Investments

IOWADes Moines Area Community CollegeJun 8, 2009 . . . . . . $4,550,000

ARIZONAFowler Elementary School District No. 45Jun 5, 2009 . . . . . . $4,500,000

DALLAS - The University of Texas System is preparing the state's largest debt issue so far this year: $625 million of revenue bonds, including $330 million of Build America Bonds.

Administrators at the Maricopa County Community College District have asked the district board to increase the property tax rate to bring in an additional 2% in revenue, or about $7.5 million a year. The current tax generates $360 million a year.

Arizona State University in August will open its new College of Nursing and Health Innovation in downtown Phoenix that has been built with proceeds from bonds issued by the city.

INDIANABargersville Community Fire Protection DistrictJun 3, 2009 . . . . . . $2,750,000

CALIFORNIALos Angeles County Metropolitan Transportation AuthorityJun 4, 2009 . . . . . . $245,825,000

Investors continued shoveling rare quantities of cash into municipal bond mutual funds last week.

A pair of deals, one several billion dollars and one nearly a billion, will share the spotlight in the primary market this week as an estimated $11.4 billion in total new-issue volume is expected, according to The Bond Buyer and Ipreo LLC. The mammoth offerings will almost double last week's volume, which was revised to $6.6 billion, according to Thomson Reuters.

ARKANSASGreenwood School District No. 25 of Sebastian CountyJun 4, 2009 . . . . . . $23,570,000

ARIZONAFlorence Unified School District No. 1Jun 4, 2009 . . . . . . $6,000,000

Cash flowed out of tax-free money market funds for the second week in a row, declining by a whopping $3.36 billion and settling at $465.66 billion in total assets for the week ending June 1, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

Nearly all The Bond Buyer’s weekly yield indexes rose this week as tax-exempts weakened in almost all the week’s sessions.

In a universe of more than 260 closed-end municipal bond funds, Thomas J. Herzfeld likes one. The rest he is selling.

ARIZONAArizona Transportation BoardJun 2, 2009 . . . . . . $440,000,000

ARKANSASPulaski County Special School District of Pulaski CountyJun 3, 2009 . . . . . . $81,365,000

IOWACherokee (City)May 14, 2009 . . . . . . $945,000

Moody’s Investors Service last week downgraded Ohio Northern University’s $80 million of debt to A3 from A2 and warned of further action by assigning a negative outlook as the school struggles with investment losses and enrollment.

COLORADOBoulder (City)Jun 2, 2009 . . . . . . $6,305,000

CALIFORNIASouth Pasadena Public Financing AuthorityMay 14, 2009 . . . . . . $43,405,000