News and Information from Bond Buyer

5/21/2015 5/14/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000) Alaska 0 $0 0 $0 $0 California 33 1,336,720 27 1,442,305 -105,585 Hawaii 0 0 0 0 0 Idaho 1 9,500 0 0 9,500 Montana 1 25,000 0 0 25,000 Nevada 0 0 1 18,840 -18,840 Oregon 1 4,370 2 36,430 -32,060 Washington 5 148,665 5 266,750 -118,085 Wyoming 0 0 0 0 0

Government

The weekly average yield to maturity of The Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased four basis points to 4.45% for the week ended May 21 from 4.41% in the previous week.

The Los Angeles City Council on Thursday passed an $8.6 billion balanced city budget for fiscal year 2015-2016.

Work on North Carolina’s Interstate 77 express toll lane project will begin this summer with a lawsuit pending and over recent objections filed by some communities.

New Census figures show that people continue to move out of the Motor City, but at a slightly slower rate than in recent years.

On the last full trading day of the week, prices of top-shelf municipal bonds finished higher, traders said, with yields on some maturities falling by as much as two basis points.

The Puerto Rico government and a healthcare coalition are lobbying to prevent cuts in healthcare spending that they say would hurt the island's economy.

Standard & Poor’s placed A-plus rated California on CreditWatch Positive

The Wayne County board Thursday approved a reorganization plan that is part of the county's attempt to avoid a state takeover.

An ambitious plan by Indianapolis Mayor Greg Ballard to build a $408 million new criminal justice complex as a public-private partnership is facing an uncertain fate amid strong political opposition.

Moody's Investors Service has downgraded the Government Development Bank for Puerto Rico's notes to Ca from Caa1, the Commonwealth of Puerto Rico's general obligation and guaranteed bonds to Caa2 from Caa1, and other affiliated credits by two notches in most cases.

The Board of Governors of the Federal Reserve System has proposed a rule that would amend the Fed’s liquidity coverage ratio requirement (LCR) to include some uninsured investment-grade general obligation municipal securities as high-quality liquid assets (HQLA), a move market participant have said matters little unless other regulators follow suit.

Credit risks for the Port Authority of New York and New Jersey are shifting because the agency is relying more on toll collections than aviation revenue to pay off debt, according to Moody's Investors Service.

Congressional study says airports lack adequate infrastructure because revenues for airport expansions and improvements are limited.

San Bernardino, Calif. enters the final stage of its Chapter 9 bankruptcy with a plan for its pension obligation bondholders to take it on the chin.

The Treasury Department sold $13 billion of inflation-indexed 9-year 8-month TIPs at a 0.358% high yield, an adjusted price of 98.615297, with a 1/4% coupon.

Puerto Rico Gov. Alejandro García Padilla proposed a budget that covers the commonwealth’s increasing external debts but not all of its internal ones.

Prices of top-rated municipal bonds were unchanged at mid-session, traders said, as the market will be looking to wrap things up ahead of Friday’s early market close and the full close on Monday for Memorial Day.

The Treasury Department said it will auction $29 billion seven-year notes on Thursday, May 28.