News and Information from Bond Buyer

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.000% high yield, a price of 100.000000.

Prices of top-shelf municipal bonds were lower at mid-session, as several big deals came to market in the negotiated and competitive sectors led by the $937 million general obligation bond sale from the state of Massachusetts.

Mayor Bill de Blasio and the City Council agree on a $78.5 billion fiscal 2016 budget for New York City that includes 1,300 new police officers.

Public finance attorney Maribel Mata Benedict has joined Detroit-based law firm Miller Canfield in the firm's Chicago office from Katten Muchin Rosenman.

State and private universities, local and state government agencies, and even the federal government have announced significant data breaches that compromised information and caused significant operational disruptions.

The finance committee of New York's MTA approved a motion to authorize the use of variable rate refunding bonds in connection with targeted refunding bonds.

The municipal bond market is awaiting the first of the week’s large new issue slate to hit the screens, lead on Tuesday by a Massachusetts deal and a competitive offering from Seattle, Wash.

The Treasury Department and Internal Revenue Service released new proposed rules on the definition of issue price to allow issuers to rely on the initial offering price under certain circumstances and provide a narrower definition of an underwriter.

Tuesday, June 23 Issuer St Description Amount

Tuesday, June 23 Issuer St Description Amount

Week Of June 22 Issuer St Description Amount

Week Of June 22 Issuer St Description Amount

Indicator Last Report Forecast Actual Existing Home Sales April: 5.04 May: 5.26 May: 5.35

Jun. 23, 2015 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.36 1.63 2.57 3.58 Arkansas Aa1/AA/NR 0.31 1.53 2.41 3.4 Colorado Aa1/AA/NR 0.31 1.56 2.45 3.48 Kansas Aa1/AA+/NR 0.29 1.56 2.45 3.44 New Mexico Aaa/AA+/NR 0.29 1.51 2.36 3.38 Oklahoma Aa2/AA+/AA+ 0.33 1.59 2.47 3.48 Texas Aaa/AAA/AAA 0.33 1.53 2.43 3.42 Utah Aaa/AAA/AAA 0.29 1.45 2.27 3.26

MASSACHUSETTS

CALIFORNIA

6/22/2015 6/15/2015 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 2 $60,990 4 $37,360 $23,630 Arkansas 1 10,000 3 33,785 -23,785 Colorado 3 232,885 4 76,985 155,900 Kansas 7 42,937 8 55,480 -12,543 New Mexico 1 9,485 3 13,490 -4,005 Oklahoma 11 6,395 21 41,720 -35,325 Texas 54 1,708,768 38 1,242,468 466,300 Utah 1 22,795 2 42,710 -19,915

A technical advice memorandum concluding that the Village Center Community Development District in Florida was not a political subdivision that could issue tax-exempt bonds will not apply retroactively, the Internal Revenue Service chief counsel’s office said.

The Florida Legislature ended a special session June 19 after adopting a $78.7 billion record budget for fiscal 2016 that is now being challenged in court by environmentalists.