News and Information from Bond Buyer

Minnesota Gov. Mark Dayton is promoting a nearly $1 billion capital bonding package as a means to create more than 27,000 jobs while investing in statewide infrastructure improvements.

Despite California Gov. Jerry Brown's efforts to reduce prison overcrowding, a favorable ruling from a U.S. District Court three-judge panel that would lift court oversight of the state's prisons has remained elusive.

State officials filed an application Thursday in the Commonwealth Court of Pennsylvania to vacate the receivership for capital city Harrisburg.

Moody's Investors Service said it has upgraded to Aa3 from A1 the rating on $4.6 million of Rock County, Minn.'s general obligation bonds.

Moody's Investors Service has placed 256 local government general obligation ratings on review, some for upgrade and some for downgrade, after updating the methodology it uses to evaluate those bonds.

Leaders of the House Transportation and Infrastructure Committee have established a special bipartisan panel to promote the use of public-private partnerships across all modes of transportation, economic development, public buildings and water infrastructure

The Chicago Infrastructure Trust's inaugural financing had to shrink to $13 million from $27.5 million and alter other terms to reduce investor risk in order to secure a lender.

Standard & Poor's Ratings Services said it raised its long-term rating and underlying rating to BBB-plus from BBB on Grant County Public Hospital District No. 1 (Samaritan Healthcare), Wash.'s limited-tax general obligation bonds.

Senate Banking Committee chairman warns that Congress must act to protect the main source of federal transportation funding before it dries up.

Tax-exempt money market funds lost nearly half of the robust inflows they accumulated last week, as $2.47 billion of outflows marred the second week of 2014 and reduced total net assets to $272.24 billion in the week ended Jan. 13, according to The Money Fund Report, a service of iMoneyNet.com.

Despite the volatility and uncertainty that saturated the tax-exempt market in 2013, municipal bonds are in high demand at Milwaukee-based Robert W. Baird & Co. due to their attractive risk to reward and overall safety, according to senior vice president B. Craig Elder.

Rhode Island Gov. Lincoln Chafee proposed a $275 million bond referendum in November and a $12.5 million payment of 38 Studios moral obligation debt.

Municipal bond yields, which softened this week after a rally in the beginning of January, began to firm Thursday as new deals were well-received in the primary market.

Federal Reserve Chairman Ben S. Bernanke defended quantitative easing, saying it has helped the economy while posing little risk of inflation.

Municipal bonds were steady Thursday morning as yields remained at higher levels than the previous week, when tax-exempt bonds rallied.

The Treasury Department said Thursday it will auction $28 billion 91-day bills and $25 billion 182-day discount bills Monday.

After years developing a public-private partnership for a $1 billion Miami Beach Convention Center hotel and entertainment district, city commissioners called off the deal.

Michigan Gov. Rick Snyder has reportedly asked lawmakers to come up with $350 million to match private foundations' commitment to support Detroit's pension funds and art collection.

The region's manufacturing sector expanded at a faster pace in January, as the general business conditions index climbed to 9.4 from 6.4 in December, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.