News and Information from Bond Buyer

OSF Healthcare System in Illinois heads into the market next week with its $368 million sale with a second dose of good credit news.

The Port Authority of New York and New Jersey’s reform legislation and priorities for its 10-year capital plan will be examined during hearings scheduled for Sept. 10 before the New Jersey Senate Legislative Oversight Committee.

Prices of top-rated municipal bonds closed weaker on Tuesday, as traders got back to work after the Labor Day holiday weekend. New supply for the week is estimated at $3.71 billion, consisting of $3.13 billion of negotiated deals and $575.1 million of competitive sales.

The University of Oklahoma Board of Regents is going to market with $245 million of taxable and tax-exempt bonds for improvements to the football stadium, its residential colleges and a parking garage, after Fitch & S&P downgrades.

More than half of Chicago and its sister agencies’ 11 public employee pension funds have agreed to a joint proposal promoted by Treasurer Kurt Summers that’s aimed at cutting annual investment fees.

Indicator Last Report Forecast Actual Consumer Credit June: +$27.0B July: +$18.8B July: +$19.1B

Arkansas revives road projects stalled over federal funding concerns, but officials say long-term HTF solution is essential.

Consumer credit increased by $19.1 billion in July to $3.453 trillion, the Federal Reserve reported Tuesday.

As the Alabama Legislature resumed work on the state budget due Oct. 1, Standard & Poor's warned that a structurally balanced plan is necessary to maintain the state’s AA general obligation bond rating.

Harrisburg, Pa., faces a revenue gap next year of $6 million less than what state receivers projected in their 2013 recovery plan, said Mayor Eric Papenfuse.

Amid the attention generated by the Illinois budget crisis, a long-term infrastructure problem is brewing behind the scenes, according to a report comparing the state’s infrastructure shortcomings to its budget deficit and pension shortfalls.

The Municipal Securities Rulemaking Board plans to administer its pilot Series 50 municipal advisory representative qualification exam from Jan. 15 through Feb., 15, 2016.

The Treasury Department Tuesday auctioned $24 billion of three-year notes with a 1% coupon at a 1.056% yield, a price of 99.835061.

Secondary market disclosure, issue price, the tax exemption for municipal bonds and private placements with banks are some of the topics the National Association of Bond Lawyers will focus on in the coming year, according to the group’s incoming president, Kenneth Artin.

Standard & Poor's Ratings Services said it raised its rating on Roseau County, Minn.'s series 2012A general obligation debt one notch to AA-minus from A-plus.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.075% high rate, down from 0.095% the prior week, and the six-months incurred a 0.275% high rate, up from 0.270% the week before.

Municipal bond traders got back to work on Tuesday after the Labor Day holiday weekend.

The Treasury Department said it will auction $25 billion 21-day cash management bills on Sept. 9.

The Treasury Department said Tuesday it will sell $30 billion of four-week discount bills Wednesday.