News and Information from Bond Buyer

The Connecticut Bond Commission approved the authorization of nearly $15 million in funding for nonprofit organizations.

An independent accountant hired by the Long Beach Community College District in California has estimated that the district may have to pay about $1.73 million to settle with the Internal Revenue Service under the agency's voluntary closing agreement program, an issuer official said.

Alabama saved nearly $20 million on a July 24 refinancing of $200 million of outstanding general obligation bonds.

The Chicago Infrastructure Trust hopes to launch a competitive selection process this fall for private partners in its third energy retrofit project – city outdoor lighting upgrades.

The Securities and Exchange Commission's new money market fund rules will make MMF investors more conservative while retaining the funds' usefulness for most market participants, including tax-exempt investors and municipalities, according to a new report from Moody's Investors Service.

Some issuers are redeeming their Build America Bonds even as there is uncertainty over how the reissuance rules apply to the bonds, bond lawyers said.

Brian Zwerner, former manager of Bank of America's municipal derivatives trading desk, received three years' probation and a $10,000 fine for mini bond bid-rigging

A court of appeals upheld a proposed route connecting the San Francisco Bay Area to the Central Valley for California's $68 billion high speed rail project.

The Agriculture Department and CoBank have formed a $10 billion fund to spur private investment in rural public infrastructure.

Many analysts see a default by the Puerto Rico Electric Power Authority as a probability, though they differ in how that would happen and what the impact of the default would be on other Puerto Rico credits.

The outcome of Detroit's high-profile bankruptcy case could influence how other distressed Michigan governments prioritize their own retirement obligations against other types of debt, Moody's Investors Service said.

Traders were attempting to unload bonds in the belly of the curve as the market strengthened on Friday.

Municipal Assurance Corp., Assured Guaranty's municipal-only business, has been licensed by the California Department of Insurance to write financial guaranty insurance in the state alongside its affiliates Assured Guaranty Municipal Corp. and Assured Guaranty Corp.

A Rhode Island Superior Court judge will hear a petition by bondholders to oppose receivership for Wyatt Detention Center in Central Falls, saying the city is using the process to cram them down.

Kroll Bond Rating Agency has reached agreement with the Municipal Securities Rulemaking Board to have the agency's ratings available on EMMA.

After a relatively healthy week of issuance totaling roughly $6 billion, the primary market will cool off, with no competitive deals scheduled to close Friday, according to data provided by TM3, and weekly issuance forecast to slip to $4.2 billion next week, according to Ipreo and The Bond Buyer.

The Detroit Public Library said it will be forced to close its doors if voters reject a 10-year tax renewal on the Aug. 5 ballot.

Moody's Investors Service downgraded the issuer credit rating of the metro Detroit suburb of Mount Clemens by two notches to A2 from Aa3, two weeks before voters consider a property tax increase.

Indicator Last Report Forecast Actual Initial Jobless Claims 7/12: 302,000 7/19: 308,000 7/19: 285,000 Continuing Claims 7/5: 2.507M 7/12: 2.510M 7/12: 2.500M New Home Sales May: 504,000 June: 480,000 June: 406,000