual Productivity Q4: -1.7% Q1: -0.6% Q1: -0.6% Unit Labor Costs Q4: +5.4% Q1: +4.0% Q1: +4.5% Consumer Credit March:+$28.4B April: +$19.0B April: +$13.4B

Voters in Wake County, N.C., will decide in November whether to approve a 0.5% increase in the local sales tax to fund a 10-year, $2.39 billion transit plan to reduce highway congestion in the Raleigh area.

Consumer credit increased by $13.4 billion in April to $3.602 trillion, the Federal Reserve reported Tuesday.

With construction crews ready to get to work this summer, Wisconsin-based issuers will sell $235 million of debt this week to cover most of the public's price tag for a new $524 million arena for the NBA's Milwaukee Bucks.

Faced with a state Supreme Court threat to block distribution of funds to Kansas public schools, Gov. Sam Brownback called a special session of the legislature to provide a funding solution.

The Internal Revenue Service ruled that a management contract between a bond issuer and the manager of a hotel who receives incentive fees based on gross revenue will not result in private business use that could jeopardize the tax-exempt status of the bonds.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 7/8% coupon at a 0.930% yield, a price of 99.837652.

The U.S. Department of Transportation has received 585 applications seeking $9.3 billion of Transportation Investment Generating Economic Recovery (TIGER) grants – almost 19 times more than the $500 that is to be awarded later this year.