Investments

With all the hullabaloo over California’s budget crisis, one might get the impression things in the other 49 states are going swimmingly.

A week after posting the fourth heaviest outflows of the year, tax-exempt money market funds declined by $4.48 billion and finished the week of July 20 with total net assets of $450.32 billion, according to the Money Fund Report, a service of iMoneyNet.com.

ALABAMAUniversity of Alabama Board of TrusteesJul 22, 2009 . . . . . . $8,115,000

ALABAMABirmingham (City)Jul 22, 2009 . . . . . . $19,960,000

WASHINGTON - Rep. Bob Etheridge, D-N.C., today will urge Treasury Secretary Timothy Geithner to quickly issue guidance on qualified school construction bonds, specifically how to strip and sell the bonds' tax credit in the secondary market.

FLORIDAFlorida Department of TransportationJul 21, 2009 . . . . . . $200,000,000

ALABAMALanett (City)Jul 6, 2009 . . . . . . $5,005,000

Moody’s Investors Service this week revised its outlook to negative from stable on DePauw University’s A2 credit due to operating deficits. It has about $100 million of rated debt sold through the Indiana Finance Authority and the Indiana Educational Facilities Authority.

ARIZONACasa Grande (City)Jul 20, 2009 . . . . . . $19,000,000

CALIFORNIALivermore Redevelopment AgencyJul 10, 2009 . . . . . . $16,640,000

NEW JERSEYLeonia BoroughJul 17, 2009 . . . . . . $4,000,000

ARIZONAAmphitheater Unified School District No. 10Jul 17, 2009 . . . . . . $29,000,000

Municipalities plan a moderate slate of new deals this week during the seasonally slow summer period.

Municipal bond mutual funds continue to bore into uncharted territory at an unprecedented speed.

SAN FRANCISCO - Moody's Investors Service on Friday placed on review for downgrade the credit enhancement policies of California's two state pension systems, as well as California State University bonds, while affirming the University of California's credit rating.

COLORADOColoradoJul 16, 2009 . . . . . . $255,000,000

ALABAMACalera Waterworks BoardJul 1, 2009 . . . . . . $3,790,000

WASHINGTON — Legislation introduced by a key House lawmaker to require all federally guaranteed student loans to be issued directly by the federal government includes provisions that may impact the market for existing debt backed by student loans, market participants said yesterday.

Three former City College of San Francisco administrators, including a former chancellor, pleaded not guilty to charges that they steered more than $150,000 in college funds into bond campaigns, the San Francisco Chronicle reported.

The Bond Buyer’s weekly yield indexes declined this week, as strength during the early stages of the week held off weakness permeating the market during the last few sessions.