Public finance

The federal judge overseeing Detroit's bankruptcy approved a plan for the city to issue $60 million of bonds to finance repairs to its public lighting system.

ALABAMA

INDIANA

Underwriters should price an estimated $11.33 billion of long-term supply in what is likely the last significant calendar of 2013.

Virginia Gov.-elect Terry McAuliffe is reluctant to go ahead with a $1.4 billion toll road until the project receives final environmental approval from the Corps of Engineers.

ARKANSAS

The Indiana Finance Authority won The Bond Buyer's 12th annual Deal of the Year award for its Ohio River Bridges East End Crossing Project.

The Bond Buyer's weekly yield indexes rose the week ended Dec. 5.

U.S. Bankruptcy Judge Stephen Rhodes has released the written opinion supporting his determination that Detroit is eligible to enter Chapter 9 bankruptcy.

Tax exempt money market funds lured $725.2 million in the week ended Dec. 2, according to The Money Fund Report, a service of iMoneyNet.com.

Moody's Investors Service raised its outlook on the toll road industry to stable from negative as toll revenues continue a slow but steady recovery.

ARKANSAS

ALABAMA

Lebenthal & Co. said it will begin trading on MuniAxis, its new platform for odd-lot municipal bond transactions, as the market opens on Dec. 12.

Investors endorsed Illinois’ pension restructuring legislation with state paper trading at tighter spreads while rating agencies, though cautious, called the overhaul a positive step.

Auction house Christie's said a slice of Detroit's art collection could be worth between up to $846 million, far less than creditor speculations.

California water and sewer utilities have performed well in the past year, with the average agency rated AA, according to Fitch Ratings.

Massachusetts will hold its third annual investor conference, which Treasurer Steven Grossman touts as art of the commonwealth's enhanced investor disclosure program.

Coalition of labor and business executives support legislation to raise the federal gasoline tax by 15 cents per gallon to fund transportation infrastructure.

After 14 straight quarters of revenue growth, most U.S. states are heading into the new year with a stable outlook even as local governments will continue to feel the financial pressures they experienced over the course of the economic downturn, according to Fitch Ratings.