News and Information from Bond Buyer

Chicago took a beating but got its deal done as it offered its first general obligation bonds in more than a year Wednesday, with its fall to a junk-bond rating fresh on investors’ minds.

An advisory committee’s tax-exempt bond panel will present a report to the Internal Revenue Service next month on balancing limited resources with needs, the IRS announced Wednesday.

Suffolk County is expediting the merger of its comptroller and treasurer offices, which is expected to save more than $3 million annually.

Sixteen municipal market groups are urging House members to co-sponsor a bill that would treat all investment grade and actively traded municipal securities as high-quality liquid assets under a bank liquidity rule.

Bank of America Merrill Lynch dominated the municipal bond market primary on Wednesday as it priced and then repriced $674 million of Chicago deals to lower most yields and won the bidding for Pennsylvania’s $1.24 billion offering.

New York City taxpayers and businesses shoulder too big a burden for MTA operations, said city Comptroller Scott Stringer.

Standard & Poor's Ratings Services said it lowered its long-term rating on Cook County School District No. 156 (Lincoln), Ill.'s existing general obligation debt to A-plus from AA-minus.

For the first time in eight months, Denver International Airport has a chief financial officer with the promotion of Gisela Shanahan from her previous post as senior manager of capital planning and budget.

The Florida Legislature will attempt to bridge an impasse over low income healthcare funding that has left the state without a fiscal 2016 budget and facing a government shutdown.

Connecticut completed $881 million in general obligation bond sales in May including a $181 million refinancing, said Treasurer Denise Nappier.

After several months of good employment news, Puerto Rico's employment situation slipped a bit in April.

Five years ago Michigan’s retirement systems attached their guarantee to a troubled bond deal, and being forced to cover payments, lawmakers will bail out the pension funds with general fund money.

Special highways panel says West Virginia needs to increase transportation funding by $1.1 billion per year.

The Arkansas legislature quickly approved bills to authorize GO bonds to help a Lockheed Martin factory project.

Rhode Island Gov. Gina Raimondo proposed user fees for large commercial trucks to backstop a $700 million bond for transportation infrastructure.

The Treasury Department auctioned $35 billion of five-year notes, with a 1 1/2% coupon, a 1.560% high yield, a price of 99.712598.

Paterson, N.J., Mayor Joey Torres and state Sen. Nellie Pou are proposing a municipal "land bank" program that would allow financially challenged cities to seize control of abandoned and foreclosed properties.

Kerri Baker will serve as Rhode Island Treasury's chief transparency officer, state General Treasurer Seth Magaziner announced.

Standard & Poor's Ratings Services said it raised its rating on Vallecitos Water District, Calif.'s enterprise debt to AA-plus from AA.

Bank of America Merrill Lynch dominated the attention of the municipal bond market on Wednesday as it priced the $668 million Chicago offering while it won the $1.24 billion of Pennsylvania bonds.