News and Information from Bond Buyer

Michigan lawmakers are meeting for a rare summer session to try to hammer out a plan to raise new money for roads and bridges after a recent tax referendum went down in flames.

The Dormitory Authority of the State of New York has approved more than $3.22 billion in new financing for educational and healthcare institutions.

Florida’s private passenger train developer has hired Miami-based contractor Archer Western to upgrade a 66-mile segment of rail infrastructure between Miami and West Palm Beach.

Pennsylvania Gov. Tom Wolf has named state Auditor General Eugene DePasquale to head a task force on municipal pensions.

Michigan lawmakers are trying to fix an election snafu that wiped every Flint mayoral candidate off the primary ballot and spurred a write-in candidacy on behalf of a pig named Giggles.

Prices of top-rated municipal bonds finished lower on Thursday, traders said, with yields on some maturities rising by as much as two basis points, Meanwhile in the primary market, DBRS Ltd. made one of its first forays into the U.S. municipal market from across the border in Canada when it rated a North Carolina private activity bond deal that priced this week.

Standard & Poor's Ratings Services said it lowered its long-term rating on Muskogee County Independent School District No. 20, Okla.'s general obligation debt one notch to A-minus from A and its long-term rating on Muskogee Industrial Trust's lease revenue bonds — which are supported by the district — to BBB-plus from A-minus.

California charter school chain Magnolia Public Schools will rekindle its growth plans after settling a lawsuit against the Los Angeles Unified School District, which had tried to shut down Magnolia’s schools there.

Federal aid for Puerto Rico and its cash-strapped issuing authorities is not going to happen, former governor Luis Fortuño told municipal analysts Thursday.

Prices of top-rated municipal bonds were flat at mid-session, traders said, with yields on all maturities remaining unchanged.

The Treasury Department Thursday auctioned $16 billion of 30-year bonds with a 3% coupon at a 3.044% high yield, a price of 99.138514.

Standard & Poor's Ratings Services said it raised its long-term and underlying ratings on various series of bonds issued by Minneapolis, and the Minnesota Agricultural & Economic Development Board for Fairview Health Services to A-plus from A.

Any well-publicized enforcement action over whether bank loans should be treated as securities would certainly provide some guidance on this issue, Municipal Securities Rulemaking Board executive director Lynnette Kelly told muni analysts meeting here.

The National Federation of Municipal Analysts presented awards to six muni market professionals during a luncheon at its annual conference in Las Vegas Wednesday.

Glen Wakeman, former chief executive of the now-defunct Doral Financial in Puerto Rico, quickly landed on his feet.

Moody’s Investors Service labeled the Illinois Supreme Court’s voiding of the state’s 2013 pension system overhaul a “credit negative” for the state’s A3 bond rating.

Moody's Investors Service said it has assigned a Aa3 rating to Orange County, Fla.'s $159 million tourist development tax refunding revenue bonds, Series 2015, and upgraded the rating on the county's outstanding parity bonds to Aa3 from A1.

The Treasury Department said it will auction $13 billion 9-year 8month ¼% inflation-protected notes on Thursday, May 21.

The internal Revenue Service’s tax exempt bond office will hold a webinar on qualified school construction bonds next month.

The Treasury Department said Thursday it will auction $24 billion 91-day bills and $24 billion 182-day discount bills Monday.