News and Information from Bond Buyer

A Texas lawmaker is seeking to ban the use of capital appreciation bonds in the state and require more disclosure about outstanding debt on bond ballots.

Standard & Poor's Ratings Services said it raised its long-term rating two notches to A-plus from A-minus on Buck Creek Township Government Center Building Corp., Ind.'s general obligation first-mortgage bonds, issued for Buck Creek Township.

Standard & Poor's Ratings Services said it raised its long-term rating on West Park Municipal Utility District, Texas' general obligation debt to BBB-plus from BBB.

The Internal Revenue Service is asserting that $25.42 million of bonds, which were issued by the California Statewide Communities Development Authority in 2005 and benefit the Sweetwater Union High School District, are taxable private-activity bonds.

The Municipal Securities Rulemaking Board's best execution rule may create liquidity problems for certain areas of the market and will pose compliance challenges for everyone, industry officials said Monday.

Missouri Gov. Jay Nixon named aide John Watson Friday to temporarily serve as state auditor following the suicide of Tom Schweich.

Standard & Poor's Ratings Services said it lowered to A from A-plus its underlying rating and long-term rating on Peoria City School District No. 150, Ill.'s outstanding general obligation debt.

Prices of top-rated municipal bonds were slightly higher at mid-session, with yields on some maturities as much as two basis points lower, according to traders. This is ahead of the nearly $9 billion in supply that will be seen this week.

With nine bills in the Legislature seeking to curtail the development of turnpikes in Texas, opponents see a chance to alleviate "toll fatigue."

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, down from 0.020% the prior week, and the six-months incurred a 0.075% high rate, up from 0.065% the week before.

Moody's Investors Service ratings will be available on the Municipal Securities Rulemaking Board's EMMA website later this year, ending the rating agency's long holdout from the site.

The Treasury Department said Monday it will sell $30 billion of four-week discount bills Tuesday.

Circumstances have changed and a different approach to Puerto Rico debt is warranted.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating on Berkeley County School District, S.C.'s general obligation debt one notch to AA from AA-minus.

Indicator Last Report Forecast Actual Personal Income Dec.: +0.3% Jan.: +0.4% Jan.: +0.3% Consumption Dec.: -0.3% Jan.: -0.1% Jan.: -0.2% Core PCE Dec.: unch Jan.: +0.1% Jan.: +0.1% Construction Spending Dec.: +0.8% Jan.: +0.3% Jan.: -1.1% ISM Manufacturing Jan.: 53.5 Feb.: 53.1 Feb.: 52.9

The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board's proposal to create baseline standards of professional qualification for municipal advisors.

Patrick T. Harker has been named president and chief executive officer of the Federal Reserve Bank of Philadelphia, the bank announced Monday.

Construction spending decreased 1.1% in January, the Commerce Department said Monday, and is 1.8% above the January 2014 level.

The overall economy grew for the sixty-ninth straight time, while the manufacturing sector expanded for the twenty-sixth consecutive month, the Institute for Supply Management reported Monday.

Federal government offices in the D.C. area have delayed openings Monday, so release of personal income and personal spending data at 8:30 a.m. construction spending data at 10 a.m. will be slightly delayed.