News and Information from Bond Buyer

The Texas Senate has approved a $4.6 billion reduction in school property taxes under a bill by Sen. Jane Nelson. The Texas House is considering an even larger $4.8 billion tax break.

The firm’s positive view of municipal bonds stems from their tax benefits, overall improvements in fiscal issues, such as pension reform, and generally rising revenue among states and municipalities.

The Central Florida Expressway Authority won a 1.23% interest rate on a 35-year TIFIA loan Wednesday, the program's lowest-ever long-term rate, a federal transportation official said.

San Diego is moving ahead with plans to price $120 million in bonds in April in the face of an appeal of a court ruling that the city can legally issue the bonds.

The Treasury Department auctioned $29 billion of seven-year notes, with a 1 3/4% coupon and a 1.792% high yield, a price of 99.724848.

Prices of top-quality municipal bonds made a U-turn and turned weaker on Thursday, traders said, with yields rising by as much as two basis points at mid-session. Yields had remained little changed over the previous three trading sessions.

Matthias Edrich, chair of the National Association of Bond Lawyers’ tax-law committee, rejoined Kutak Rock on Monday, less than a year after he left the firm.

Municipal bond traders were looking to see the last of this week's big new issue come to market today led off by the big deal from Virginia's College Building Authority.

Facing costs incurred by this winter’s mega-snow, Boston’s MBTA might consider catastrophe bonds as a hedge against future damage.

Franklin Templeton Investments filed its first brief on March 25 appealing the ruling that allowed Stockton to exit bankruptcy.

Pennsylvania Gov. Tom Wolf is creating a competitive procurement process for selecting bond counsel, calling the move vital to overhauling state government.

Thursday, March 26 Issuer St Description Amount

Week Of March 23 Issuer St Description Amount

Mar. 26, 2015 Southeast: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Alabama Aa1/AA/AA+ 0.18 1.26 2.04 2.86 Florida Aa1/AAA/AAA 0.22 1.29 2.06 2.92 Georgia Aaa/AAA/AAA 0.18 1.2 1.93 2.75 Kentucky Aa2/AA+/AA+ 0.21 1.34 2.14 2.98 Louisiana Aa2/AA/AA 0.21 1.36 2.17 3.02 Mississippi Aa2/AA/AA+ 0.21 1.32 2.12 2.94 North Carolina Aaa/AAA/AAA 0.18 1.21 1.93 2.75 South Carolina Aaa/AA+/AAA 0.18 1.23 1.97 2.79 Tennessee Aaa/AA+/AAA 0.18 1.23 1.97 2.78 Virginia Aaa/AAA/AAA 0.18 1.2 1.92 2.74 West Virginia Aa1/AA/AA+ 0.21 1.31 2.1 2.94

CALIFORNIA

ALABAMA

3/25/2015 3/18/2015 State Iss Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Alabama 0 $0 2 $7,635 ?7,635 Florida 8 1,085,160 10 1,258,445 -173,285 Georgia 0 0 1 16,480 -16,480 Kentucky 9 121,775 12 404,765 -282,990 Louisiana 4 130,780 0 0 130,780 Mississippi 4 191,785 2 111,000 80,785 North Carolina 4 238,365 2 212,810 25,555 South Carolina 3 90,820 0 0 90,820 Tennessee 3 33,710 1 22,535 11,175 Virginia 9 1,097,040 5 287,825 809,215 West Virginia 1 30,005 0 0 30,005

Indicator Last Report Forecast Actual Durable Goods Jan.: +2.8% Feb.: +0.3% Feb.: -1.4% Durable Goods ex-trans Jan.: +0.3% Feb.: +0.3% Feb.: -0.4%

Thursday, March 26 Issuer St Description Amount

Government