Investments

The Bond Buyer’s weekly yield indexes mostly fell this week as the Federal Reserve’s plan to support credit markets by buying Treasuries sparked a rally in state and local government debt.

ALASKAAlaska Municipal Bond BankMar 19, 2009 . . . . . . $30,295,000

CONNECTICUTBethel (Town)Mar 19, 2009 . . . . . . $38,635,000

North Carolina Gov. Beverly Perdue announced a biennial budget plan on Tuesday that would not authorize any new debt issuance in fiscal 2010 as the state seeks to close a $3.4 billion budget shortfall.

ALABAMAMarengo CountyFeb 26, 2009 . . . . . . $6,055,000

ARKANSASJessieville School District No. 1 of Garland CountyMar 18, 2009 . . . . . . $8,380,000

WASHINGTON - South Carolina Gov. Mark Sanford extended his stimulus spat with President Obama yesterday, asking him to allow the state to use $577 million of federal stimulus aid to pay down about $579 million on general obligation bonds for education.

The municipal bond market continued to grow during the fourth quarter in the face of a global credit crisis as retail investors flocked to high-quality state and local government debt.

Wisconsin Gov. Jim Doyle announced Monday the inclusion in his new capital budget of $240 million of debt for University of Wisconsin projects in Milwaukee.

ILLINOISWallace Community Consolidated School District No. 195Mar 10, 2009 . . . . . . $4,585,000

CALIFORNIASan Francisco Finance Corporation (City & County)Mar 17, 2009 . . . . . . $34,265,000

The University of Texas Medical Branch at Galveston would be restored to its pre-Hurricane Ike capacity of 550 patient beds under a $713 million recovery plan approved last week by UT regents.

COLORADOMesa CountyMar 2, 2009 . . . . . . $8,000,000

ILLINOISKendall CountyMar 16, 2009 . . . . . . $10,000,000

Wisconsin is expected to thunder into the market a week early with up to $1.5 billion of state-appropriated securities that will refund outstanding 2002 tobacco bonds and deliver a substantial amount of paper to the Midwest market.

Congress hopes an expansion of the taxable municipal bond market will introduce new types of investors to state and local bonds.

Cash influxes into municipal bond mutual funds slowed again last week as the market continued to pummel state and local government bonds.

ARIZONAGilbert (Town)Mar 12, 2009 . . . . . . $80,585,000

LOUISIANAYoungsville (City)Mar 12, 2009 . . . . . . $5,000,000

When institutional investors and price-evaluation services disagree, bet on the institutional investors.