Public finance

Detroit has not reallocated payments for its unlimited-tax general obligation bonds because those bonds are tied up in federal mediation talks, the city said Monday.

CALIFORNIA

GEORGIA

Detroit Monday disclosed the fees it must pay to Barclays Capital Inc. to secure a $350 million debtor-in-possession financing, after the bankruptcy judge overseeing the city's case ordered the disclosure.

American Airlines will ask a bankruptcy court to approve an agreement with federal regulators that settles the government's antitrust lawsuit against American's proposed merger with US Airways Group Inc.

Vice President Joe Biden used a visit to the Port of Houston to renew the Obama administration's proposal for a $50 billion infrastructure renewal program.

National League of Cities members on Saturday elected St. Paul, Minn. Mayor Chris Coleman as their president for 2014 at a business meeting on Saturday.

WISCONSIN

ALABAMA

The $1.8 billion Jefferson County, Ala. Sewer warrant deal raised eyebrows on Friday when it thundered into the market for the first day of its retail order period where yields on some of the subordinated debt were offered at close to 8%.

Legislation recently introduced in Congress would transfer nearly all authority over federal highway and transit programs to states and substantially reduce federal motor fuel taxes over a five-year period.

The tax-exempt market ended firmer for the week as investors put in more orders for bonds than were available on deals in the primary market. The secondary was firmer as the week progressed with dealers unloading balances from deals to customers at higher prices.

As Jefferson County, Ala., began to sell sewer warrants on Friday, analysts said they remained concerned about the rate increases needed to repay the debt.

Tolls from managed traffic lanes can be an effective way to fund expensive highway projects, but investors need to consider revenue volatility.

States are no longer waiting for the federal government when it comes to trying to drum up new revenue for transportation infrastructure, said Victor Mendez, administrator, Federal Highway Administration, Friday morning at the Bond Buyer's Transportation Finance/P3 conference here.

Bill de Blasio's budget proposal about a month into his tenure could provide a window to investors anxious to see how New York's new mayor will handle finances.

A Nov. 11 announcement that Major League Baseball’s Atlanta Braves will be building a new stadium in suburban Cobb County and will receive some form of local government funding has brought an age-old debate on whether public dollars for sports facilities makes economic sense for municipalities back to the forefront. The question of governments such as Cobb County utilizing public money for sports venues was raised on Nov. 6 during a panel called “Stadium Financing: Boon or Bane” at the Bloomberg State & Municipal Conference in New York. Gregory Carey, managing director at Goldman Sachs & Co. who heads the investment banking company’s sports finance and surface transportation finance group, argued that the pros of governments investing in stadiums and arenas for their sports teams outweighs the cons. One example cited by Carey was how the $400 million the state of Minnesota is putting in toward a new stadium for the Minnesota Vikings comprises roughly the payroll tax paid by the National Football League franchise that would be lost should the team have relocated out of the area.

The Puerto Rico Treasury is taking a variety of steps to crack down on tax evasion, including hiring 195 professionals to crack down on the practice.

CALIFORNIA

ARKANSAS