Investments

ARIZONAPima CountyMay 21, 2009 . . . . . . $34,400,000

Cash continued pouring into municipal bond mutual funds at a record pace last week as investors once again ferried money out of safe havens and put it to work elsewhere.

When the Hudson Falls, N.Y., Central School District needed to borrow for capital spending last year it went on its own to the market. This year it's going through the Dormitory Authority of the State of New York and it's not alone.

Arizona State University officials said last week they may ask that funding for an expansion of its downtown Phoenix campus be included in the city’s next general obligation bond election.

There will be a small array of new issues in the primary market this week - including a pair of sizable New York deals and a pair of taxable Build America Bond sales.

OKLAHOMAWagoner County Independent School District No. 365 (Porter)May 22, 2009 . . . . . . $310,000

CONNECTICUTClinton (Town)May 21, 2009 . . . . . . $4,945,000

ARIZONAGoodyear (City)May 21, 2009 . . . . . . $5,580,000

Most of The Bond Buyer’s yield indexes declined this week, as municipals showed firmness in nearly all the week’s sessions.

Dr. Andrew Kalotay, a man not easily baffled, is baffled by the municipal bond industry.

ALABAMADecatur (City)May 20, 2009 . . . . . . $8,775,000

ALABAMABirmingham Water Works and Sewer BoardMay 20, 2009 . . . . . . $155,065,000

Moody’s Investors Service last week downgraded the University System of Georgia Board of Regents’ Series 2003 project revenue bonds to Aa3 from Aa2 with a stable outlook.

CHICAGO - The South Dakota Board of Regents will sell $90 million of revenue bonds - its largest deal ever - under the taxable Build America Bond program today to finance various projects at four of its universities.

Congress should consider banning colleges from using tax-exempt bonds to finance sports facilities if it fears high-profile collegiate sports programs are becoming too commercial, a new report from the Congressional Budget Office released this week recommends.

For a second week in a row, the assets of tax-exempt money market funds increased, gaining $479.9 million to $469.14 billion for the week ending May 18, according to the Money Fund Report, a service of iMoneyNet.com.

COLORADOLamar (City)May 19, 2009 . . . . . . $1,670,000

ARKANSASArkansas Development Finance AuthorityMay 18, 2009 . . . . . . $13,280,000

Armed with an East Coast operation after its acquisition of Wachovia Corp., Wells Fargo & Co.’s wealth management division says it plans to use an integrated distribution model nationally to increase assets under management and market share.

Ipreo and Morningstar Inc. are partnering to supply Morningstar's fund ownership data to users of Ipreo's Bigdough contact database, the companies said earlier this week.