Public finance

The Illinois State Toll Authority board has approved a $1.5 billion budget for the coming year along with $1 billion in toll-backed bonds in the agency's first borrowing to support its 15-year $12 billion capital program.

Table as of: 12/24/2012 09:59 AM Invisible Supply Issuer and purpose Amount

Wells Fargo Securities expects not-for-profit hospitals to experience challenging conditions in 2013.

The transportation sector will spend next year looking for opportunities to achieve limited legislative goals, while hoping to stay out of the way of lawmakers who may have to slash funds in ongoing efforts to deal with the debt crisis.

Highmark, Inc. and state lawmakers are pushing the Pennsylvania Insurance Department to step up its review of the West Penn Allegheny Health System affiliation, but the agency wants more details.

INDIANA

ALABAMA

Chicago Mayor Rahm Emanuel's announcement that the city will explore leasing Midway International Airport to private operators came with a full court press to portray any eventual deal as a good one for taxpayers.

Some state attorneys general are hailing settlements with major tobacco companies resolving a dispute over payments, but Herbert J. Sims analyst Dick Larkin believes tobacco companies may be the big winners.

The tradition of extremely low issuance for the week between Christmas and New Year's continues this December as the municipal bond market should see paltry activity next week.

The Illinois Finance Authority board signed off on a $90 million financing package for Clare Oaks continuing care retirement community in suburban Chicago as part of a Chapter 11 reorganization plan submitted by bondholders.

This week, municipal bond funds saw their largest outflows since January 2011 and the fifth largest on record.

Virginia Gov. Bob McDonnell announced final agreement has been reached on a $1.4 billion public-private partnership to finance, design, and build a new 55-mile section of U.S. Route 460 in the southeastern part of the commonwealth.

Municipal bond issuance is expected to increase to $458.0 billion in 2013, a 9% jump from the $420.3 billion of munis issued in 2012 through mid-December, according to the Securities Industry and Financial Markets Association's annual survey of dealer firms.

Chicago is exploring a second try at privatizing its Midway International Airport, Mayor Rahm Emanuel's administration announced Friday.

COLORADO

INDIANA

The tax-exempt market struggled throughout most of the week with yields jumping as dealers cleaned out inventory ahead of year-end and buyers were fed up with record-low yields.

Federal and transit agency officials made their case for federal aid to rebuild in the aftermath of Superstorm Sandy, telling a Senate panel they will need it to help pay debt service on new muni debt.

COLORADO