Higher education bonds

A record amount of Build America Bond issuance helped municipal market volume gush to $41.7 billion in November, or 8.9% more than in the same month last year.

The Pennsylvania Higher Education Assistance Agency disclosed Friday that it is complying with an additional information request from the Internal Revenue Service as part of the IRS’ ongoing review of the agency’s student-loan bonds.

The Kansas Board of Regents has adopted new financial rules that will make it easier to refinance outstanding bonds issued for capital improvements at the six state colleges and universities.

The Arkansas Higher Education Coordinating Board has approved bond proposals from the University of Arkansas for Medical Sciences and the University of Arkansas at Fort Smith.

CHICAGO — Ohio will enter the market Monday with $300 million of tax-exempt bonds and taxable Build America Bonds to finance higher education capital projects across the state.

WASHINGTON — The ­Securities and Exchange Commission would violate the Tower Amendment and the principles of federalism if it applies its proposed rules on asset-backed securities to municipal bonds, 14 market groups warned this week.

CHICAGO — A new bond-issuing authority made up of the University of Nebraska and the city of Lincoln will take competitive bids Wednesday on nearly $100 million of recovery zone economic development bonds and Build America Bonds.

Texas Rep. Mike Villarreal, D-San Antonio, has proposed legislation that would allow three state schools in San Antonio to issue $223 million of debt supported by tuition revenues to finance new facilities.

When Adelphi University in Long Island, N.Y., goes to market this week with $25 million of tax-exempt bonds, it will use a resurrected conduit issuer to get around the lack of industrial development agency financing.

Fitch Ratings downgraded to junk its rating on $45.1 million of economic development revenue refunding and improvement bonds issued by the city of Anderson for Anderson University.

The New Jersey Educational Facilities Authority approved the appointment Monday of James Stephen Poole, a former director of the state’s Office of Public Finance, to head the higher-educational bonding agency.

New bond-financed higher education facilities must include a dedicated maintenance fund before the projects will be approved, under a new policy adopted last week by the Arkansas Higher Education Coordinating Board.

CHICAGO — Indiana’s Purdue University will price $171 million of new-money and refunding bonds Thursday, and follow the sale with a $117 million borrowing in the next few weeks that will mark its fourth trip to market this year.

SAN FRANCISCO — The University of California will sell $760 million of mostly taxable Build America Bonds next week to help finance upgrades to three medical centers.

KnowledgeFunding Ohio Inc., a nonprofit group that issues tax-exempt bonds and buys student loans, has launched a new website for bondholders.

BRADENTON, Fla. — The newly created Florida Education Investment Trust Fund has hired PFM Asset Management LLC as its investment adviser.

University of Oklahoma Board of Regents last week gave final approval for a $48 million revenue bond issue to finance a fourth building at the university’s Partners Place research campus.

The Dormitory Authority of the State of New York gave both preliminary and final approvals Wednesday to up to $1.4 billion of bonds for education, higher education, and health care projects at a board meeting in Albany.

CHICAGO — Midwestern voters next week go to the polls to decide the fate of $2.16 billion worth of borrowing requests, choose new governors, and decide spending and taxing measures.

CHICAGO — The triple-A rated University of Michigan Wednesday will sell $220 million of general revenue bonds to finance part of its 10-year, $5.5 billion capital plan.