Public finance

Detroit has asked the federal judge in charge of its Chapter 9 to consider forcing bond insurer Syncora Guarantee to issue an apology for suggesting that federal mediators have tainted the bankruptcy process.

Everything from mileage-based fee systems to higher state fuel taxes are on the table as states seek new ways to increase transportation funding.

Detroit Public Schools will move forward with a plan to issue $111 million of state aid notes as well as an updated deficit elimination plan that calls for 10% pay cuts and the closure of up to 24 schools.

FLORIDA

CALIFORNIA

Bond insurer Syncora Guarantee challenged Detroit's settlement with its unlimited-tax general obligation bondholders in court Tuesday, arguing that it means Detroiters will continue to pay taxes on a levy that they did not approve on the original ballot.

Moody's Investors Service on Tuesday withdrew its general obligation bond rating on Tehachapi Valley Healthcare District, Calif. citing a lack of financial information for fiscal 2013, affecting $63 million in debt.

California's new law to require issuers to disclose bank loans will likely result in lower borrowing costs, according to a report from Municipal Market Advisors.

As Detroit gears up for a key trial on its bankruptcy exit plan next week, a long-simmering dispute over $1.4 billion of certificates of participation is just starting to heat up.

ILLINOIS

ARKANSAS

Airport credits are stabilizing after major shifts in the airline industry, Moody's Investors Service said, but smaller hub airports face challenges.

Mileage-based fees may one day replace the gasoline tax as the prime source for federal transportation funding, but it won't be quick and it won't be easy.

ALABAMA

Volume will slip from last week, remaining lighter than usual, as an estimated $4.2 billion makes its way to market.

The Puerto Rico Electric Power Authority put off a day of reckoning in an agreement with creditors announced Thursday, but still may be headed for what would be the largest municipal bond default in U.S. history.

The Detroit City Council has approved a series of four bond issues that include nearly $1 billion of new limited-tax GO bonds to help finance unsecured creditor settlements as part of its bankruptcy plan.

Though New Jersey and California are on starkly different credit paths, municipal analysts said their recent trading patterns suggest equally-strong demand.

The Puerto Rico Electric Power Authority announced agreements with insurers and bondholders controlling more than 60% of PREPA's outstanding bonds to amend existing bond documents to provide PREPA with liquidity and for PREPA to appoint a chief restructuring officer.

ALABAMA