Investments

CALIFORNIAABAG Finance Authority For Nonprofit CorporationsJan 15, 2009 . . . . . . $6,200,000

Fat yields, low inflation, and a turbulent stock market led to the largest cash influx into municipal bond mutual funds in more than half a year.

Issuers in Texas and the Northeast - led by Connecticut - will take center stage in the primary market this week when they deliver a handful of sizable deals as part of an estimated $3.71 billion in total competitive and negotiated volume, according to Thomson Reuters.

The Jan. 7 article by Michelle Kaske alleges that "questions continue" over the billing and financial practices at the University of Medicine and Dentistry of New Jersey. She refers to an October article in which the Newark Star-Ledger reported that UMDNJ "continued to overbill even during a two-year period when there was a federal monitor observing the school."

ILLINOISGlencoe VillageJan 15, 2009 . . . . . . $7,400,000

ARIZONASalt River Project Agricultural Improvement and Power DistrictJan 15, 2009 . . . . . . $744,180,000

A municipal bond fund yesterday elected simultaneously to fire and not to fire UBS Global Asset Management Inc. as its adviser.

The Bond Buyer's weekly yield indexes fell sharply this week - the one-year note index hit a record low - as yields dropped in every session.

Tax-exempt money market funds saw inflows of $3.19 billion for the week ending Jan. 12, settling at $503.24 billion in total assets, according to the Money Fund Report. The total was slightly higher than the previous week, which saw inflows of $8.23 billion and settled at $500.05 billion.

CONNECTICUTGreenwich (Town)Jan 15, 2009 . . . . . . $72,000,000

ARKANSASUniversity of Arkansas Board of TrusteesJan 14, 2009 . . . . . . $12,030,000

DELAWAREDelawareJan 14, 2009 . . . . . . $121,000,000

CALIFORNIASan Diego Public Facilities Financing AuthorityJan 13, 2009 . . . . . . $157,190,000

DALLAS - Utah lawmakers are considering cutting education funding in an effort to trim state spending by 7.5% in the current fiscal year and twice that much in the next budget.

ARIZONAChandler (City)Jan 13, 2009 . . . . . . $32,445,000

COLORADOAdams CountyJan 12, 2009 . . . . . . $105,000,000

Putnam Investments last week delayed the mergers of four municipal bond funds, saying turbulent markets have rendered the plan imprudent for now.

DALLAS - Seeing what may be a brief window of opportunity, issuers and their finance teams were scrambling yesterday to bring some long-stalled deals to the muni market this week.

CHICAGO - Confident the market has begun to recover from last year's turmoil, two major Ohio issuers plan to enter the market today with a pair of long-delayed bond issues.

DALLAS - Texas lawmakers gavel in the 2009 session today with a weakening economy, a backlog of transportation funding needs, and 10% less revenue available than in the previous biennium.