General obligation bonds

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.

The bonds, expected to be rated Aa2 by Moody's, will will be among the earliest general obligation bonds sold by Kentucky school districts since the state passed a law in April allowing such debt by school districts.

Municipal bond market participants say a proposed constitutional amendment targeting property tax revenue would increase borrowing costs and lead to litigation.

Texas' largest school district, which was taken over by the state last year, is seeking voter approval for bonds for the first time since 2012.