Public finance

Encinitas City Council members are leaning toward borrowing close to $30 million so the city can overhaul much of Leucadia's portion of Coast Highway 101 all at once, instead of doing the project into three phases as previously proposed.

The municipal bond market is set to see a chunky new issue calendar this week: $7.85 billion.

As they prepare to battle for votes in the runoff for Montgomery County Precinct 4 Commissioner, incumbent Jim Clark and James Metts have differing ideas on the immediate needs of the community.

The competitive issuance will include roughly $35 million of taxable bonds.

The Tobacco Settlement Corp. is coming to market with over $3 billion of municipal bonds in a refunding deal that takes out all of the securities issued back in 2007.

Natural Resources Committee Chairman Rob Bishop complained that "intentional misinterpretations" of the "PROMESA" law may mean U.S. promises to Puerto Rico will take "decades" to fulfill.

The influx of volume may give the boost that's needed to jump-start the primary market.

Rosselló said PROMESA allows the Oversight Board to make public policy recommendations, but not to order labor law reforms and pension cuts.

Former broker Deborah Kelley could end up paying close to half a million dollars in fines, penalties, and restitution for her role in defrauding the New York State Common Retirement Fund.

The New Jersey legislature again passed legislation to hand police officers and firefighters control of their pension fund.

Municipal bond volume picked up from February, prompting speculation that this year's drought in deals may soon ease.

The district must come up with a new plan to save its pension fund from insolvency.

Proponents call the move the right medicine for ailing Connecticut, while opponents say the measures are overly restrictive.

Restructuring expert Michael Imber says momentum is building for such a strategy, which he says could improve the state's funding ratio.

The municipal bond market will see almost $7.9 billion of new deals head their way next week, as New Jersey tobacco's dominate the calendar.

After a quarter marked by increased interest in taxable issuance, strengthened state support for local credits, and rising demand from investors seeking shelter from volatility, the municipal market is adapting to its new tax law realities.

Oversight Board is continuing its struggle with the Puerto Rico government over fiscal plans.

In the week ended March 28, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index fell to 4.00% from 4.01% the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The municipal market was winding up the week on a tentative note as Connecticut offered its general obligations to institutional investors.

Chicago expects to begin tapping $4 billion of bond authority for O'Hare by early 2019.