News and Information from Bond Buyer

Washington State sold $321.6 million of various purpose general obligation bonds and $200.5 million of motor vehicle fuel tax general obligation bonds in competitive sales Tuesday, touting the success it achieved in "volatile" market conditions.

Senate Finance Committee chair Orrin Hatch on Wednesday demanded Puerto Rico Gov. Alejandro Garcia Padilla provide detailed financial information by March 1 and said he wants to come up with a plan to help the commonwealth by the end of that month.

New York Gov. Andrew Cuomo’s proposed fiscal 2017 budget maintains a controlled spending policy, according to Standard & Poor’s.

Most of New York Gov. Andrew Cuomo’s infrastructure proposals aim to achieve worthy goals, but have some fundamental flaws from a public policy and infrastructure planning perspective.

Top shelf municipal bonds were steady at mid-session, as traders saw some more of the week’s big new issue slate hit the market on Wednesday, led off by the Pennsylvania Turnpike deal.

Top shelf municipal bonds were steady in early Wednesday activity, as traders look to see some more of the week’s big new issue slate come to market.

North Carolina voters decide March 15 if North Carolina can issue $2 billion of general obligation bonds to finance higher education and state capital projects.

Feb. 10, 2016 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois Baa1/A+/BBB+ 1.13 2.19 3.3 4.32 Indiana Aaa/AAA/AA+ 0.38 0.9 1.74 2.81 Iowa Aaa/AAA/AAA 0.38 0.89 1.74 2.81 Michigan Aa1/AA+/AA 0.41 0.92 1.85 2.94 Minnesota Aa1/AA+/AA+ 0.38 0.84 1.65 2.69 Missouri Aaa/AAA/AAA 0.38 0.83 1.63 2.7 Nebraska NR/AAA/NR 0.38 0.92 1.79 2.89 North Dakota Aa1/AA+/NR 0.41 0.97 1.82 2.89 Ohio Aa1/AA+/AA+ 0.4 0.91 1.77 2.85 South Dakota NR/AA+/AA+ 0.4 0.91 1.82 2.91 Wisconsin Aa2/AA/AA 0.39 0.9 1.77 2.84

2/9/2016 2/2/2016 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 17 $311,515 14 $935,405 -$623,890 Indiana 4 164,245 5 51,900 112,345 Iowa 3 50,390 5 56,255 -5,865 Michigan 18 157,965 26 392,770 -234,805 Minnesota 21 530,660 22 715,215 -184,555 Missouri 3 248,725 2 38,530 210,195 Nebraska 0 0 0 0 0 North Dakota 0 0 6 35,665 -35,665 Ohio 8 549,690 10 430,572 119,118 South Dakota 0 0 0 0 0 Wisconsin 21 323,902 17 88,295 235,607

Wednesday, February 10 Issuer St Description Amount

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Week Of February 8 Issuer St Description Amount

ARKANSAS

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California should rethink its reliance on bond debt to fund infrastructure, according to California Treasurer John Chiang.

President Obama on Tuesday unveiled a $4.1 trillion budget for fiscal 2017, his last one, that includes a $10.25 per barrel tax on oil to fund green transportation projects and several proposals that either benefit or restrict the use of municipal bonds.

The Securities and Exchange Commission has plans to increase its examination and enforcement staff as President Obama announced in his budget on Tuesday that he wants to double the SEC’s budget by fiscal year 2021, starting with a $200 million increase to $1.78 billion in 2017.

Government

Philadelphia’s Temple University is allocating a $1 million study to examine building a new on-campus football stadium.

Top-rated municipal bonds finished slightly stronger on Tuesday, according to traders who saw a wide array of new deals hit the marketplace. The bulk of the week’s more than $9 billion of new supply was priced or sold, led off by deals from issuers in New York, Texas and Washington state.