News and Information from Bond Buyer

The Municipal Securities Rulemaking Board has asked the Securities and Exchange Commission to approve its proposal to require municipal securities dealers to seek the most favorable price possible when executing transactions for most investors.

The Puerto Rico Electric Power Authority's decision in its forbearance agreement to disclose certain information to only some its bondholders could put both PREPA and those investors at an increased risk of committing securities law violations, disclosure experts said Wednesday.

Today’s FOMC minutes indicated interest rate may be rising sooner than anticipated, favoring traders who have protected themselves by investing in floating rate debt, like today’s Kansas Department of Transportation deal.

Los Angeles Mayor Eric Garcetti strenthened his efforts to make the city more transparent with the appointment of a chief data officer.

General Treasurer Gina Raimondo has moved ahead of Providence Mayor Angel Taveras in the Democratic primary for Rhode Island governor, according to a poll.

The Massachusetts Department of Transportation has begun a program to identify areas under elevated roads, bridges and viaducts for redevelopment opportunities.

Detroit has asked the federal judge in charge of its Chapter 9 to consider forcing bond insurer Syncora Guarantee to issue an apology for suggesting that federal mediators have tainted the bankruptcy process.

The California Public Employees’ Retirement System has approved including additional types of pay that will count toward how pensions are calculated for recent hires, and Gov. Jerry Brown said the pension fund “got it wrong.”

Two school districts in the Houston area will account for more than $1 billion of bonds on the November ballot after their boards approved calling for voter support of the measures.

Everything from mileage-based fee systems to higher state fuel taxes are on the table as states seek new ways to increase transportation funding.

Moody's Investors Service said it has upgraded to Aa2 from Aa3 the underlying rating on Pearland Independent School District, Texas's general obligation debt.

Detroit Public Schools will move forward with a plan to issue $111 million of state aid notes as well as an updated deficit elimination plan that calls for 10% pay cuts and the closure of up to 24 schools.

North Carolina's Fayetteville Public Works Commission plans to price $110 million in revenue bonds in a rare competitive deal.

Labor market and inflation moved closer to the Federal Open Market Committee targets in the past few months, and if the progress speeds up, it may mean removing policy accommodation earlier than expected, according to the minutes from the most recent FOMC meeting, which were released Wednesday.

The Government Finance Officers Association has issued a new alert on the Municipalities Continuing Disclosure Cooperation initiative, offering guidance to issuers on how to make use of the extra time they were granted to participate in the program and explaining problems state and local governments face in performing due diligence.

New York City Comptroller Scott Stringer envisions further tweaks to city's pension system, which he and Mayor Bill de Blasio expect to reveal early next year.

Bids have waned for the troubled island's commonwealth and electric power authority debt, leaving traders to wonder if buy-side participants, who have dominated trading in Puerto Rico, believe the debt is nearing a top.

A group of ratepayers from a Chicago suburb are suing five advisors and consultants, accusing them of misrepresenting the value of participation in the bond-financed Prairie State Energy Campus to the city of Batavia.

Standard & Poor's Ratings Services said it has lowered its long-term rating on Griffin Lakes Community Development District, Fla.'s series 2008 special assessment revenue refunding bonds to BBB-plus from A-minus.

Standard & Poor's Ratings Services said it has raised its underlying rating on Fort Oglethorpe, Ga.'s water and sewer revenue bonds to A-plus from A-minus.