News and Information from Bond Buyer

Missouri Gov. Jay Nixon is warning that the Legislature's $620 million tax cut legislation could end up costing the state more than $4.8 billion in revenue.

The North Carolina Department of Transportation has named David Tyeryar as the agency's new chief financial officer.

Cedar Rapids, Iowa has lost its top credit marks from Moody's Investors Service.

Municipal bond buyers are unfazed by an inevitable interest rate hike as long-term bonds remain the best investment in the $3.8 trillion municipal market.

Fiscal problems, unfunded pensions, and bond covenant violations plague the small city of Bogalusa, La., according to a state audit review and site visit.

Detroit emergency manager Kevyn Orr said a handful of major infrastructure projects and the city's thriving downtown will help drive a revival that mirrors places like Miami and Baltimore.

Oklahoma Gov. Mary Fallin is expected to sign bill cutting top state income tax rate to 5%.

Moody's Investors Service said it has downgraded the Philadelphia Corporation for the Aging's Series 2001A (taxable) and 2001B (tax-exempt) ratings to Baa2 from Baa1.

A review from Fitch Ratings of sales tax revenues among local governments in California shows the economic recovery has been uneven.

Municipal bond yields lagged Treasury interest rates this past week, after the ratio between the two touched a year-to-date low early in the week.

Palo Alto, Calif.-based Lucile Salter Packard Children's Hospital received Double A ratings from the three top rating agencies ahead of plans Monday to price $100 million in fixed-rate revenue bonds and $100 million of unrated, private placement, variable rate bonds.

The Bellefontaine City School District in Ohio has disclosed that it intends to redeem some or all of the $14.19 million of Build America Bonds it issued in 2010 because of reduced subsidy payments due to sequestration.

Metropolitan Washington Airports Authority accepted the first segment of the $5.7 billion Silver Line train extension to Dulles Airport from the contractor.

To aid Puerto Rico's struggling economy, Gov. Alejandro García Padilla plans to incorporate ideas from a growth and competitiveness task force in his state of the commonwealth speech.

Standard & Poor's Ratings Services said it lowered to A-minus from A its long-term and underlying ratings on Lake County, Ind.'s existing debt, issued for and on behalf of the Lake County Park and Recreation District.

The Securities and Exchange Commission's new program allowing issuers and underwriters to "self-report" disclosure failures could be a game changer, according to some market participants.

Municipal bonds strengthened Friday morning, capping off a week of solid performance despite receiving the biggest slate of new bonds since early March.

Moody's Investors Service said it has downgraded to Baa1 from A2 the general obligation rating on Hanover Park Park District, Ill.

New York City Comptroller Scott Stringer on Friday called for allocating an additional $1 billion to emerging managers — which include so-called minority and women business enterprises — of the city's five public pension funds.