News and Information from Bond Buyer

Clark Burrus, counsel to multiple Chicago mayors and mentor to countless public finance professionals, died this month. He was 86. He was remembered for both his financial and political acumen at funeral services last week.

Moody's Investors Service has downgraded the McKeesport Area School District, Pa.'s general obligation rating to Ba1 from A3.

Steps to reform Jacksonville, Fla.'s public safety pension plans are a credit positive, Moody's Investors Service said in a special comment June 29.

The Georgia Supreme Court Monday ruled that $368 million of bonds to finance the Atlanta Braves' $672 million baseball stadium were properly validated by a lower court.

The Supreme Court has declined to hear the case of ex-Miami, Fla. budget director Michael Boudreaux, sending the former official and the city back to court to fight a Securities and Exchange Commission lawsuit in a move some lawyers fear could hurt municipal officials' abilities to do their jobs.

States are making plans for another short-term extension or a possible cutoff of federal transportation funding on July 31.

A 4% tax increase Philadelphia approved to generate $50 million for Philadelphia schools is a credit positive for the struggling district, but not large enough to be a long-term solution, according to Moody's.

The state Senate last week did not confirm four of five appointees by Gov. Andrew Cuomo and New York City Mayor Bill de Blasio to the Metropolitan Transportation Authority board.

The New Jersey State Legislature has approved a package of bills aimed at stabilizing Atlantic City's finances.

The Senate Finance Committee's tax reform working groups will not be submitting reports to the committee's leaders by the end of the month, as had been expected.

Worry about Greece fueled a flight to safety buy in bonds on Monday, pushing up prices of both U.S. Treasuries and municipal bonds.

Standard & Poor's Ratings Services said it raised its underlying rating for credit program on Walker-Hackensack-Akeley Independent School District No. 113, Minn.'s general obligation alternative facilities debt one notch to A-plus from A.

Pennsylvania lawmakers over the weekend advanced a $30 billion budget that barring a compromise appears headed for a veto by Gov. Tom Wolf.

Standard & Poor's Ratings Services said it raised its long-term rating to A-plus from A on South Dakota Health & Education Facilities Authority's series 2012 and 2006 revenue bonds, issued for Westhills Village Retirement Community.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were higher, as the three-months incurred a 0.015% high rate, up from 0.010% the prior week, and the six-months incurred a 0.110% high rate, up from 0.080% the week before.

Standard & Poor's Ratings Services said it has raised its underlying rating on Morton Road Municipal Utility District, Texas' debt to A-minus from BBB-plus.

A legal battle over use of a gate at Love Field will delay $110 million of revenue bonds for an urgently needed parking garage at the Dallas airport.

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

Texas factory activity, as measured by the production index, "declined again in June," according to the monthly business activity survey conducted by the Federal Reserve Bank of Dallas, released Monday.