News and Information from Bond Buyer

Buoyed by income tax revenue growth and reduced healthcare spending, Minnesota is on track to enjoy a more than $1 billion surplus, state fiscal officials said Thursday.

The municipal bond market saw the last of the week's big deals price on Thursday after as much as $8 billion of new supply poured into the market the day before. Yields on high quality munis declined, according to Municipal Market Data.

Municipal issuers' financial challenges are preventing them from issuing more bonds to take advantage of low interest rates, Virginia Treasurer Manju Ganeriwala said here on Thursday.

Newly issued Treasury securities held in stripped form increased about $1.434 billion in November to a total of $213.719 billion, the Bureau of the Public Debt reported Thursday.

On Nov. 17, the borough of Hopewell, N.J., (rated A1) was delinquent in the making the principal payment on its general improvement bonds and water utility bonds issued on November 30, 2005.

Mayor Bill de Blasio appointed Nilda Mesa as New York City's director of the new office of sustainability.

Hawaii Governor David Ige has named the state's pension chief to head the Department of Budget and Finance.

The Securities Industry and Financial Markets Association is seeking a legislative fix to the municipal advisor rule so that it is less burdensome for bank and broker-dealer firms, executives of a broker-dealer group said Thursday.

Moody's Investors Service said it has assigned a Aa2 rating to Merrimack County, N.H.'s $26.1 million 2014 general obligation refunding bonds, and upgraded to Aa2 from Aa3 the rating on $48 million of outstanding debt, including the current issue.

The municipal bond market is seeing the last of the week's big deals price after as much as $8 billion of new supply that came to market on Wednesday.

Fifteen years after opening at the site of the former Bergstrom Air Force Base, Austin Bergstrom International Airport is expanding through its $600 million capital improvement program. The project includes expansion of the terminal and aircraft apron, new baggage systems, accommodations for international flights, a new parking garage and consolidated rental car center.

Austin's $275 million of revenue bonds scheduled for pricing Dec. 9 will allow the city's growing airport to accommodate more international flights as it improves parking for aircraft and cars.

Former congressman and Bronx borough president Herman Badillo, who died Wednesday, was praised as a trailblazer and civil-rights leader.

Miami-Dade County will pay the Internal Revenue Service to settle a tax problem with a seaport revenue bond issue after the city sought a voluntary settlement.

Legal rulings in the Detroit and Stockton bankruptcies raise questions about treatment of bondholders relative to other creditors in future municipal bankruptcies, according to a Fitch Ratings report.

Arkansas revenues were 11.8% higher than the same month last year and 6.8% above forecast, according to John Shelnutt, state director of economic analysis and tax research.

The Treasury Department said it will auction $13 billion 29-year, 11-month 3 1/8% bonds on Dec. 11.

The Treasury Department said it will auction $21 billion 9-year, 11-month 2 1/4% notes on Dec. 10.

The Treasury Department said it will auction $25 billion three-year notes on Dec. 9.

The Treasury Department said it will auction $25 billion year bills on Dec. 9.