Investments

ARKANSASNettleton Special School District of Craighead CountyApr 14, 2009 . . . . . . $17,670,000

Thornburg Investment Management this month launched a high-yield municipal bond fund seeking to take advantage of distressed prices on what the company claims are fairly stable credits.

CHICAGO - Barring any significant shift in the yield curve or in investor interest, the University of Minnesota will enter the market as soon as today with $35 million of taxable, general obligation Build America Bonds that officials believe will mark the first public offering of securities under the new federal program.

ALABAMADaleville (City)Apr 3, 2009 . . . . . . $5,345,000

ILLINOISMaine Township High School District No. 207Apr 13, 2009 . . . . . . $4,210,000

The Massachusetts Health and Educational Facilities Authority Thursday will create a merger committee to move forward with Gov. Deval Patrick's plans to combine the authority with the Massachusetts Development Finance Agency, although market participants worry the initiative may increase borrowing fees.

CALIFORNIACalifornia State Public Works BoardApr 8, 2009 . . . . . . $435,145,000

IOWAAplington-Parkersburg Community School DistrictApr 9, 2009 . . . . . . $5,885,000

The new-issue calendar will be somewhat lackluster this week with an estimated $3.75 billion of competitive and negotiated volume expected to arrive, compared with last week when issuers priced a revised $2.79 billion ahead of the Passover and Easter holidays, according to Thomson Reuters.

Municipal bond mutual funds kept attracting cash last week as investors continued to embrace state and local government debt.

After nearly a month of consistent outflows, tax-exempt money market funds managed to gain $1.79 billion and settle at $484.36 billion in total assets for the week ending April 6, according to the Money Fund Report, a service of iMoneyNet.com.

Participants in the municipal bond market say they are seeing more investors buy bonds from other states despite the tax exposure as fatter yields outweigh in-state tax considerations.

ARIZONAArizona Board of RegentsApr 7, 2009 . . . . . . $36,250,000

ARKANSASHarrison School District No. 1 of Boone CountyApr 8, 2009 . . . . . . $14,325,000

BRADENTON, Fla. - The negative watch placed on the Alabama Public School and College Authority by Standard & Poor's on March 27 is unwarranted, state finance director Jim Main said this week.

CALIFORNIASanta Clara County Financing AuthorityMar 30, 2009 . . . . . . $50,000,000

ALASKAAnchorageApr 7, 2009 . . . . . . $126,000,000

The Vermont Student Assistance Corp. has been notified by the Internal Revenue Service that $165 million of education loan revenue bonds it issued in 1998 may be taxable because of issues related to its tracking of loans and treatment of fees.

SAN FRANCISCO - Moody's Investors Service assigned a negative outlook to the entire tax-backed local government sector yesterday. It is the first time the agency has ever had a negative outlook on the sector.

IOWAIowa City (City)Apr 6, 2009 . . . . . . $8,660,000