Investments

CHICAGO — New procurement rules aimed at curbing pay to play in contracts awarded by Illinois, its agencies, and its public universities could dampen the flow of creative financing ideas from the public finance community, some market participants believe.

DALLAS — The Houston Community College System is maximizing taxpayer dollars with today’s $74.6 million negotiated sale that includes $26.7 million of senior-lien student revenue bonds and $47.9 million of tax maintenance notes.

Moody’s Investors Service last week downgraded to Baa3 from Baa2 its underlying rating on Central College’s $23.5 million of outstanding variable-rate bonds from a 2008 issue.

ILLINOISMundelein VillageJul 12, 2010 . . . . . . $9,135,000

CALIFORNIANew Haven Unified School DistrictJun 10, 2010 . . . . . . $8,500,000

Table as of: 07/09/2010 14:01 PM Invisible Supply Issuer and purpose Amount* Approval

INDIANAFrankfort (City)Jul 8, 2010 . . . . . . $10,095,000

ARIZONAFowler Elementary School District No. 45Jul 8, 2010 . . . . . . $6,050,000

Municipal bond mutual funds last week rebounded from a brief spell of cash leakage with the biggest influx of new money in four months.

A $1.5 billion general obligation bond sale from the Los Angeles Community College District shares the primary market spotlight this week with $900 million of BABs from Illinois, expected to price Wednesday after a two-week delay.

CALIFORNIATahoe Forest Hospital DistrictJul 8, 2010 . . . . . . $43,000,000

CALIFORNIACalifornia School Cash Reserve Program AuthorityJul 8, 2010 . . . . . . $23,760,000

The Bond Buyer’s weekly yield indexes declined during this holiday-shortened week, buoyed mostly by a Wednesday rally of three to five basis points.

Build America Bonds have begun to reshape long-term taxable bond indexes that until now included little state and local government debt.

Tax-exempt money market funds recovered $3.19 billion of cash for the week ending July 5 — more than double their outflows the previous week — ending with $354.08 billion in total assets, according to the Money Fund Report, a service of iMoneyNet.com.

ILLINOISGlenwoodJul 6, 2010 . . . . . . $10,965,000

ARKANSASCentral Arkansas WaterJul 7, 2010 . . . . . . $8,830,000

Closed-end municipal bond funds continue to enjoy shelter from the turbulence plaguing the rest of the sector.

ARKANSASSpring Hill School District No. 10 of Hempstead CountyJul 6, 2010 . . . . . . $2,345,000

Table as of: 07/06/2010 16:44 PM Invisible Supply Issuer and purpose Amount* Approval