News and Information from Bond Buyer

Jul. 15, 2015 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 1.55 3.12 4.2 5.06 Indiana Aaa/AAA/AA+ 0.3 1.38 2.45 3.43 Iowa Aaa/AAA/AAA 0.3 1.39 2.45 3.43 Michigan Aa2/AA/AA 0.36 1.49 2.61 3.61 Minnesota Aa1/AA+/AA+ 0.31 1.35 2.38 3.32 Missouri Aaa/AAA/AAA 0.3 1.33 2.36 3.34 Nebraska NR/AAA/NR 0.3 1.4 2.5 3.51 North Dakota Aa1/AA+/NR 0.33 1.45 2.53 3.51 Ohio Aa1/AA+/AA+ 0.32 1.39 2.51 3.51 South Dakota NR/AA+/AA+ 0.34 1.44 2.53 3.53 Wisconsin Aa2/AA/AA 0.33 1.4 2.5 3.51

CALIFORNIA

ALABAMA

7/14/2015 7/7/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 5 $1,141,875 7 $476,300 665,575 Indiana 6 42,275 7 139,820 -97,545 Iowa 4 9,935 11 84,630 -74,695 Michigan 15 228,470 10 101,770 126,700 Minnesota 28 297,591 35 595,155 -297,564 Missouri 6 77,335 2 20,816 56,519 Nebraska 0 0 2 62,520 -62,520 North Dakota 0 0 2 28,000 -28,000 Ohio 9 146,690 10 232,561 -85,871 South Dakota 0 0 0 0 0 Wisconsin 18 136,435 21 136,280 155

Government

The City and County of Honolulu plans to price a combined $689 million new money/refunding on July 21-22 to fund improvements to wastewater facilities.

Fitch Ratings boosted Guam Waterworks Authority’s water and wastewater revenue bonds to BBB-Minus and raised the authority’s outlook from stable to positive affecting $373.1 million in debt.

Puerto Rico’s attempt at a quick and consensual debt restructuring may quickly dissolve into legal chaos, analysts said.

Prices of top-quality municipal bonds ended unchanged on Tuesday, traders said, as some of the week’s chunky new issue supply began to hit the market. In the primary, JPMorgan priced the California State University Trustees' $1.04 billion of tax-exempts for retail investors ahead of the institutional pricing on Wednesday.

An $8 billion plan to stave off insolvency of the Highway Trust Fund would keep federal transportation funding flowing to states through Dec. 18.

Former Cook County CFO and Illinois Rep. Henry Woods “Woody” Bowman died in a car crash in Michigan on July 10.

Retired investment banker Earl Hamlin has been elected president of the Port of Oakland Board of Port Commissioners.

The Municipal Securities Rulemaking Board’s proposal to ease the independence standard for its public investor slot is “deeply flawed” and “would undermine the very purpose” of Dodd-Frank Act provisions, according to the Securities and Exchange Commission’s Investor Advocate.

Chicago shouldn't expect much of a break for resolving its credit deterioration-driven liquidity crisis when it sells $1.1 billion of tax-exempt and taxable bonds this week, as investors await a resolution on more daunting pension funding and budgetary ills.

Former Harrisburg, Pa., Mayor Stephen Reed was arrested on 17 charges and nearly 500 counts related to use of bond proceeds and other public money.

San Jose (Calif.) Redevelopment Agency received an upgrade to BBB from BBB-minus from Fitch Ratings affecting $1.5 billion of bonds.

Prices of top-quality municipal bonds were mostly stronger at mid-session, traders said, as yields were steady to as much as one basis point lower. Meanwhile, the market was seeing the first of the week's $8 billion in new muni issuance come to market.

The Central Florida Expressway Authority has appointed Lisa Lumbard as the agency's permanent chief financial officer.

The Treasury Department Tuesday auctioned $40 billion of four-week bills at a 0.020% high yield, a price of 99.998444.