News and Information from Bond Buyer

Chicago Mayor Rahm Emanuel is moving up by one month release of a 2016 budget that is expected to address how the city intends to tackle a spike in pension contributions.

Illinois lawmakers plan to begin sending off bills that make up a $36.3 billion fiscal 2016 budget to Gov. Bruce Rauner next week, three weeks after they adopted a spending plan labeled by the GOP leader as “phony.”

A gasoline tax increase is not going to be the revenue solution for a multiyear highway bill, Sen. Orrin Hatch, R-Utah, said Thursday.

The House Appropriations Committee approved a fiscal 2016 bill Wednesday that would keep Securities and Exchange Commission funding consistent at the 2015 enacted level of $1.5 billion, about $222 million short of President Obama’s FY2016 request.

California’s budget and revenue outlook is so sunny that the state doesn’t plan to issue revenue anticipation notes this year.

Wayne County, Mich., on Thursday delayed its $187 million note sale to next week after County Executive Warren Evans asked for state fiscal intervention to help dig it out of a $52 million hole.

The Securities and Exchange Commission today announced enforcement actions against 36 municipal underwriting firms Thursday for violations in muni bond offerings, fining them a total of about $9.3 million in settlements under the Municipalities Continuing Disclosure Cooperation initiative.

The Treasury Department and Internal Revenue Service should include projects about accountable care organizations, management contracts, issue price and other topics on their 2015-2016 priority guidance plan,said the tax-exempt financing committee of the American Bar Association’s taxation section.

Two days after a rating downgrade of a Kentucky agency’s bonds partly because of unfunded pensions, Gov. Steve Beshear ordered a study into the solvency of the Kentucky Teachers’ Retirement System.

Wayne County, Mich. officials say they expect investor interest in an upcoming financing though it will come just days after the county executive requested that the state step in and declare a financial emergency.

Stephen Goldsmith, a former mayor of Indianapolis and campaign advisor for President George W. Bush, has joined Loop Capital Financial Consulting Services, LLC as a senior advisor.

Wayne County, Mich., Executive’s request late Wednesday for state intervention may delay the county’s $187 million note sale, which was scheduled for as early as Thursday.

New York MTA Chairman Thomas Prendergast remains confident in getting approval of a five-year capital program, which is sitting in limbo.

Thursday, June 18 Issuer St Description Amount

Thursday, June 18 Issuer St Description Amount

Jun. 18, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.29 1.54 2.36 3.35 Florida Aa1/AAA/AAA 0.34 1.6 2.44 3.42 Georgia Aaa/AAA/AAA 0.29 1.49 2.29 3.24 Kentucky Aa2/AA+/AA+ 0.33 1.63 2.49 3.47 Louisiana Aa2/AA/AA 0.42 1.89 2.77 3.73 Mississippi Aa2/AA/AA+ 0.33 1.62 2.5 3.47 North Carolina Aaa/AAA/AAA 0.29 1.49 2.29 3.25 South Carolina Aaa/AA+/AAA 0.29 1.51 2.32 3.28 Tennessee Aaa/AA+/AAA 0.29 1.51 2.32 3.27 Virginia Aaa/AAA/AAA 0.29 1.49 2.28 3.24 West Virginia Aa1/AA/AA+ 0.33 1.58 2.42 3.4

Week Of June 22 Issuer St Description Amount

Week Of June 15 Issuer St Description Amount

ARKANSAS

ALABAMA