Investments

IOWAGrinnell (City)Jun 1, 2009 . . . . . . $500,000

CALIFORNIALakeside Union School DistrictMay 27, 2009 . . . . . . $7,487,246

ARIZONATempe (City)May 28, 2009 . . . . . . $56,055,000

Money continues to flow into municipal bond mutual funds at a record-setting rate as investors become more comfortable exiting ironclad, short-term safe havens.

Investors flush with June 1 coupon and maturity payments looking to reinvest these proceeds at the height of spring reinvestment season this week will be met with a wide selection of new issues.

ALASKAMatanuska-Susitna BoroughMay 27, 2009 . . . . . . $19,030,000

ARKANSASElkins School District No. 10 of Washington CountyMay 28, 2009 . . . . . . $3,915,000

The most important bonds in California right now are the ones that haven’t been issued yet — and may never be.

Nearly all The Bond Buyer’s weekly yield indexes rose this week, reflecting sustained weakness in the municipal market, despite the one-year note index declining to an all-time low.

After a short-lived period of inflows, tax-free money market funds declined by $124.8 million for the week ending May 25, and settled at $469.02 billion in total assets — after two prior weeks of positive cash-flow activity, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

DALLAS — Standard & Poor’s raised its rating on the Texas Southmost College District’s general obligation debt to AA with a stable outlook from A-plus, as the issuer prepares to come to market next month.

CALIFORNIASanta Clara Unified School DistrictMay 27, 2009 . . . . . . $12,000,000

ALABAMABarbour CountyApr 28, 2009 . . . . . . $3,875,000

The Northside Independent School District of San Antonio disclosed yesterday that the IRS has closed a random audit of $170 million of variable-rate bonds they sold in 2003 with no change to the tax-exempt status.

The "newness" premium on Build America Bonds has thinned.

The Dormitory Authority of the State of New York yesterday approved up to $1.27 billion of refundings of state-backed debt and took actions to deal with the downgrade of a liquidity provider used by some of its conduit borrowers.

DALLAS - The Lower Rio Grande Valley would get its first medical school under legislation awaiting Texas Gov. Rick Perry's signature.

ALABAMAAthens (City)May 7, 2009 . . . . . . $18,455,000

CALIFORNIABerkeley Unified School DistrictMay 26, 2009 . . . . . . $17,774,222

Illinois State University last week lost the positive outlook from Moody’s Investors Service on its A2 rating due primarily to the state’s budget struggles.