Public finance

Unrated Irvine, Calif., dirt bonds were oversubscribed by five to eight times when they priced in early August amid overall yield compression.

The changing demographics of prospective students may present an opening for higher education institutions to attract more students and strengthen their revenue stream, according to analysts.

CALIFORNIA

ALASKA

Detroit said it stands behind the proposed $815 million 'grand bargain" as the best solution to aid pensioners and protect the city art museum's collection, rejecting an offer from Art Capital Group for a $4 billion loan with the art collection serving as collateral.

Detroit’s $1.8 billion water and sewer revenue bond sale this week drew about $7.6 billion of orders, officials said, allowing the city to lower interest rates and carve out some additional savings.

Baltimore city and county will provide $280 million for Maryland's $2.9 billion Red Line light rail project to help attract $900 million of federal funding.

An expected swell in the volume of current refundings in the fourth quarter will be a welcome arrival even if it doesn't cure the market's prolonged imbalance, analysts say.

CONNECTICUT

CALIFORNIA

The judge in charge of mediation in the Detroit bankruptcy case ordered a new round of talks between the city and holders and insurers of $1.4 billion of pension certificates of participation.

The Kroll Bond Ratings Agency assigned its AA rating to Los Angeles' general obligation bonds Tuesday, its first rating of the city.

States are losing more than $1 billion a year by giving breaks on jet fuel taxes to airlines, the Unite Here International Union said in a new report.

Standard & Poor's raised Detroit's water and sewer revenue bonds three levels up from junk bond territory ahead of the city's $1.8 billion sale of mostly refunding bonds, offering a more positive assessment than Fitch Ratings or Moody's Investors Service.

IOWA

ALABAMA

Detroit plans to sell $1.8 billion of water and sewer bonds Tuesday through the Michigan Finance Authority in a transaction that allows it to finance the purchase of $1.5 billion of tendered bonds and further its efforts to exit bankruptcy.

Detroit's voluntary tender program of its water and sewer revenue bonds may have provide an "optimal solution" for the market but it still represents a default, Municipal Market Advisors said Monday.

Oregon, which invented the gasoline tax in 1919, is on the road to be the first state to shift to a mileage-based user fee for highway funding.

ARKANSAS