Investments

In the event that Moody's Investors Service strips the U.S. sovereign credit of its gilt-edged rating, top-rated state and local governments would be more at risk of a downgrade than similarly rated corporate or structured finance products.

BRADENTON, Fla. - Lambuth University in Jackson, Tenn., closed down academic operations Thursday while administrative offices remained open and negotiations continued with various parties for the payment of debts, including outstanding bonds.

On the heels of modest outflows last week, tax-exempt money market funds lost $4.66 billion and settled with $302.07 billion in total net assets for the week ended June 27, according to the Money Fund Report, a service of iMoneyNet.com.

ARKANSASVilonia School District No. 17 of Faulkner CountyJun 29, 2011 . . . . . . $5,605,000

ALABAMAConecuh CountyJun 29, 2011 . . . . . . $1,090,000

CALIFORNIASanta Rosa Elementary School DistrictJun 28, 2011 . . . . . . $4,950,000

ALABAMACullman Medical Clinic BoardJun 28, 2011 . . . . . . $7,250,000

The Navajo Nation is quietly planning to access the capital markets for the first time in its history within the coming six months.

Table as of: 06/27/2011 15:09 PM Invisible Supply Issuer and purpose Amount* Approval

IOWAMilford (City)Jun 27, 2011 . . . . . . $325,000

CALIFORNIAABAG Finance Authority For Nonprofit CorporationsJun 27, 2011 . . . . . . $2,370,000

Investors unhappy with low yields but not convinced of the merit in buying lower-graded muni credits to retain cash flow might be more attracted to another simple strategy: buy longer ­paper.

The Pennsylvania Higher Educational Facilities Authority plans to sell $118.4 million of Series AM fixed-rate, tax-exempt revenue bonds through competitive bid on Wednesday.

MASSACHUSETTSDuxbury (Town)Jun 22, 2011 . . . . . . $2,665,000

ALABAMAAlabama Board of EducationJun 24, 2011 . . . . . . $1,920,000

Investors put municipal bond mutual fund flows back in the black this past week. High-yield muni funds continued their strong performance.

The municipal bond market will see $5.6 billion of new issuance this week, with two $1 billion dollar deals topping the charts. Issuance is down from last week's revised $5.8 billion, according to Thomson Reuters.

Rhode Island's public colleges have proposed legislation to establish their own purchasing departments to spend money raised from tuition and fees.

Table as of: 06/23/2011 15:43 PM Invisible Supply Issuer and purpose Amount* Approval

ARKANSASBauxite School District No. 14 of Saline CountyJun 23, 2011 . . . . . . $4,945,000