Investments

CALIFORNIACorona-Norco Unified School DistrictFeb 12, 2009 . . . . . . $67,520,000

Sizable transportation, health care, utility, and state general obligation deals will highlight a plentiful new-issue calendar that calls for an estimated $4.56 billion in new volume this week, according to Thomson Reuters.

Cash continued flooding municipal bond mutual funds last week as a growing appetite for mild risk continued bolstering the muni market.

ARIZONACoconino County Community College DistrictFeb 12, 2009 . . . . . . $17,135,000

Nearly all The Bond Buyer's weekly yield indexes decreased this week, as municipals were either flat or slightly firmer in each of the week's sessions.

For those investors hoping to take advantage of the plump yields on Puerto Rico's debt, the municipal bond team at Janney Montgomery Scott has some advice: Be careful.

Tax-free money market funds continued to see outflows for the week ending Feb. 9, as total assets declined by $2.2 billion to settle at $486.73 billion, according to the Money Fund Report, a service of iMoneyNet.com.

ARKANSASPocahontas School District No. 19 of Randolph CountyFeb 12, 2009 . . . . . . $1,110,000

ALABAMALee CountyFeb 4, 2009 . . . . . . $25,745,000

WASHINGTON - Growing mark-to-market liabilities for interest rate swaps are posing credit risks that could result in downgrades for some not-for-profit hospitals, higher education institutions, and other nonprofit borrowers, Moody's Investors Service warned in a report issued yesterday.

BRADENTON, Fla. - Municipal bond issuance in the Southeast last year took the largest tumble of any region in the country. Volume fell in all four quarters of 2008 as the credit crunch worsened and - as one financial adviser put it - the rules kept changing.

DALLAS - The abrupt resignation of a University of Texas regent overseeing investments for the state's Permanent University Fund has become an issue in the political battle between Gov. Rick Perry and his presumed 2010 primary challenger, U.S. Sen. Kay Bailey Hutchison.

ILLINOISPlainfield Township Park DistrictFeb 11, 2009 . . . . . . $2,220,000

ALABAMAFlorala Utilities BoardFeb 9, 2009 . . . . . . $1,005,000

DALLAS - The Texas A&M University System on Thursday will offer the largest issue of higher education debt in the state so far this year with $350 million of revenue financing system bonds. But the system will wait to add another $250 million backed by the Permanent University Fund.

If the clouds hovering over the municipal bond industry have a silver lining, portfolio managers say it is investors finally giving them cash to work with when yields are compelling.

BRADENTON, Fla. - Facing a deficit that could run $1 billion or more, Tennessee Gov. Phil Bredesen Monday night told lawmakers he would delay submitting his budget until Congress passes an economic stimulus bill that's projected to bring the state more than $3 billion.

CHICAGO - A flood of refundings by Midwestern issuers looking to shed auction-rate securities and variable-rate bonds backed by downgraded insurers in the second quarter of 2008 couldn't compensate for a steep fourth-quarter drop-off in borrowing amid the economic and market turmoil of last fall.

CONNECTICUTSouth Windsor (Town)Feb 10, 2009 . . . . . . $4,800,000

CALIFORNIABeaumont Financing AuthorityJan 29, 2009 . . . . . . $1,725,000