News and Information from Bond Buyer

Three senators hope to offer an amendment on Senate floor that rejects budget gimmicks and requires passage in 2014 of a longer term transportation funding measure.

The Kansas Public Employees Retirement System is under investigation by the Securities and Exchange Commission for its pension disclosure practices, a probe that began in 2010, according to a KPERS spokeswoman and bond documents.

Rep. Tom Reed, R-N.Y., earlier this month introduced a disaster tax relief bill in the House that includes several bond provisions and is similar to legislation introduced earlier this year in the Senate.

The Municipal Securities Rulemaking Board on Tuesday filed a revised proposal with the Securities and Exchange Commission to require dealers to provide annual municipal securities training for registered persons who regularly conduct or supervise muni business.

The plight of State Highway 130 outside Austin, Texas, is a stark example of the risks involved in building toll roads in undeveloped areas, according to Fitch Ratings.

Since the release of the Securities and Exchange Commission's final municipal advisor registration rule in September 2013, the Bond Dealers of America and its members have dedicated significant efforts and resources to work with regulators, educate issuers and ultimately be prepared to make a successful implementation of the rule.

Fitch Ratings has upgraded the ratings on more than $1 billion of outstanding revenue bonds issued for Stanford Hospital & Clinics.

Despite significant obstacles, Detroit's proposed plan of adjustment to exit its Chapter 9 bankruptcy is feasible, according to Martha Kopacz, the municipal finance expert hired by the bankruptcy court to assess the plan.

Enthusiasm for this week's new issuances is waning as market participants said that they anticipant most of the deals not to be exciting where yield is concerned.

The Treasury Department Tuesday auctioned $25 billion of 364-day bills at a 0.110% high yield, a price of 99.888778.

The Treasury Department Tuesday auctioned $35 billion of four-week bills at a 0.025% high yield, a price of 99.998056.

A special commission brainstormed about the long-term prospects for New York's Metropolitan Transportation Authority, one of the largest municipal issuers. The authority is in need of modern thinking about how to finance and provide its services, many members said.

MUFG Union Bank NA, the United States unit of Japan's biggest bank, plans to climb the ranks among U.S. municipal underwriters by focusing on the largest issuers.

Existing home sales rose 2.6% to a seasonally adjusted 5.04 million-unit rate in June from a revised 4.91 million pace the previous month, the National Association of Realtors announced Tuesday.

Detroit’s retirees and employees endorsed the city’s proposed plan of adjustment while holders of the city’s limited tax general obligation bond holders and certificates of participation rejected it, according to the voting results released late Monday by the federal bankruptcy court.

The $722.9 million New Mexico Municipal Energy Acquisition Authority gas supply revenue refunding bonds are grabbing investors focus this week because of the deal's size and because there are not many New Mexico bonds in the market.

Jul. 22, 2014 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.16 1.45 2.55 3.64 Arkansas Aa1/AA/NR 0.11 1.28 2.32 3.4 Colorado Aa1/AA/NR 0.12 1.37 2.47 3.56 Kansas Aa1/AA+/NR 0.11 1.33 2.39 3.47 New Mexico Aaa/AA+/NR 0.11 1.29 2.36 3.45 Oklahoma Aa2/AA+/AA+ 0.12 1.36 2.44 3.53 Texas Aaa/AAA/AAA 0.11 1.27 2.32 3.39 Utah Aaa/AAA/AAA 0.11 1.25 2.24 3.31

7/22/2014 7/14/2014 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 1 $25,000 1 $25,000 $0 Arkansas 4 20,255 1 3,865 16,390 Colorado 2 36,200 5 73,440 -37,240 Kansas 9 71,945 9 333,060 -261,115 New Mexico 5 790,790 1 57,115 733,675 Oklahoma 3 26,520 1 12,000 14,520 Texas 46 1,368,394 48 961,635 406,759 Utah 1 155,435 0 0 155,435

Tuesday, July 22 Issuer St Description Amount