News and Information from Bond Buyer

The Kansas City, Mo. City council has approved a measure that requires any plan that calls for the demolition and reconstruction of terminals at city-owned airports to go to voters.

Government

A proposed settlement between Monticello, Minn., and investors holding its defaulted $26.4 million of telecommunication revenue bonds is advancing with the filing of a new class action bondholder lawsuit that is considered part of the settlement process.

Holders of Detroit's general obligation bonds are among the biggest losers in the city's debt plan, and that's prompting some muni market participants to call for a fresh look at how GOs are viewed.

Maine's Republican Governor and Democratic leaders have renewed clashing over bonds.

A.T. Still University of Health Sciences in Missouri received a first time rating of A3 from Moody's Investors Service.

Public pension plans should not be funded with instruments that bear risk or delay cash funding such as pension obligation bonds, a panel commissioned by the Society of Actuaries warned in a report released Monday

The Wisconsin Legislature's powerful Joint Finance Committee approved along party lines a $500 million tax cut package last week.

S&P raised its GO rating for Amherst, Mass., home of the University of Massachusetts, to AA-plus from AA, citing the town's strong budgetary performance.

The top two members of the Kenton County Airport Board have resigned amid a special examination into spending practices by Kentucky Auditor Adam Edelen.

Rhode Island's proposed settlement to pension overhaul lawsuits is a credit positive because it “removes a lingering source of fiscal uncertainty,” said Moody's.

The Securities and Exchange Commission has approved a new rule that will require underwriters of 529 college savings plans to submit more in-depth financial information to the Municipal Securities Rulemaking Board twice a year.

A Georgia judge delayed the validation of $278.3 million in revenue bonds supporting the Atlanta Falcons' new stadium to hear opposing arguments.

The MTA board's finance committee approved a discount for frequent users of the Verrazano-Narrows Bridge. The full board will consider it Wednesday.

California's Department of Water Resources is planning to sell $165 million of water revenue bonds to finance construction on a water system and to refund outstanding debt.

Standard & Poor's Ratings Services said it has lowered its long-term rating and underlying rating to A from A-plus on Washington Health Care Facilities Authority's and the Oregon Facilities Authority's revenue bonds issued on behalf of PeaceHealth, Wash.

Federal Railroad Administration gave California's bullet train authority another 90 days to come up with $180 million of state match for federal spending.

Trading in the municipal market crept into the week Monday as a dearth in bonds kept activity light. The amount of Puerto Rico trading slid.

The judge overseeing Detroit's bankruptcy case released a schedule Monday that sets hearings through June to consider the city's effort to shed its debts and move out of Chapter 9.

The Idaho Bond Bank Authority priced the largest competitive bond sale in its history and won good interest rates after healthy bidding, said advisor Cameron Arial of Zions Bank Public Finance.