News and Information from Bond Buyer

The College of New Jersey (TCNJ) has broken ground on a science, technology, engineering and math building, financed in part by the Garden State's $750 million Building Our Future Bond Act.

The Treasury Department Thursday auctioned $13 billion of 29-year 10-month bonds with a 3% coupon at a 3.084% high yield, a price of 98.364175.

Triple-A rated Maryland is planning to competitively sell $500 million of general obligation bonds on July 16.

For the first time since May 2010, Texas sales tax revenues fell below the same month in the previous year, Texas Comptroller Glenn Hegar reported July 8.

Massachusetts lawmakers send a $38 billion budget to Gov. Charlie Baker one week after fiscal 2016 began.

The Treasury Department said Thursday it will auction $24 billion 91-day bills and $26 billion 182-day discount bills Monday.

Prices of top-rated municipal bonds broke a three-day streak and turned weaker on Thursday, traders said, as yields on some maturities rose by as much as two basis points. In the primary, Bank of America Merrill Lynch priced the Illinois State Toll Highway Authority's $400 million deal.

Chicago intends to bring nearly $1.1 billion of general obligation bonds to market next week in a deal that allows it to discard remaining general fund liquidity risks tied to its credit deterioration by jettisoning expenses on to its long-term debt load.

The municipal bond market was waiting on Thursday for the last of the week’s bigger deals to come to market.

Thursday, July 9 Issuer St Description Amount

Thursday, July 9 Issuer St Description Amount

Week Of July 6 Issuer St Description Amount

CALIFORNIA

Jul. 9, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.3 1.38 2.29 3.31 Florida Aa1/AAA/AAA 0.34 1.43 2.36 3.37 Georgia Aaa/AAA/AAA 0.3 1.33 2.22 3.2 Kentucky Aa2/AA+/AA+ 0.34 1.47 2.42 3.43 Louisiana Aa2/AA/AA 0.43 1.71 2.71 3.69 Mississippi Aa2/AA/AA+ 0.34 1.46 2.45 3.43 North Carolina Aaa/AAA/AAA 0.3 1.33 2.22 3.21 South Carolina Aaa/AA+/AAA 0.3 1.35 2.25 3.24 Tennessee Aaa/AA+/AAA 0.3 1.34 2.25 3.23 Virginia Aaa/AAA/AAA 0.29 1.32 2.21 3.2 West Virginia Aa1/AA/AA+ 0.34 1.4 2.35 3.36

CALIFORNIA

7/8/2015 7/1/2015 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 3 $42,970 2 $30,405 12,565 Florida 8 950,445 14 1,116,070 -165,625 Georgia 6 130,120 5 173,980 -43,860 Kentucky 3 63,920 1 5,370 58,550 Louisiana 4 140,400 4 140,400 0 Mississippi 1 2,500 0 0 2,500 North Carolina 1 463,110 0 0 463,110 South Carolina 2 81,245 1 65,745 15,500 Tennessee 1 347,460 1 9,800 337,660 Virginia 5 235,350 4 262,080 -26,730 West Virginia 0 0 0 0 0

Government

StepStone is the new consultant for the $30 billion Connecticut Retirement Plans and Trust Funds’ private investment fund, state Treasurer Denise Nappier said.

A Puerto Rico diaspora group launched a project to help Puerto Rico’s economy Friday.

Standard & Poor's Ratings Services said today it lowered its rating on Chicago's general obligation (GO) bonds to 'BBB+' from 'A-' and removed it from CreditWatch.