General obligation bonds

Ohio legislators plan to vote Wednesday on a resolution that would put a $2.5 billion general obligation bond measure on statewide ballots May 6.

The county commission, which sued Oklahoma City in June over its denial of permit for the jail site, is pursuing a possible settlement.

The county is reviewing responses to a request for proposals to help fund construction of a replacement jail through a bond-financed lease-purchase arrangement.

Omaha voters approved six general obligation bond measures totaling $333.4 million last week, none of which required a tax increase.

Cleveland returns to market Wednesday in the first of two bond deals this month. That $64.4 million GO deal funds public parks, bridges and road improvements.

The city of Clyde defaulted in August and recently revealed it used debt proceeds for debt payments in a manner that "disguised the deficit cash flow."

The districts, which finance public infrastructure for housing developments, are dealing with limited revenue growth and state actions to cut property taxes.

Fitch also upgraded the city's Georgia Municipal Association certificates of participation (city of Atlanta public safety projects) to AA-plus from AA.

The high-grade issue is expected to be well received by the market. D.C. joins a growing list of issuers refunding outstanding BABs amid lower rates.

The one-notch general obligation and certificates of participation rating downgrades resulted from the application of Fitch's updated criteria.