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Government

The Texas Permanent School Fund that backs Texas public school bonds earned record income from oil and gas production in the fiscal year ended Aug. 31.

Allowing one person to appoint members to the Cincinnati/Northern Kentucky International Airport board is "atypical" compared to similar airports, said Fitch.

Any sale of the art in the Detroit Institute of Arts would make the DIA "persona non grata in the museum world," a museum official and an art finance consultant testified at a trial on the city's bankruptcy exit plan.

The $181 million Savannah College of Art and Design Projects revenue bonds demonstrated investors' appetite for triple-B.

The Internal Revenue Service's tax-exempt bond office is modifying its market-segment approach to audits, the office's director, Rebecca Harrigal, said.

Reports that Fitch Ratings has come to an opinion on the rating for the Michigan Strategic Fund's upcoming limited obligation revenue bonds series 2014A (Events Center Project) are erroneous, the agency said in a release.

Moody's Investors Service said it downgraded the rating on the Rickenbacker Port Authority, Ohio's capital funding revenue bonds, Series 2002A (OASBO Expanded Asset Pooled Financing Program) to A2.

Massachusetts has come to terms with a Greater Boston transit union to release long-secretive pension data.

Orange County, Calif. registered voters surveyed by an opponent of a Foothill/Eastern toll road extension expressed skepticism about those extension plans.

Standard & Poor's Ratings Services said it raised its rating to BBB-plus from BBB on the Perris Public Financing Authority, Calif.'s 2009A subordinate tax allocation bonds, issued for the 1987 Project Area.

Moody's Investors Service said it has downgraded the long-term debt rating on the University of Louisville's outstanding general receipts and consolidated educational building debt to Aa3 from Aa2.

A projected $1.8 billion gap in Wisconsin's next two-year budget has Gov. Scott Walker on the defensive as he seeks re-election. Polls show whim in a tight contest with Democratic challenger Mary Burke.

House committee okays plan to cut Amtrak's allocation for capital projects to $770 million a year from the current $1.3 billion.

The Securities and Exchange Commission will probably use emergency court action to stop state and local governments from selling municipal bonds if it thinks their offerings are fraudulent, an enforcement division official told bond lawyers meeting here.

Indiana officials are watching closely as the private firm that operates the Indiana Toll Road under a historic $3.8 billion 75-year agreement reportedly teeters on the edge of bankruptcy and considers a sale of the lease.

The Treasury Department sold $13 billion of inflation-indexed nine-year 10-month TIPs at a 0.610% high yield, an adjusted price of 95.721526, with a 1/8% coupon.

Tennessee's revenue collections exceeded estimates in August by 3.7%, said Finance and Administration Commissioner Larry Martin.

Treasuries strengthened on Thursday morning as investors anticipated European currency volatility if Scotland is successful in achieving its independence.

Partnerships between governmental or nonprofit entities and private entities should be treated favorably under private-activity bond and 501(c)(3) bond rules, the National Association of Bond Lawyers argued.