Refunding bonds

The lame duck session of Congress that convened this week may include passage of a tax bill released Monday night by Rep. Kevin Brady, R-Texas, the outgoing chairman of the House Ways and Means Committee.

A junk-rated $112 million deal without state backing will test the market's perceptions of the city's recovery from its Chapter 9 bankruptcy.

Detroit will issue $112 million of new money GO bonds and is also considering issuing refunding bonds in December.

The memo appears to respond to a March 29 written request by the National Association of Bond Lawyers to Christie Jacobs, director of the IRS Indian Tribal Governments/Tax Exempt Bonds Office to clarify the new law.

With Democratic majority, Rep. Richard Neal of Massachusetts, a supporter of tax-exempt bond financing, would chair the Ways and Means committee.

The state is ready to go with a $362 million forward refunding of appropriation-backed debt.

Recently announced streamlining and rumored budget cuts and layoffs at SIFMA are causing market participants to worry about its commitment to municipal securities.

Connecticut must deal with a timing discrepancy between a bond covenant and a legislative amendment intended to loosen its restrictions.

The not-for-profit university closed on a $195 million privately placed refunding that eases debt service demands.

The Internal Revenue Service has taken no action regarding tax-exempt refunding bonds that were issued for Gettysburg College in 2010, after closing an audit that appears to have been randomly initiated.