News and Information from Bond Buyer

Minnesota Gov. Mark Dayton signed legislation authorizing $1.1 billion in mostly bond-financed infrastructure spending and extending the state's ability to do negotiated bond sales for four years.

The California drought will have negative impacts on agriculturally-dependent areas, but will not impact the credit quality of the state and local governments, according to Moody's Investors Service.

Federal, state and local elected officials joined LA Metro in announcing the receipt of a $1.25 billion full funding grant agreement from the Federal Transit Administration for its Purple Line subway extension.

Businessman Tom Wolf won the Democratic primary for Pennsylvania governor and will challenge incumbent Republican Tom Corbett in the general election.

Raymond James Wednesday priced $190.145 million Dallas and Fort Worth, Texas, airport joint revenue improvement bonds, bringing much needed yield to the muni market.

The Puerto Rican company is looking to shore up its capital levels after the FDIC invalidated about 40% of its Tier 1 capital. Management will have plenty of challenges as it looks to fill the capital hole.

May. 21, 2014 Midwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Illinois A3/A+/A+ 0.35 1.97 3.29 4.37 Indiana Aaa/AAA/AA+ 0.15 1.23 2.3 3.38 Iowa Aaa/AAA/AAA 0.15 1.24 2.29 3.37 Michigan Aa2/AA/AA 0.2 1.38 2.48 3.59 Minnesota Aa1/AA+/AA+ 0.15 1.2 2.24 3.28 Missouri Aaa/AAA/AAA 0.15 1.17 2.17 3.25 Nebraska NR/AAA/AA+ 0.17 1.29 2.38 3.45 North Dakota Aa1/AA+/NR 0.16 1.27 2.35 3.43 Ohio Aa1/AA+/AA+ 0.16 1.28 2.34 3.45 South Dakota NR/AA+/NR 0.16 1.28 2.39 3.48 Wisconsin Aa2/AA/AA 0.16 1.27 2.37 3.46

5/20/2014 5/13/2014 State # Iss Amount ($000) # Iss Amount ($000) Chg in Amt ($000s) Illinois 5 $157,040 6 $29,795 $127,245 Indiana 12 185,040 8 61,007 124,033 Iowa 4 39,985 13 114,225 -74,240 Michigan 8 132,350 9 72,800 59,550 Minnesota 23 97,330 19 63,825 33,505 Missouri 5 999,430 7 360,150 639,280 Nebraska 1 12,600 0 0 12,600 North Dakota 0 0 3 83,000 -83,000 Ohio 7 272,173 4 166,100 106,073 South Dakota 0 0 0 0 0 Wisconsin 20 85,270 18 84,675 595

Wednesday, May 21 Issuer St Description Amount

Wednesday, May 21 Issuer St Description Amount

Wednesday, May 21 Issuer St Description Amount

Week Of May 19 Issuer St Description Amount

CALIFORNIA

ARKANSAS

The Good Shepherd Medical Center serving East Texas is on the verge of losing its Moody's Investors Service investment-grade rating of Baa3, analysts said.

Puerto Rico's banks are in difficult straits, analysts from Standard & Poor's and Fitch Ratings said Tuesday.

Government

Rhode Island House Speaker Nicholas Mattiello and Majority Leader John DeSimone plan to meet with Moody's and S&P in New York to discuss the possible fallout of missing 38 Studios-related bond payments.

The $192.16 million Dallas Fort Worth, Texas joint revenue improvement bond scheduled for pricing on Wednesday may be expensive because of the lack of supply in the market, a trader who usually purchases the Texas cities' debt said.

The Internal Revenue Service is auditing $26.56 million of first mortgage revenue and refunding bonds issued in 2008 by Lakeland, Fla. to help the nonprofit, Carpenter’s Home Estates, Inc., finance the expansion of a continuing care retirement community.