News and Information from Bond Buyer

The state of Kentucky will provide half of the financing needed to build a state-of-the-art medical research facility that will target diseases that disproportionately affect residents of the Commonwealth.

The head of Wayne County, home to Detroit, has ordered a spending freeze across the government as the county tries to stabilize its credit deterioration and ward off a state takeover.

Chicago is almost $400 million underwater on 24 swaps tied to $2.4 billion of floating-rate general obligation and revenue-backed paper, the city reports in a new disclosure.

Small colleges are having a hard time but college mergers may help out, according to Moody's Investors Service.

Prices of top-rated municipal bonds finished little changed in very subdued trading on Monday, traders said, after plunging in secondary trading last Friday. Yields were unchanged to one basis point higher on some maturities ahead of this week’s heavy new issue calendar.

The Sierra Kings Health Care District in California has paid the U.S. Treasury $20,000 to settle tax issues and preserve the tax-exempt status of bonds it sold in 2007 and 2009.

Two Texas senators have added to the anti-toll legislation in the 2015 legislative session, filing bills to limit the use of public-private partnerships to non-toll projects and other legislation.

Interest rates must be raised before there is full employment and 2% inflation, Federal Reserve Bank of Cleveland President and Chief Executive Officer Loretta J. Mester said Monday, noting she would be "comfortable" if rates rose before June.

Pressure from constituents may be best hope for quick congressional approval of a long-term federal transportation bill, industry advocates say.

Moody's Investors Service has raised its outlook to stable from negative on the University of Arizona as it prepares a $228 million debt issue at the end of the month.

States seeking to boost their transportation funding are finding gasoline tax increases as the most effective path to progress.

Pennsylvania Gov. Tom Wolf's plan to reduce pension fund costs is a credit positive for large passive asset managers, according to Moody's.

Voters across Texas will consider passing more than $4.75 billion of bond proposals on ballots May 9.

Former Maverick County Commissioner Cesar Flores has been sentenced to 10 years in federal prison for his role in a bribery and bid-rigging scheme involving state highway funds. Fourteen others have been convicted.

Texas Tech University System earned an upgrade from Moody's Investors Service and prospects for another from Standard & Poor's based on its growing financial resources, strong brand recognition and enrollment increases across its four campuses.

Members of a banking committee approved a Nebraska bill that would favor bondholders over pensioners in the event of a bankruptcy, sending the measure to the floor of the Legislature.

Moody's Investors Service said it has upgraded to Aa1 from Aa2 the town of Williamstown, Mass.'s general obligation rating.

Prices of top-rated municipal bonds were steady at mid-session, according to traders.

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.015% high rate, unchanged from 0.015% the prior week, and the six-months incurred a 0.095% high rate, up from 0.075% the week before.