News and Information from Bond Buyer

Sen. David Vitter, R-La., has reintroduced legislation that would prevent the federal government from providing assistance to any state or local government, including loans, loan guarantees, lines of credit, and grants. It would, of course, have exceptions for responses to disasters like Hurricane Katrina.

Municipal bond volume in January surged from the same month last year, driven by refundings as issuers took advantage of lower interest rates.

Puerto Rico's House of Representatives on Thursday passed bills authorizing a bond up to $225 million for public works.

Connecticut's Bond Commission approved $5.1 million to create two microgrid projects in Bridgeport and Milford that will help keep critical buildings and facilities powered in case the electric grid goes down.

Wisconsin is offering up more than $500 million of general obligation paper in the coming weeks, first in a $280 million new money issue selling Tuesday and then in a $260 million refunding slated for later in February.

Issuance is expected to approach $9 billion in the coming week as February brings a $1 billion Pennsylvania competitive general obligation offering that was postponed because of the Jan. 26-27 blizzard in the Northeast.

Standard & Poor's Ratings Services said it lowered its long-term rating to B from BBB-plus on Alabama State University.

The economy has momentum and gross domestic product should increase 3% this year with the unemployment rate dropping to 5%, leaving the middle of the year as a "good guess" for when the Fed will consider rate hikes, Federal Reserve Bank of San Francisco President John Williams said in a televised interview Friday.

Chicago Mayor Rahm Emanuel's top infrastructure priorities if re-elected to a second term are safe and efficient transit options, expanding access to parks and recreational areas, and creating more anchors for economic growth in city neighborhoods.

Moody's Investors Service said it has downgraded to A2 from A1 the underlying rating on Woodmore Local School District, Ohio's outstanding general obligation unlimited tax debt.

Moody's Investors Service has upgraded to Ba2 from Ba3 the rating on Brooklyn Center Independent School District 286, Minn.'s general obligation unlimited tax debt.

Moody's Investors Service downgraded Texas school bus operator Dallas County School District's $67 million of general obligation debt to Baa1 from A3 and retained a negative outlook.

Public power utilities in five southern states most likely face fiscal challenges in complying with the EPA's Clean Power Plan, a new index by Fitch Ratings shows.

New study recommends adding a separate account within the Highway Trust Fund for multimodal transportation infrastructure projects.

Moody's Investors Service said it has upgraded Stark County, Ohio's general obligation limited tax rating to Aa2 from Aa3.

The appointment of an emergency manager for Atlantic City has led many to question whether the city is heading for bankruptcy, which would mark long uncharted territory for the Garden State.

Clarke Howatt, finance director for the Association of Bay Area Governments, is being sought by San Francisco law enforcement officials in the theft of $1.3 million in bond money from a regional planning agency, according to the San Francisco Chronicle.

Standard & Poor's Ratings Services said it raised its underlying rating on the Valley Regional Fire Authority, Wash.'s outstanding general obligation bonds two notches to AA-minus from A.

Prices of top-quality municipal bonds were stronger with Treasuries at mid-session, traders said, after the GDP report showed the U.S. economy grew more slowly than had been expected.