Investments

MICHIGANLes Cheneaux Community SchoolsJun 30, 2008 . . . . . . $610,000

ARIZONAPima County Industrial Development AuthorityJun 20, 2008 . . . . . . $130,000,000

SAN FRANCISCO - Long-term municipal bond issuance dropped 4.1% in the first half of 2008, as issuers with auction-rate securities rushed to refinance and most others tried to avoid a turbulent market.

ARIZONAArizona Health Facilities AuthorityJun 13, 2008 . . . . . . $98,750,000

Weekly reporting municipal bond mutual funds had a net inflow of $461 million during the period ending June 25, AMG Data Services reported.

As the municipal market closes the book on the first half of 2008 and prepares for the start of the summer reinvestment season tomorrow, activity in the primary market will slow as underwriters, investors, and issuers cut the week short ahead of Friday's July 4th holiday.

CALIFORNIANatomas Unified School DistrictJun 26, 2008 . . . . . . $21,535,000

ALABAMABaptist Health Health Care Authority, An Affiliate of UAB Health SystemJun 25, 2008 . . . . . . $31,045,000

Most of The Bond Buyer's weekly yield indexes rose last week, as municipal bonds cheapened significantly compared to Treasuries.

Outflows to the tune of $3.81 billion caused tax-exempt money market funds to end the week of June 23 with $513.65 billion, according to the Money Fund Report, a service of iMoneyNet.com of Westborough, Mass.

CALIFORNIAMilpitas Unified School DistrictJun 25, 2008 . . . . . . $4,000,000

ALABAMAAlabama Municipal Funding CorporationJun 11, 2008 . . . . . . $29,895,000

The Dormitory Authority of the State of New York got a new executive director yesterday with the appointment by the board of Paul T. Williams Jr., a senior counsel at Nixon Peabody LLP.

ALASKAJuneau (City and Borough)Jun 23, 2008 . . . . . . $36,745,000

ARKANSASSouthern Arkansas University Board of TrusteesJun 19, 2008 . . . . . . $6,365,000

The ongoing credit crunch is starting to hit mutual funds, according to a recent review by Standard & Poor's that revised credit quality ratings on eight tax-exempt mutual funds.

Broker-dealers ended the first quarter of 2008 with 31.7% more in municipal debt on their books than they had at the end of 2007, according to Federal Reserve flow of funds data that is likely due to the freeze in the auction-rate securities market.

CHICAGO - Akron, Ohio, could raise up to $250 million to fund a university scholarship program for the city's public school students by leasing its sewer system under a first-of-its-kind proposal floated by Mayor Donald Plusquellic.

ILLINOISVilla Park VillageJun 23, 2008 . . . . . . $3,700,000

CALIFORNIAFirst Assembly of God of FremontJun 19, 2008 . . . . . . $1,935,000