Public finance

Highway construction project awards slacken in 2014 as states gird for possible delays, cuts in federal transportation spending.

Detroit emergency manager Kevyn Orr Tuesday issued an order that gives the city's mayor control of the Detroit Water and Sewerage Department.

MASSACHUSETTS

DISTRICT OF COLUMBIA

Trains are now carrying passengers on the first segment of Washington rail system extension funded with $3 billion of federal loans and toll revenue bonds.

A settlement with Detroit's limited-tax general obligation bondholders that calls for a 34% recovery also gives the creditors a say in the city's effort to repudiate $1.4 billion of pension certificates, one of the most controversial aspects of the bankruptcy case.

NEW MEXICO

ALABAMA

New-issue volume is expected to decline by around $2 billion this week, as a handful of deals from California, the District of Columbia and Illinois will vie for investors’ attention.

The Agriculture Department and CoBank have formed a $10 billion fund to spur private investment in rural public infrastructure.

The outcome of Detroit's high-profile bankruptcy case could influence how other distressed Michigan governments prioritize their own retirement obligations against other types of debt, Moody's Investors Service said.

ALABAMA

ALABAMA

Municipal funds reported their highest inflows in 11 weeks.

Texas will provide nearly $6 million in subsidies for Charles Schwab Corp. to add a new center in El Paso and expand its Austin operation, Gov. Rick Perry said.

The Bond Buyer’s muni bond indexes strengthened in the week ending July 24.

Allowing states to toll existing highways as an infrastructure funding option divides transportation industry advocates.

Hospital bankruptcies are on pace to set a record in 2014 and investors should get more involved with restructuring efforts, a firm specializing the field says.

Samson Capital Advisors LLC, a New York-based global fixed-income investment management boutique, has tripled its assets under management in the past decade, as demand surged for wealth management advice.

Detroit's bankruptcy may prove relevant for current restructuring candidates like Puerto Rico, the City of Chicago, and several municipalities in California.