News and Information from Bond Buyer

Most cities' "bottom lines" are positive and have bounced back from the financial crisis, though many are still in negative territory and are vulnerable to becoming distressed if they aren't already, according to a new report from Merritt Research Services president and chief executive officer Richard Ciccarone.

A U.S. district court judge has scheduled a trial for late summer of next year in the Securities and Exchange Commission case against the city of Miami and Michael Boudreaux, the city's former budget director.

A federal judge this week sided with Ohio when he dismissed a lawsuit challenging the use of Ohio Turnpike toll revenue to fund projects that aren't on the turnpike itself.

A Kentucky conduit is issuing $230 million of bonds this week to provide financing for a public-private partnership building a statewide high-speed Internet system.

Prices of top-quality municipal bonds were weaker at mid-session, traders said, with yields on some maturities strengthening by as much as three basis points.

The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/8% coupon, a 1.463% high yield, a price of 99.577196.

Buy-side analysts and strategists offered recovery solutions for Puerto Rico ranging from eligibility for Chapter 9 bankruptcy to Congressional intervention and economic reform.

The Treasury Department Wednesday auctioned $13 billion of one-year 11-month floating rate notes with a high discount margin of 0.086%, at a 0.077% spread, a price of 99.982448.

Standard & Poor's Ratings Services said it has lowered its long-term rating on Tripoli Community School District, Iowa's series 2012 general obligation school bonds one notch to A from A-plus.

New Jersey Gov. Chris Christie signed legislation on Aug. 25 authorizing new funding for wastewater infrastructure and clean drinking water projects across the state.

Pennsylvania's budget impasse continues after the legislature failed to override Gov. Tom Wolf's veto of the $30 billion fiscal 2016 spending plan.

Indicator Last Report Forecast Actual Durable Goods June: +4.1% July: -0.5% July: +2.0% Durable Goods ex Trans June: +1.0% July: +0.2% July: +0.6%

Municipal bond market participants are waiting for California's big general obligation bond offering to be priced for institutions on Wednesday.

Wednesday, August 26 Issuer St Description Amount

Wednesday, August 26 Issuer St Description Amount

Week Of August 24 Issuer St Description Amount

Week Of August 24 Issuer St Description Amount

FLORIDA

ARKANSAS

A Chapter 9 filing by the Chicago Public Schools could push the distressed district into a financial "death spiral," the district's former chief executive officer Paul Vallas said Tuesday.