Investments

ARIZONATolleson Union High School District No. 214Jan 12, 2010 . . . . . . $6,500,000

Among the many metamorphoses the advent of taxable Build America Bonds was anticipated to induce in the tax-exempt municipal bond market, one of the most important was the flattening of the yield curve.

The expiration two years ago of the law allowing the 116 industrial development agencies in New York to sell bonds on behalf of nonprofits is changing the landscape for borrowers and issuers.

Fitch Ratings has downgraded Wartburg College’s Series 2005A private facility revenue bonds to BB from BBB-minus with a negative outlook due to a weakened financial profile. The bonds were sold in 2005 through the Iowa Higher Education Loan Authority.

FLORIDAFlorida Housing Finance CorporationDec 10, 2009 . . . . . . $200,000,000

COLORADOColoradoJan 11, 2010 . . . . . . $260,000,000

Table as of: 01/11/2010 16:33 PM Invisible Supply Issuer and purpose Amount* Approval

Long-term municipal bonds have demonstrated unusual resilience against the market’s walloping of Treasury bonds in the last six weeks.

CHICAGO — Ohio State University today will begin taking retail orders on a refunding issue that will range in size from $154 million to $274 million in order to eliminate some of the school’s variable-rate debt and achieve savings on its existing fixed-rate bonds.

The Arizona Board of Regents sent a letter last week to Gov. Jan Brewer warning that university classes may be cut and employees laid off if the state continues to delay scheduled monthly payments.

Table as of: 01/08/2010 14:54 PM Invisible Supply Issuer and purpose Amount* Approval

CALIFORNIAWoodland Joint Unified School DistrictJan 8, 2010 . . . . . . $16,540,000

CALIFORNIAIrvine Unified School District Community Facilities District No. 06-1Jan 7, 2010 . . . . . . $13,075,000

CHICAGO — Triple-A rated University of Michigan will enter the market today with $163 million of general revenue Build America Bonds.

After breaking every record for garnering new money from investors in 2009, municipal bond mutual funds kicked off 2010 by taking in still more.

Municipal issuers this week will unveil several large deals — anchored by a $900 million Pennsylvania general obligation offering — on the heels of last week’s equally hefty post-holiday slate.

BlackRock Friday threw a new type of product into the mix in the rapidly growing and evolving municipal bond exchange-traded fund industry.

IOWANorwalk Community School DistrictJan 7, 2010 . . . . . . $16,095,000

IDAHOIdaho Housing and Finance AssociationJan 7, 2010 . . . . . . $84,290,000

Most of The Bond Buyer’s weekly yield indexes increased this week as municipals came out of the holiday doldrums with losses outweighing gains, but with buyers returning to the market.