News and Information from Bond Buyer

Illinois Gov. Pat Quinn will lay out a fiscal 2015 budget proposal and reveal how he plans to deal with a looming income tax rate rollback. The Chicago Tribune is reporting the plan makes permanent the tax increase.

Moody's affirmed its A3 rating on $19.7 million Series 2006 revenue bonds by the Lancaster County Solid Waste Management Authority, the agency that bought Harrisburg's incinerator.

The Governmental Accounting Standards Board unanimously voted not to delay the implementation of new reporting requirements for governments that provide their employees with pensions, after the Government Finance Officers Association and other groups pressed for a postponement.

Moody's Investors Service said it has downgraded Zion Park District, Ill.'s general obligation unlimited tax rating to Baa3 from Baa1 and has downgraded the district's general obligation limited tax debt certificates to Ba1 from Baa2.

Municipal bonds are a better option than P3s for water utilities, an environmental advocate told a special House P3 panel Tuesday.

Puerto Rico general obligation bonds from the commonwealth's $3.5 billion issuance are trading at their highest yield since their initial sale, although they've come off the morning's highs.

Standard & Poor's Ratings Services said it raised its long-term rating to A-minus from BBB-plus on John C. Lincoln Health Network, Ariz.'s existing revenue bonds, issued by the Glendale Industrial Development Authority.

Standard & Poor's Ratings Services said it lowered its long-term rating to BB from BB-plus on Hopkins County Hospital District, Texas' $22.7 million series 2008 hospital revenue bonds.

Standard & Poor's Ratings Services said it raised its underlying rating to AA from AA-minus on San Jose-Evergreen Community College District, Calif.'s general obligation bonds outstanding.

Kentucky legislators, who disagree on the biennial budget and amount of bonds, now go to conference.

Standard & Poor's Ratings Services said it has lowered the long-term rating to B from BB on the Michigan Finance Authority's $17.4 million series 2011 public school academy limited obligation revenue bonds issued for Voyageur Academy (Voyageur) and placed the rating on CreditWatch with negative implications.

The authority planning a long-stalled bridge across Alaska's Knik Arm wants lawmakers to shift the project from a public-private partnership to traditional public financing.

New York's State Department of Health is this year's winner of the Citizens Budget Commission prize of public service innovation.

New Mexico is facing a new round of litigation over school funding after a lawsuit was filed on behalf of poor and Spanish-speaking students.

Seven years after voters approved bonds to improve the Boettcher Concert Hall, Denver is ready to get the show on the road.

Municipal strategists are recommending non-traditional ways to manage the risk of rising interest rates after a surge in the price of short term bonds.

Georgia lawmakers passed a $42.4 billion budget and a constitutional amendment that, if passed, would prohibit legislators from increasing the state income tax.

The Treasury Department Tuesday auctioned $32 billion of two-year notes with a 3/8% coupon at a 0.469% yield, a price of 99.813097.

Retail pricing began Tuesday for the Pennsylvania Turnpike Commission's $236 million sale of Series 2014A senior turnpike revenue bonds.

The city of Flint and Genesee County in Michigan and their new Karegnondi Water Authority are bringing $220 million of bonds to market to finance their breakaway from the Detroit Water and Sewerage Department and build their own 63-mile pipeline to Lake Huron.