News and Information from Bond Buyer

The Cook County, Ill. board advanced new money and refunding borrowing plans and two major development projects.

Rep. Randy Hultgren, R-Ill., warned House subcommittee leaders considering tax reform proposals on Thursday that a cap or elimination of tax exemption for municipal bonds could raise the cost of infrastructure projects in their own districts.

A group of local and national foundations have pledged $125 million to help Flint, Michigan deal with its water contamination crisis.

Top-rated municipal bonds finished mixed on Thursday as the yield on Municipal Market Data's triple-A 30-year general obligation scale dropped to a record low for a second straight day.

S&P Global Ratings said it lowered its rating on the state of New Mexico's $717.8 million parity senior-lien severance tax bonds to AA-minus from AA, and lowered its rating on the state's $122.5 million New Mexico subordinate supplemental severance tax bonds to A-plus from AA-minus.

New York State Comptroller Thomas DiNapoli wants a constitutional limit on state debt and an end to "backdoor borrowing."

Gov. John Bel Edwards, a Democrat, blasted a budget proposal by House Republicans to address a $600 million deficit by funding a college scholarship program at the expense of health care programs.

The Government Finance Officers Association posted an alert on Thursday encouraging its members to both voluntarily disclose the terms of their bank loans and pay attention to regulators’ increased scrutiny of the lack of such disclosures.

The fed funds rate target is too low for current conditions and should be raised, Federal Reserve Bank of Kansas City President and Chief Executive Officer Esther L. George said Thursday.

Claire Seguin will serve as interim director of the Oregon Housing and Community Services Department, a major bond issuer in the state, beginning next month following the resignation of current director Margaret Van Vliet.

With water from a desalination plant flowing through its pipes, the San Diego County Water Authority heads to market with a $340 million refunding.

The Treasury Department Thursday auctioned $15 billion of 30-year bonds with a 2.50% coupon at a 2.615% high yield, a price of 97.619462.

The Federal Reserve may be able to increase its fed funds target rate at a pace quicker than markets expect, if the incoming data suggest continued improvement, Federal Reserve Bank of Boston President & Chief Executive Officer Eric S. Rosengren said Thursday.

The Municipal Securities Rulemaking Board has filed revised amendments with the Securities and Exchange Commission that would require municipal securities transactions to be closed out within 20 days of settlement.

Top-rated municipal bonds were mixed at mid-session, a day after the yield on Municipal Market Data's triple-A scale for 30-year munis fell to an all-time low.

Despite have spent many years below the Federal Reserve's 2% target, inflation data have been "encouraging" recently and in line with the Federal Open Market Committee's stance that inflation will return to that level in the medium-term, Federal Reserve Bank of Cleveland President and Chief Executive Officer Loretta J. Mester said Thursday.

The Treasury Department said it will auction $11 billion 9-year 8-month 5/8% inflation-protected notes on May 19.

The Treasury Department said Thursday it will auction $31 billion 91-day bills and $26 billion 182-day discount bills Monday.

Investors snapped up Chicago's $537 million water revenue bond issue, allowing the city to trim the steep interest penalties its bonds typically face.

The municipal bond market was set to see more supply on Thursday, a day after the yield on Municipal Market Data's triple-A scale for 30-year munis fell to an all-time low.