Public finance

INDIANAFishers (Town)May 14, 2009 . . . . . . $1,975,000

ARKANSASFayetteville (City)May 15, 2009 . . . . . . $8,210,000

As the spring reinvestment season gets underway, investors expecting June 1 coupon and maturity payments will have no shortage of supply this week.

Cash is flooding into municipal bond mutual funds at a record pace as investors become more comfortable taking risk and spiriting money out of safe havens.

The National Federation of Municipal Analysts presented awards to four individuals, including Tom Weyl from Eaton Vance Management and J. Ben Watkins 3d, Florida's bond division director, as well as a law firm, during its annual conference in Seattle earlier this month.

ALABAMATalladega County Board of EducationMay 14, 2009 . . . . . . $7,255,000

ARIZONAPhoenix Civic Improvement CorporationMay 13, 2009 . . . . . . $540,295,000

Tax-exempt money market funds took a step into positive territory for the week ending May 11 as they gained $742.9 million to settle at $468.67 billion, according to the Money Fund Report, a service of iMoneyNet.com.

With Build America Bonds at the forefront of the municipal market, Fitch Ratings is concentrating on the treatment of the federal subsidy and bond structure as two key credit considerations in its ongoing analysis of the taxable debt, according to a report being released today.

Nearly all The Bond Buyer’s yield indexes declined this week, as tax-exempts were unchanged to firmer in all the week’s sessions.

ARKANSASArkansasMay 13, 2009 . . . . . . $15,275,000

CALIFORNIACarlsbad Unified School DistrictMay 12, 2009 . . . . . . $79,998,019

ARKANSASRogers School District No. 30 of Benton CountyMay 12, 2009 . . . . . . $76,835,000

KANSASDickinson County Unified School District No. 473 (Chapman)May 12, 2009 . . . . . . $2,000,000

ILLINOISCentralia (City)May 11, 2009 . . . . . . $1,500,000

CALIFORNIAKing City Public Financing AuthorityMay 4, 2009 . . . . . . $4,990,000

MASSACHUSETTSBrockton (City)May 8, 2009 . . . . . . $9,000,000

ARIZONAFountain Hills Unified School District No. 98May 8, 2009 . . . . . . $4,000,000

Municipal bond mutual funds attracted another giant slug of cash from investors last week as the industry remained a magnet for retail investor interest.

Investors hungry for more taxable Build America Bonds will have another crack at a relatively sizable offering this week when the Illinois State Toll Highway Authority issues up to $500 million of senior-priority revenue bonds amid an estimated slate of $5.6 billion of total new-issue volume, according to Ipreo LLC and The Bond Buyer.