Investments

DALLAS - With its economy tumbling, Arizona will shelve a $1 billion construction program for three state universities due to falling lottery revenues that were to provide debt service on bonds for the projects.

GEORGIAHenry CountySep 16, 2008 . . . . . . $19,950,000

ARKANSASClinton School District No. 1 of Van Buren CountyOct 7, 2008 . . . . . . $7,015,000

The Dormitory Authority of the State of New York received nine responses last week to a request for information about using taxable and tax-exempt bond financing for settlements with the state's special disability fund, also known as the Second Injury Fund.

Amid the ongoing turmoil that plagued the financial and credit markets in the first half of 2008, the nation's commercial and savings banks experienced slight negative growth in their municipal bond portfolios. The holdings declined by 1.0% to $142.7 billion on a cost basis and by 2.7% to $141.1 billion on fair-value basis through June 30, according to data from Sheshunoff Information Services Inc.

IOWADubuque (City)Oct 6, 2008 . . . . . . $1,195,000

COLORADODenver (City and County)Oct 1, 2008 . . . . . . $260,000,000

DALLAS - The negotiated sale of $180.1 million of lease revenue bonds by the Louisiana Local Government Environmental Facilities and Community Development Authority for the benefit of the state's community college and technical school system will be delayed due to market turmoil.

KANSASWyandotte County/Kansas City Unified GovernmentOct 2, 2008 . . . . . . $265,000

INDIANAHebron Municipal Building CorporationOct 2, 2008 . . . . . . $1,000,000

The deep freeze that the primary market has endured the last two weeks may begin to thaw a bit this week, aided by the much-anticipated news on Friday that the House approved the $700 billion financial rescue plan. But some market participants said it was too early to expect new-issue business to bounce back quickly given that the nation's economic crisis is far from over.

Weekly reporting municipal bond mutual funds had a net outflow of $848 million during the period ending Sept. 24, AMG Data Services reported.

ARKANSASJasper School District No. 1 of Newton CountyOct 2, 2008 . . . . . . $1,200,000

CALIFORNIACalifornia Infrastructure and Economic Development BankOct 2, 2008 . . . . . . $3,200,000

WASHINGTON - The Brazos Higher Education Service Corp., one of the largest nonprofit student loan lenders in the country, may be the first to ask its institutional investors to voluntarily tender, at less than par, roughly $6 billion of outstanding taxable student-loan related auction-rate securities so that it can restructure them as term floating-rate notes.

The Bond Buyer's weekly yield indexes rose this week, amid continued market turmoil and uncertainty over a federal bailout package.

Tax-exempt money market funds continue to show signs of gradual improvement this week. The pace of outflows have slowed and the attractive high rates compared to taxable money market funds are enticing yield-starved investors looking for buying opportunities as Congress continues to grapple with the nation's current economic slump.

CHICAGO - ThedaCare Inc. and Marquette University - two Wisconsin-based tax-exempt borrowers that sought first-time ratings - joined the list of issuers with deals on hold this week due to the rise in long-term interest rates, although Marquette did move forward with its floating-rate tranches due to its cash needs.

LOUISIANAJefferson Parish School District No. 1Oct 1, 2008 . . . . . . $15,000,000

ALABAMAFlorenceSep 16, 2008 . . . . . . $6,170,000