News and Information from Bond Buyer

4/28/2015 4/21/2015 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 6 $166,725 8 $329,005 ?162,280 Indiana 6 89,075 8 74,570 14,505 Iowa 7 27,660 8 136,045 ?108,385 Michigan 8 60,735 9 231,910 ?171,175 Minnesota 34 367,982 23 220,490 147,492 Missouri 5 54,280 5 80,475 ?26,195 Nebraska 1 168,510 0 0 168,510 North Dakota 2 13,660 2 35,560 ?21,900 Ohio 6 185,389 11 542,901 ?357,512 South Dakota 0 0 0 0 0 Wisconsin 17 93,905 25 174,130 ?80,225

Government

The Los Angeles City Council began budget hearings April 28 on the $8.5 billion budget proposed by the mayor for fiscal 2015-16.

DIA Still Climbing 20 Years After Takeoff

New York's adopted fiscal 2016 budget contains borrowing provisions that raise concerns about oversight, transparency and accountability, according to a new report released by State Comptroller Thomas DiNapoli.

The Florida House of Representatives abruptly ended their session Tuesday afternoon following a standoff with the Senate over Medicaid expansion. The session was to run through Friday.

Chicago could sink into speculative grade territory if it fails to quickly make headway in tackling its pension and budgetary mess, Nuveen Asset Management LLC warns in a new research report.

Prices of top-rated municipal bonds closed weaker on Tuesday, traders said, with yields on some longer-dated maturities rising by as much as five basis points.

Last week's aborted Louisiana State University bond deal stemmed from what an analyst called a “shell game” in which state lawmakers try to balance budgets by cutting aid to localities.

Chapter 9 guru James Spiotto says states are increasingly realizing the importance of early intervention in their distressed cities to avoid the crisis of a municipal bankruptcy where everyone loses.

Standard & Poor's Ratings Services said it lowered its underlying rating for credit program on Stephens County School District, Ga.'s general obligation debt one notch to BBB-plus from A-minus.

Connecticut Gov. Dannel Malloy continued his push for a 30-year, $100 billion transportation infrastructure spending package.

Millions of jobs and billions of dollars in state road and transit projects are at risk unless a multiyear federal transportation bill is in place by the end of May, Senate Finance Committee Democrats warned on Tuesday.

Puerto Rico Gov. García Padilla expects to deliver an annual state of the commonwealth speech this week without offering a budget.

Rhode Island Gov. Gina Raimondo throws a little chin music at the new owners of the Pawtucket Red Sox, who want to build a ballpark in downtown Providence.

Citing a decline in the oil and gas industry, Standard & Poor’s lowered the underlying rating on Venus Independent School District near Dallas to A from A-plus.

Older companies often face challenges in adapting to new challenges, but they have advantages as well, according to chief executives, including Alexandra Lebenthal, at the Milken Institute’s Global Conference.

U.S. Solicitor General Donald Verrilli has until May 20 to respond to a request from Miami, Fla.'s former budget director that the Supreme Court hear his argument that he should be shielded from a Securities and Exchange Commission lawsuit.

Northwestern University is offering more than $600 million of its gilt-edged paper to taxable and tax-exempt buyers to refund some debt and raise financing for projects in an ongoing $2.6 billion capital program.

The Treasury Department auctioned $35 billion of five-year notes, with a 1 3/8% coupon, a 1.380% high yield, a price of 99.975923.