News and Information from Bond Buyer

IOWA

ALABAMA

6/8/2015 6/1/2015 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 5 $334,250 5 $111,120 $223,130 Arkansas 1 25,850 1 2,660 23,190 Colorado 2 81,025 3 47,290 33,735 Kansas 17 134,681 13 93,701 40,980 New Mexico 2 6,000 0 0 6,000 Oklahoma 23 52,370 27 59,985 -7,615 Texas 41 899,853 46 1,346,118 -446,265 Utah 1 19,020 1 7,100 11,920

Government

The Puerto Rico government’s money shortage has forced it to slow the issuance of income tax refunds.

Illinois Gov. Bruce Rauner has extended fiscal aide Donna Arduin’s contract with the administration locked in an impasse over the fiscal 2016 budget with the legislature’s Democratic majority.

New York City is projecting a surplus of $3 billion for fiscal 2015 and a balanced budget for fiscal 2016, said state Comptroller Thomas DiNapoli.

The potential liquidity crisis triggered by another rating agency’s downgrade to junk was a short term headache Chicago could handle, according to the Kroll Bond Rating Agency, which affirmed the city.

Seeking an end to the longest legislative session in Kansas history, Gov. Sam Brownback said he would sign legislation increasing sales and tobacco taxes to erase a $400 million budget deficit.

Alabama Gov. Robert Bentley vetoed the state’s fiscal 2016 general fund budget after warning the GOP-led Legislature that the plan cut too deeply into essential government services.

Prices of top-shelf municipal bonds finished slightly stronger on Monday, as traders kept one eye on the week’s new issue slate and another eye on the direction of muni yields.

The Oregon Senate is considering legislation that would allow the Oregon Facilities Authority to issue bonds for projects reaching beyond the Beaver State's borders.

Standard & Poor's Ratings Services said it raised its rating on Harris County Municipal Utility District (MUD) No. 400, Texas' general obligation debt to BBB from BBB-minus.

The New York City Housing Development Corp. board approves a $680 million inaugural sustainable neighborhood bond transaction, expected to price next week.

Moody's Investors Service said it has downgraded Farmington Public School District, Mich.'s general obligation rating to Aa3 from Aa2.

Maryland wants to investigate the feasibility of a magnetic levitation train between Baltimore and Washington.

Standard & Poor's Ratings Services said it raised its rating on the Indianapolis Local Public Improvement Bond Bank, Ind.'s series 2011D, 2011I, and 2012B bonds (senior obligations) to AA from AA-minus.

The Texas Transportation Commission will bring $800 million of refunding bonds to market in its first issue since the Legislature approved a record funding increase for highway projects.

Hartford Funds is launching two new municipal bond funds to expand its suite of products

Federal Reserve Bank of Minneapolis President Narayana Kocherlakota will become the inaugural Lionel W. McKenzie Professor of Economics at the University of Rochester in New York starting Jan. 1, 2016, the Bank announced Monday.