News and Information from Bond Buyer

Bankrupt Jefferson County, Ala., sold $1.8 billion of new sewer warrants following a three-day pricing, County Commission President David Carrington said Tuesday night.

A New York State commission recently recommended a major revision to the state's taxes.

Government

Citi priced $1.78 billion of Jefferson County sewer revenue warrants Tuesday in the biggest deal of the week, cutting prices on senior debt from the retail ordering period.

Fitch Ratings revised its outlook on Pawtucket, R.I., general obligation bonds to positive while affirming its BBB-minus rating, barely above junk level.

FirstSouthwest, a Texas-based broker-dealer and financial advisor, has protested two request for proposals for financial advisors issued by Los Angeles that bar underwriters from applying.

Maryland Treasurer Nancy Kopp has been appointed to the board of trustees of the Financial Accounting Foundation, FAF announced Tuesday.

Counties are facing a "triple threat" of tax reform, entitlement reform and sequestration, National Association of Counties Executive Director Matthew Chase said at a briefing on Capitol Hill Tuesday.

Connecticut budget chief Benjamin Barnes said the state is fiscally sound, despite projected deficits totaling $1.4 billion in fiscal years 2016 through 2018.

Chicago plans to enter the market Thursday with $326 million of Midway International Airport second lien refunding bonds in a long planned restructuring that was on hold as the city pursued a privatization deal.

Fitch Ratings affirmed ratings on Miami's bond issues citing improved finances but said there is fiscal uncertainty due to legal challenges.

The federal government will swap obsolete office buildings in Washington for more modern facilities through P3 arrangements.

Moody's Investors Service this year has downgraded nearly a quarter of the local school districts it rates in Michigan, a big jump from last year that reflects growing budget strains and challenges.

The Illinois Finance Authority approved plans by long-struggling East St. Louis to free itself from state advisory oversight and laid the groundwork for Pace suburban bus service to borrow for capital projects.

Secondary trading activity slowed Tuesday afternoon as traders said bonds are harder to buy as yields grind lower and turn to cheaper deals in the primary.

The Pennsylvania agency overseeing Harrisburg's financial recovery has petitioned a court to extend the term of city receiver William Lynch for two more years.

Maryland State Treasurer Nancy K. Kopp has been tapped to serve on the Financial Accounting Foundation (FAF) Board of Trustees.Kopp, who was first elected Maryland State Treasurer in February 2002, will begin her trustee role with the FAF effective Jan. 1, 2014. The FAF, which is the independent, private-sector organization responsible for the oversight of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB), announced the Kopp’s appointment to a five-year term on Tuesday afternoon. She will replace retiring Trustee Cynthia P. Eisenhauer, a government financial management consultant and former chief of staff for Iowa Governor Tom Vilsack, whose term ends on December 31, 2013.

Detroit has not reallocated payments for its unlimited-tax general obligation bonds because those bonds are tied up in federal mediation talks, the city said Monday.

The National Association of State Treasurers is holding an issue conference on “Public Funds Management” in New York City from Dec. 3 to Dec. 5.

The Treasury Department Tuesday auctioned $45 billion of four-week bills at a 0.060% high yield, a price of 99.995333.