News and Information from Bond Buyer

The New Jersey Supreme Court heard testimony in a case challenging Gov. Chris Christie's decision to reduce scheduled contributions toward state employees' pensions.

Madison County, Miss., disputes its obligation to backstop some public improvement district bonds in a lawsuit with Radian Asset Assurance Inc.

Standard & Poor's Ratings Services said it has raised its long-term rating to A-plus from A on Pelican Rapids, Minn.'s existing general obligation bonds.

Standard & Poor's Rating Services said it lowered its long-term rating on the Massachusetts Development Finance Agency's series 2013F and 2009D bonds issued for the Southcoast Health System obligated group to A-minus from A.

Finance chairman Sen. Orrin Hatch is looking for the $11 billion needed to keep the HTF solvent through 2015.

Struggling to close a $1 billion budget gap, Chicago Public Schools will curtail capital spending in its next budget and take aim at its teachers' labor contract.

Oregon will be able to manage the immediate impact of the Oregon State Supreme Court’s restoration of the cost-of-living adjustment, Fitch Ratings said in a May 6 report.

After a petition drive and series of legal battles, the Topeka, Kan., City Council rejected a proposal to buy the Heartland Park racetrack with state sales tax and revenue bonds.

A New York City Council panel approved zoning changes necessary to advance a 67-story office tower development with enhanced access to Grand Central.

The California State Water Board’s newly approved water conservation rules will challenge some water utilities more than others, Fitch Ratings said.

Michigan Gov. Rick Snyder said Wednesday he would meet immediately with lawmakers to seek a legislative solution to raise new road money after voters Tuesday soundly rejected a tax referendum.

The state of Louisiana defied naysayers on Wednesday and sold $335 million of municipal bonds in the primary market.

Standard & Poor's Ratings Services said it lowered its underlying rating to D from CC on Parkway East Public Improvement District, Miss.' series 2005 special assessment bonds, issued by Madison County.

The annual average length of time between the end of the fiscal year and the date on which audited financial statements were submitted to EMMA was 448 days in 2014, sharply above the average of 342 days in 2013, a Municipal Securities Rulemaking Board report found.

Default rates are far higher for corporates than for munis with the same ratings, a discrepancy regulators are hoping to address with a rule that takes effect June 15.

The state of Louisiana defied naysayers and sold $335 million of municipal bonds on Wednesday.

The Internal Revenue Service should withdraw or alter a controversial 2013 memorandum relating to the definition a political subdivision, provide interim guidance, and propose new rules that apply prospectively, the tax-exempt financing committee of American Bar Association's taxation section said.

Standard & Poor’s has shifted its outlook on Mesa, Ariz.’s utility debt to negative after transfers of revenue to the city’s general fund.

A push for $10 billion of pension bonds in the last days of the Colorado General Assembly died as the state Senate Finance Committee voted to postpone the bill indefinitely.

The municipal bond market was preparing to handle a second big day of this week's new supply, which is mostly coming from the competitive sector on Wednesday.