News and Information from Bond Buyer

Week Of May 23 Issuer St Description Amount

ALABAMA

ARKANSAS

The partisan political in Illinois further deepened Wednesday as the Democratic House Speaker prepared to call a spending plan slammed by Republicans as phony and $7 billion out of whack.

Government

Gov. Alejandro García Padilla’s proposed budget anticipates the continued payment of bonds of the Puerto Rico Sales Tax Finance Authority in fiscal year 2016-2017.

Wayne County, Mich. County Executive Warren Evans has said he intends to make the bid to end the county’s emergency consent agreement by the end of 2016.

Missouri-based public finance law firm Gilmore & Bell PC is bulking up, adding two bond lawyers who primarily focus on school district finance.

Top-quality municipal bonds finished steady to weaker on Wednesday, according to traders, as issuers looked to complete deals ahead of time before the Memorial Day holiday weekend.

Michigan’s Republican legislative leaders and Gov. Rick Snyder have settled on a budget framework that cuts funding for a proposed state water infrastructure fund to offset dwindling tax revenue while leaving intact $165 million in proposed aid for Flint.

Ferguson, Missouri will go back to voters seeking a tax hike to help balance a budget strained by a drop in tax collections, legal expenses, and the costs of tackling policing and municipal court reforms outlined in a federal consent agreement.

The California Public Employees' Retirement System's purchase of an equity stake in the Indiana Toll Road earlier this month is part of a growing trend of public pension funds investing more directly in large infrastructure assets.

Oregon panel says state needs an additional $964 million per year to maintain and protect its existing transportation infrastructure.

The Long Island Power Authority tapped Joseph Branca, Bank of America Merrill Lynch’s head of northeast public finance, as its new chief financial officer.

Financial advisory firm KNN Public Finance has hired public finance banker Melissa Shick as a director to help with the growth the firm expects in new money issuance as California state and local issuers take aim at needed infrastructure improvements.

Airport groups, public power systems and a muni advocate group have joined the growing chorus of muni market participants calling for the Internal Revenue Service to withdraw its proposed rules on political subdivisions.

Proposed House legislation designed to help Puerto Rico is moving to the full floor with light amendments after a 29-10 House Natural Resources Committee vote on Wednesday.

A state review panel’s approval of a five-year, $27 billion capital program was greeted enthusiastically by the board of the New York Metropolitan Transportation Authority t.

The Treasury Department auctioned $34 billion of five-year notes, with a 1 3/8% coupon, a 1.395% high yield, a price of 99.903732.

Tax-exempt bonds give municipal issuers a unique advantage in negotiating public-private partnerships, a factor that some municipal market and legal advocates say should not be overshadowed.