News and Information from Bond Buyer

Government

North Carolina residents would decide in a statewide referendum this October or November if they want the state to issue $3 billion in general obligation bonds, according to a bill filed April 16

The limited federal reimbursement to Massachusetts to cover winter storm-related deficits is a credit negative for its local governments, according to Moody’s.

Peel away the layers of negative headlines and patient investors will find in the this week’s $300 million Chicago Board of Education issue low default risks and underlying credit strength, according to Municipal Market Analytics.

A bill by Colorado Sen. Randy Baumgardner would authorize $3.5 billion of tax revenue anticipation notes to capture low interest rates and accelerate highway construction in the state.

Major revenue collections in New Jersey are up so far in 2015 compared to the previous year, according to State Treasurer Andrew Sidamon-Eristoff

The market for green bonds is expanding exponentially and New York City should tap it for multiple benefits, said city Comptroller Scott Stringer.

Prices of top-rated municipal bonds finished mixed on Monday, according to traders, with weakness seen in longer-dated maturities. Trading was subdued ahead of the week’s almost $9 billion of new supply.

The Municipal Securities Rulemaking Board's proposal to require dealers to submit new information through its trade reporting system has some support from the two major industry groups, but one is concerned about possible inefficiency and confusion and the other wants a longer implementation period.

Fitch Ratings said it has upgraded to BBB from BBB-minus the rating on the $67 million series 2005 Kerrville Health Facilities Development Corporation, Texas, bonds, issued on behalf of Sid Peterson Memorial Hospital (dba Peterson Regional Medical Center, PRMC).

Proposed state legislation in California would raise the gasoline tax to generate an additional $3 billion a year for transportation projects.

Martin County, Fla., decided April 14 to hire Chicago-based McDermott, Will & Emery to institute litigation against the All Aboard Florida passenger train project.

Standard & Poor's has revised its outlook to negative from stable on Illinois Wesleyan University’s A-minus rating assigned to debt from a 2006 issue.

Fitch ratings has revised the outlook to stable from negative for $414.4 million of North Las Vegas, Nev., bonds, and affirmed the rating at B.

A Moody's Investors Service downgrade drops Texas Southern University's $81 million of debt to the lowest investment grade rating of Baa3 with a continued negative outlook.

Curbs to the tax exemption for municipal bonds would increase electricity prices for public-power customers and make it less likely that infrastructure improvements would be funded, groups warned in a paper to Senate Finance Committee tax-reform working groups.

New Jersey's Atlantic County led U.S. metropolitan areas in foreclosures during the first quarter of 2015, according to new data.

Standard & Poor's Ratings Services said it raised its underlying rating on Rio Vista Independent School District, Texas' existing general obligation to A-minus from BBB-plus.

Prices of top-rated municipal bonds were mixed at mid-session according to traders, ahead of the week's almost $9 billion of new issues.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.025% high rate, unchanged from 0.025% the prior week, and the six-months incurred a 0.090% high rate, down from 0.105% the week before.