Public finance

How to fund repairs for crumbling infrastructure vexes the biggest of transit agencies and the smallest of states.

ALASKA

CONNECTICUT

Municipal bond funds reported inflows for the fourth week in a row, according to Lipper data released on Thursday. Weekly reporting funds experienced $349.038 million of inflows in the week ended Oct. 28, after inflows of $240.718 million in the previous week.

While Illinois’ falling ratings doesn’t post much default risk, investors should tread cautiously with the credit due to headline risks that could cut the value of their holdings, that’s the assessment offered from one buyside participant.

In the week ended Oct. 29, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index remained flat at 4.34% from the previous week. The BB40 Index is based on the price of 40 long-term bonds.

The $500 million of federal TIGER grants to transportation projects in 34 states brings the total to $4.6 billion since 2009.

Nevada's Clark County School District, the nation's fifth largest, is in the midst of a restructuring that could have repercussions for its outstanding and future bonds.

The National Governors Association is calling on newly elected House Speaker Paul Ryan to move transportation and online sales tax legislation.

In a second podcast installment with Howard Cure, the Evercore Wealth Management director of muni bond research pinpoints New York regional transit funding challenges with Bond Buyer senior Northeast reporter Paul Burton.

ALABAMA

ARKANSAS

The Senate on Wednesday adopted a short-term extension of federal transportation funding that was approved the previous day by the House.

With more colleges facing fiscal challenges issuing debt for new projects, many higher education institutions are exploring alternative forms of financing, according to Tom Morsch, co-head of Public Financial Management Inc.’s public-private partnership practice.

The $3.6 trillion municipal bond market may benefit from the infrastructure moves if states, agencies, and localities choose to borrow against the new revenue to provide immediate infusions of construction cash.

MISSOURI

CALIFORNIA

Despite last week’s downgrades, Illinois’ general obligation paper fares better than New Jersey for relative credit risk, Municipal Market Analytics said in a commentary comparing the two lowest-rated states.

The House on Tuesday passed a three-week extension of federal transportation funding that would keep reimbursements to states for highway and transit projects flowing through Nov. 20.

NEBRASKA