Refunding bonds

A continuing disclosure agreement debuted in documents for the state's advance refunding of Build America Bonds.

The $551 million issue wraps up a nearly $3 billion program; $7.7 billion of proposed pension obligation bonds rely on similar structure

The survey of securities firms showed pressures caused by unfunded pension obligations is expected to be the biggest issue for the muni market next year.

Detroit issued bonds Friday to fund the successful tender offer.

In the absence of advance refunding, Arizona plans to lock in rates by pricing $250.7 million of lottery refunding bonds that will not be delivered until next October.

Voters in the Southern California rejected a water and wastewater rate increase, and a subsequent rate hike triggered an unsuccessful recall election.

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.

Officials said the deal was undertaken to simplify the Valley Transportation Authority's debt portfolio.

House Republicans want to make permanent the $10,000 cap on state and local tax deductions and the lower tax rates for individuals, both of which are due to expire at the end of 2025.

The report found that 61% of the 341 finance officers who participated in the survey anticipate negative future impacts on their city's financial health from the termination of advance refundings, while 35% said they already have seen negative impacts.

The GLWA will sell $400 million of new money and refunding water and sewer revenue bonds next week.