News and Information from Bond Buyer

Muni analysts are doubtful that a forbearing bondholder proposal to the Puerto Rico Electric Power Authority will solve all of its financial problems.

For the week ended April 2, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, increased two basis points to 4.22% from 4.20% in the week ended March 26.

California Governor Jerry Brown ratcheted up water restrictions on Wednesday to deal with the state's ongoing drought.

Georgia Gov. Nathan Deal said he will sign a "landmark transportation bill" that will bring as much as $900 million in needed funding for state road work.

For the first time in 12 weeks, municipal bond funds reported a cash outflow as retail investors cashed out ahead of the April 15 tax filing date.

The North Texas Tollway Authority is undergoing an Internal Revenue Service Examination of its 2009 variable-rate bonds as it prepares to refund $871 million of second-tier bonds, according to an addendum to the preliminary official statement.

A judge approved a tentative settlement to most legal challenges to Rhode Island’s 2011 law that overhauled pension benefits for state employees, said Gov. Gina Raimondo.

Prices of top-rated municipal bonds finished mixed on Thursday, the last full trading day of the week, as traders saw yields move slightly higher on longer dated maturities. On Thursday, the Board of Regents for Texas A&M University sold two separate issues totaling almost $290 million in the competitive arena.

The Chicago Board of Education will return to the market on April 21 with the second phase of a planned borrowing that was delayed by a stinging round of downgrades and headline risks over the mayoral run-off.

With a renewed push to legalize professional mixed martial arts in New York, supporters say the Empire State could be looking at millions in new annual revenue.

Moody's Investors Service said it has downgraded DeKalb & Kane County Community Unit School District 427 (Sycamore), Ill.'s general obligation rating to A1 from Aa3.

Standard & Poor's Ratings Services said it lowered its underlying rating to A from A-plus on Macon and Logan Counties Community Unit School District No. 11 (Warrensburg-Latham), Ill.'s previously issued general obligation school bond

The American Public Power Association has told the Treasury Department that it supports proposals in President Obama's fiscal 2016 budget that would simplify federal tax law pertaining to municipal bonds and would like the department to take further efforts to simplify private business use rules.

As the municipal market was winding down on Thursday ahead of the Good Friday observance, traders and underwriter were preparing for an upcoming $871.26 million sale of revenue bonds from the North Texas Tollway Authority.

The Tennessee State School Bond Authority is bringing $460 million of higher education facilities bonds to market on Wednesday.

State lawmakers have approved more than $1 billion a year of new local transportation funding in 2015 with more to come.

The Missouri Highways and Transportation Commission has tapped its chief financial officer Roberta Broeker to serve as interim director of state Transportation Department as a national search continues for a new leader to replace retiring director Dave Nichols.

Los Angeles city leaders announced renewed efforts to improve the city’s miles of crumbling sidewalks in conjunction with a settlement in a case brought under the Americans With Disabilities Act.

The municipal bond market will have an ally in the top echelon of Senate leadership if Sen. Chuck Schumer, D-N.Y., becomes the Senate Democratic leader in 2017, as is widely expected, tax and municipal bond experts said.