News and Information from Bond Buyer

For the first time in six months, California's tax revenues have come in lower than expected, according to a report from State Controller John Chiang

Ernesto “Ernie” Lanza is leaving his position as deputy executive director at the Municipal Securities Rulemaking Board to join the Washington office of Greenberg Traurig.

CUNY's journalism grad school is launching a five-year effort to improve state and local fiscal reporting, thanks to a major gift from New York civic leader Richard Ravitch.

Puerto Rico's May revenues provided the commonwealth scant progress toward closing its revenue shortfall for the fiscal year.

The California Department of Finance scored a win in its court battle with San Bernardino over money transferred to the city following the dissolution of its redevelopment agency.

President Obama signed into law Tuesday a $12.3 billion water infrastructure bill that funds 34 port, inland waterway, and flood control projects.

Fitch removed the GO rating of West Warwick, R.I., from rating watch negative and assigned a stable outlook while affirming its just-above-junk BBB-minus.

Standard & Poor's Ratings said it raised its long-term rating to AA-plus from AA and its dual ratings to AA-plus/A-1-plus from AA/A-1-plus on the University of Pittsburgh's existing debt.

Yields on the bonds from New York City's $850 million general obligation issuance were lifted two basis points during the second day of retail order period.

The estimated aggregate funded ratio of 150 state and local pension plans was unchanged at 72% in fiscal 2013 because actuarially smoothed assets only grew modestly and the California Public Employees' Retirement System significantly revised its reported funded ratio, the Center for Retirement Research at Boston College said in a new report.

Missouri is readying a roughly $90 million appropriation-backed refunding for sale next month with plans in the works to return next year with a rare new money issue for $200 million to fund a new mental health facility.

Louisiana Gov. Bobby Jindal has signed a bill requiring bond issuers to abide by continuing disclosure agreements, and requiring auditors to check for compliance.

Senate Budget Committee chairman Patty Murray says closing corporate tax loopholes would pay for federal transportation funding needed to avoid a shortfall in the Highway Trust Fund.

Five residents living near the Atlanta Falcons new stadium filed notice saying they will appeal a judge's validation of $278.3 million in bonds to support the $1.2 billion project.

San Juan Unified School District, Calif. front-loaded its bond repayment schedule with short-term debt to make sures a larger share the general obligation bond levy taxpayers pay goes to principal instead of interest.

The Treasury Department Tuesday auctioned $28 billion of three-year notes with a 7/8% coupon at a 0.930% yield, a price of 99.837787.

The Treasury Department Tuesday auctioned $30 billion of four-week bills at a 0.030% high yield, a price of 99.997667.

Investors' opinions conflict over how aggressively bid this week's competitive slate will be, especially the largest deal $116.51 million Lynchburg, Va., general obligation bonds, expected Tuesday.

Los Angeles Unified School District will price a $1.7 billion refunding into a market hungry for new bonds on Thursday.

Wholesale inventories increased 1.1% in April, the Commerce Department reported Tuesday.