The Bond Buyer back issues from November 1999:
Raters Split on Tobacco; N.Y.C. Deal Runs the Gamut in Ratings.
Nov 01, 1999; ... The inaugural $705 million of bonds issued by New York City's Tobacco Settlement Asset Securitization Corp. will carry split ratings -- ranging from Aa1 from Moody's Investors Service for earlier maturities to A from Standard & Poor's for the final 29 years of the deal. Ratings ...
NASD's Northam Warns Firms Of Possible Monetary Sanctions.
Nov 01, 1999; ... Some municipal dealers are failing to send accurate trade data and timely official statements to the Municipal Securities Rulemaking Board and may face fines and other enforcement actions in the future, a National Association of Securities Dealers official said here Friday. ...
The Digest.
Nov 01, 1999 ... Federal Reserve Board Chairman Alan Greenspan brought back the punchbowl, making financial markets exuberant again, and municipal securities ended about 1/2-point higher in trading Friday. Complete market coverage by Monica Showalter appears on page 2 News A FEDERAL ...
Voters Confront $8.5 Billion of Bond Referendums.
Nov 01, 1999 ... Voters across the country will head to the polls tomorrow to decide on some 268 bond and bond-related questions that, if approved, would authorize more than $8.5 billion in new debt for everything from schools and museums to bridges and rail lines. By far one of the largest ...
Friday's Market: Munis End 1/2 Point Higher; Market Has New Perception on Rates.(Brief Article)(Statistical Data Included)
Nov 01, 1999; ... Federal Reserve Board Chairman Alan Greenspan brought back the punchbowl, reinvigorating financial markets, and municipal securities ended about 1/2 of a point higher in trading Friday. Traders noted strong buying, both from robust retail accounts and, perhaps more notably, ...
News In Brief.
Nov 01, 1999; ... Judge Rules Horler Violated Securities Law SAN FRANCISCO -- A federal administrative law judge Friday ruled that former Dain Rauscher Inc. financial adviser Virginia Horler violated securities laws by making material omissions and misrepresentations in offering statements she ...
Forsyth County, Ga., School Deal Offers $125 Million in Rare Paper.(Brief Article)
Nov 01, 1999; ... ATLANTA - Forsyth County, Ga.'s $125 million of school debt should offer investors the chance tomorrow to pick up sizeable parcels of uninsured paper from an infrequent Georgia borrower. The AA-rated debt will be packaged in serial maturities from 2003 through 2019, ...
Linton Leaves FTA for Siebert, Brandford.(Brief Article)
Nov 01, 1999; ... WASHINGTON - Gordon Linton left his position as head of the Federal Transit Administration Friday to join Siebert Brandford Shank & Co., starting today. Linton will become the director of the transportation group at the Washington, D.C., office of the Detroit-based ...
Dain Rauscher Fixed-Income Chief Set to Relinquish Post in Year 2000.(Brief Article)
Nov 01, 1999; ... After nearly a decade at the helm of Dain Rauscher Inc.'s fixed-income capital markets group, Nelson D. Civello has announced his plans to retire early, the company announced Friday. Civello, 53, will serve as president until January 2000, and will remain with the firm until May to ensure ...
O'Hare Project's Swelling Cost Catches Some Napping.(Brief Article)
Nov 01, 1999; ... CHICAGO - It wasn't just the public that was caught off guard last week by Chicago's disclosure that the original $1 billion price tag on an O'Hare International Airport project had ballooned to $3.7 billion. At least two investors said they were surprised, even though the ...
Washington Calendar.
Nov 01, 1999 ... MONDAY, NOVEMBER 1 The Supreme Court announces which cases it will hear in the future. The House and Senate are expected to give final Congressional approval this week to landmark legislation to overhaul the nation's financial industry, including allowing banks to ...
Pending EPA Rules Expected to Stagger Community Finances.(Brief Article)
Nov 01, 1999; ... WASHINGTON - The Environmental Protection Agency is expected to unveil final rules this week that likely will force thousands of local governments to take costly actions to prevent pollutants from entering streams and lakes. The EPA last year estimated that the ...
The Week Ahead: Bargain-Happy Retail Casts a Wary Eye on N.Y.C. Tobacco Debt.
Nov 01, 1999; ... New York City's long-awaited tobacco settlement deal is scheduled for this week, and its arrival has market participants anxious about opportunities for attractive yields. Consequently, the credit's debut will face stiff scrutiny from New York investors seeking out not only bargain prices ...
Deals at a Glance.(Statistical Data Included)(Brief Article)
Nov 01, 1999 ... Issue: New York Tobacco Settlement Asset Securitization Corp. revenue bonds Size: $700 million Day: Retail order period tomorrow and Wednesday; institutional pricing Thursday Structure: Rated maturities from 2003 through 2039, Planned payments from 2000 ...
Trend in the Region: Del. Echoes National Trend, Tax Referendums up 75%.
Nov 01, 1999; ... WASHINGTON - The dollar volume of proposed tax referendums in Delaware has risen by 75% over last year's requests, a sign that the state is joining the national trend of putting more money into schools to improve education. Nine school districts are asking the state ...
Northeast Bond-Watch.
Nov 01, 1999; ... MARYLAND Council Passes Bonds The Prince George's County Council approved legislation Oct. 19 authorizing the issuance of $93.7 million in general obligation bonds, according to Karen Campbell, a spokeswoman for the council. Only $53.479 million of the ...
Senate Green-Lights Tax-Extenders Measure.(Brief Article)
Nov 01, 1999; ... WASHINGTON - The Senate Friday quickly approved the Finance Committee's bare-bones $8.5 billion bill to extend several expiring tax provisions -- a move that puts the onus back on the House to act on its own version. The Senate action, taken under a procedure known ...
Split Decision: New York City's Tobacco Bond Ratings.(Brief Article)(Illustration)
Nov 01, 1999 ... Agency Rated Maturity Date Planned Principal Payment Date Ratings Moody's Investors Service 2003 to 2027 2000 to 2019 Aa1 2027 to 2034 2020 to 2024 Aa2 2034 to 2039 2025 to 2029 Aa3 Standard & Poor's 2003 to 2005 2000 to 2001 AA-minus ...
Talisman Named Acting Treasury Tax Chief.(Brief Article)
Nov 01, 1999 ... WASHINGTON - President Clinton has named Jonathan Talisman acting assistant Treasury secretary for tax policy, the Treasury announced Friday. Talisman, who has been deputy assistant secretary for tax policy since December 1998, replaces Donald C. Lubick, who retired ...
New Jerseyans to Vote on $500 Million Transport Bond.(Brief Article)
Nov 01, 1999; ... New Jersey lawmakers, unable to agree on a plan to fund the state's cash-strapped Transportation Trust Fund, will ask voters Tuesday to approve a $500 million bond referendum intended to provide temporary funding for the state's transportation needs until a more permanent solution can be ...
Budget-Cutting Efforts Trim Hospital Budgets to the Bone.
Nov 01, 1999; ... In some municipal market circles, the Balanced Budget Act of 1997 has taken on a new nickname -- the Law of Unintended Consequences. When passed, the bill's Medicare cuts were projected to save the federal government $103 billion over five years. Today, they're estimated at ...
Revised Figures Lessen the Sting of October's Volume Drop-Off.(Statistical Data Included)
Nov 01, 1999; ... New-issue volume continued to fall in October compared to last year's levels. But the dramatic 28.7% decline is expected to moderate once $3.48 billion of bond deals that closed Friday, Oct. 29, are added to the totals, bringing the month's volume to $18.83 billion, rather than $15.35 ...
LONG-TERM BONDS: January-October.(Illustration)(Statistical Data Included)
Nov 01, 1999 ... 19991998 VolumeNo. ofVolumeNo. ofPct. ($000s)Issues($000s)IssuesChg TOTAL$188,672,100 10,720 $237,590,40012,565-20.6% January17,983,000966 18,302,800868-1.7 February16,893,700...
LONG-TERM BONDS: October.(Illustration)(Statistical Data Included)
Nov 01, 1999 ... 19991998 VolumeNo. ofVolumeNo. ofPct. ($000s)Issues($000s)IssuesChg TOTAL$15,350,300 627 $21,525,3001,215-28.7% Development265,20023 402,500 71-34.1 Education2,126,9001554,372,600362 ...
LARGEST ISSUES: October 1999.(Illustration)(Statistical Data Included)(Brief Article)
Nov 01, 1999 ... Sale AmountIssuerDate $914.9Michigan State Hospital Finance Authority10/6 600.0New York City Transitional Finance Auth., general purpose (TAX/TE) 10/13 500.0California, GOs (cpt)10/13 430.0California Health ...
BOND SALES BY STATE: January-October.(Illustration)(Statistical Data Included)(Brief Article)
Nov 01, 1999 ... 19991998 StateRankVolumeRankVolumePct Chg Alabama 15$3,304,00027$2,567,10028.7% Alaska35 1,330,500 48639,600108.0 Arizona222,583,50021 3,544,600-27.1 Arkansas381,021,70042889,00014.9 California1 ...
NEW-ISSUE VOLUME NOTES.(Statistical Data Included)(Brief Article)
Nov 01, 1999 ... The new-issue volume tables are based on information compiled by The Bond Buyer from Securities Data Co.'s data base on Friday, Oct. 29, 1999. All figures are preliminary and subject to revision. Private placements and municipal forward sales are included in the volume figures. Short-term ...
Short-Term Tax-Exempt Yields.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... Oct 29, 1999Oct 28, 1999Oct 30, 1998 Selected MIG-1/SP-1+ Notes California Rans 4s (June 00)3.453.452.79 Los Angeles Co Trans 4s (June 00)3.453.452.77 Texas Trans 4 1/2s (Aug 00)3.783.78 2.77 Municipal Market Data Commercial Paper (30-Day)3.65 ...
Municipal Market Data General Obligation Yields.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... AaaAaa (pure)(ins)AaABaa 20003.803.883.85 4.05 4.25 20044.584.704.684.835.15 20095.05 5.205.18 5.355.70 20145.555.705.685.856.12 2019 5.81 5.955.936.076.30 20245.86...
Market Indicators.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... Dollar amounts are in millions Day's19991999 Daily Yesterday ChangeHighDateLowDate Municipal Bond Index (8%)109-14 +29/32126-01(1/29)108-05 (10/26) Municipal Bond Index (6%)93-26 +25/32100-22(8/2)92-23 (10/26) 40 Average ...
Municipal Market Yields.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... Values at 10/28/1999 -- Basis Point Change from 10/21/1999 AaaAaABaa 20003.85-054.05-054.25 -05 4.50-05 20044.60-054.80-055.00-05 5.2500 20095.15-055.35-055.55-055.80 00 20145.65 00 ...
U.S. Securities Prices.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... Prices as of 4 p.m. EDT. Source: GovPX Inc.'s Prophesy Treasury Pricing Treasury Bills Yesterday'sPrev. Day'sYesterday'sTotal (in percent of discount) Bid/OfferBid/OfferBid YieldVolume 3M -- 1/27/20004. 960/950 4. --/9555.104572 6M -- ...
New-Issue Balances.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... (,000 Omitted)*Since initial reoffering Revised upward since last report AmountDateRECENT OFFERINGSSoldBalance $22,79510/14Fort Mill Sch. Dist. No. 4, S.C.$14,590 All Sold 55,48010/28Westchester Co., N.Y....
Reoffering Yields.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... NRO - Not Reoffered; S.B. - Sealed Bid; SNA - Sold, Not Available Offer AmountDate ($Mil) RECENT OFFERINGS 1 Year 5 10 15 20 25 30 Aaa - AAA 10/26 27.9Cambridge, Mass.3.844.555.055.58 5.84 .... .... 10/267.5West Hartford, Conn.3.604.53 5.035.50...
Visible Supply.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... CompetitiveNegotiatedTotal ($000s)($000s)($000s) CompetitiveNegotiatedTotal ($000s)($000s)($000s) 1999Weekly Averages 10/292,949,5383,071,9496,021,487 10/222,880,8893,314,366...
Placement Ratio.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... No.Total Amt.Sales fromPlacement NewNew Accts.New Accts.Ratio Accts.($000s)($000s)(%) No.Total Amt.Sales fromPlacement NewNew Accts.New Accts.Ratio Accts.($000s)...
General Obligation Bond Prices for Oct. 29, 1999.(Statistical Data Included)(Illustration)
Nov 01, 1999 ... IntermediateLong-Term Bond and Ratings (Moody's/S&P's/Fitch)Dated Cpn &MaturityYield PricePrevChgCpn &MaturityYieldPrice PrevChg STATES California Series 1998 (Aa3/AA-/A)12/1/98 5% 12/1/044.37102 7/8 102 1/2 3/84 1/2% ...
subject to the alternative minimum tax for individuals;.
Nov 01, 1999 ... The list of bonds priced for the Municipal Bond Index was revised after the October 29 pricing. The new coefficient for the 8% index is 0.9622. It was derived by dividing today's 8% index (109.425106) by the average converted price of the new set of 40 bonds (113.727603). The new ...
Municipal Bond Index (6%).(Statistical Data Included)(Illustration)
Nov 01, 1999 ... 3 pmNoon3 pmNoonWeek YesterdayYesterdayPrev. DayPrev. DayAgo The Bond Buyer Municipal Bond Index93-26 93-19 93-01 93-01 93-01 Friday, October 29, 1999MaturityPar CallDollarConversion Converted Date...
Municipal Bond Index (8%).(Statistical Data Included)(Illustration)
Nov 01, 1999 ... 3 pmNoon3 pmNoonWeek YesterdayYesterdayPrev. DayPrev. DayAgo The Bond Buyer Municipal Bond Index109-14109-05108-17108-17 108-17 Friday, October 29, 1999MaturityPar CallDollar Conversion Converted Date...
Futures Markets.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... Thursday, October 28, 1999 Municipal Bond Index Del. MonthHigh Low SettleChange Dec 99110-17109-22110-12+1-00 Mar 0094-17 93-2794-15+1-03 Estimated number of contracts traded: 5,000 Number of contracts traded on 10/28: 3,646 Open interest on ...
Municipal Bond Prices.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... These 40 bonds are priced and evaluated daily at about 3 p.m. by 5 municipal bond dealer-to-dealer brokers: Butler, Larsen, Pierce & Co.Chapdelaine & Co. J.F. Hartfield & Co.J.J. Kenny Drake Inc. Municipal Partners Inc. All figures are rounded to the nearest eighth when reported in ...
Competitive Bond Offerings.(Statistical Data Included)(Illustration)
Nov 01, 1999 ... *Tentative amount; raf=rating applied for; NR=Not Rated ---- ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Monday, November 1 + ...
Competitive Note Offerings.(Illustration)(Statistical Data Included)
Nov 01, 1999 ... ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Monday, November 1 Center Moriches UFSD NY Tax Antic3,000 2 pm E ...
Negotiated Bond Offerings.(Statistical Data Included)(Illustration)
Nov 01, 1999 ... Tentative dates for negotiated sales of $5 million or more. raf=rating applied for; NR=Not Rated ---- ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of November 1 Phoenix Indl Dev AZ Multifam ...
Sealed Bids Invited.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999; ... CALIFORNIA Official Report to The Bond Buyer Belmont Redevelopment Agency $29,000,000 (Approximate) Sealed bids 10 am PST Nov 17. Los Costanos Community Development Project Area Senior Tax Allocation Bonds, Series 1999A and 1999B. ...
Results of Negotiated Sales.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999; ... ARIZONA Arizona Transportation Board Oct 29, 1999 $151,080,000 Department of Transportation Highway Revenue Bonds, Series 1999 (book entry). Dated Oct 15, 1999. Due Jul 1, 2000 to 2019. First coupon Jul 1, 2000. ...
Results of Competitive Sales.(Statistical Data Included)(Illustration)
Nov 01, 1999; ... ARKANSAS Mayflower School District No. 78 Oct 26, 1999 $597,329 Faulkner County, Refunding and Construction Bonds (bank qualified). Dated Nov 1, 1999. Due Dec 1, 2000 to 2013. The bonds shall be callable in accordance ...
Bond Calls & Redemptions.(Statistical Data Included)(Illustration)(Brief Article)
Nov 01, 1999 ... PA=Paying Agent; RE=Registrar; TR=Trustee ISSUE AMOUNT DATED DATE DUE DATE CALL DATE CALLER STATUS MARYLAND Washington Suburban Sanitary District, Administration Building Construction bonds, of 19897,500,000 n/a Dec 1, 00 to 09 Dec 1, 99 Chase ...
Negotiated Bond Offerings.(Statistical Data Included)(Illustration)
Nov 02, 1999 ... Tentative dates for negotiated sales of $5 million or more. raf=rating applied for; NR=Not Rated ---- ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of November 1 Phoenix Indl Dev AZ Multifam ...
Sealed Bids Invited.(Statistical Data Included)(Illustration)
Nov 02, 1999; ... ARIZONA City of Mesa $38,500,000 (Exact) Sealed bids 10 am MST Nov 10. General Obligation Bonds, Series 1999 (book entry). Dated Nov 1, 1999. Due Jul 1, 2009 to 2018. L.O.: Gust Rosenfeld, Phoenix. ...
Nassau Co. To Cut Jobs, Raise Taxes: Seen as Right Move For Fiscal Recovery.
Nov 02, 1999; ... Financial professionals yesterday hailed the $2.2 billion budget Nassau County's Republican-controlled legislature passed Friday, saying their agreement to cut government jobs and raise property taxes may be Nassau's first firm step on the road to fiscal recovery. Bruce ...
Stanford's Failed Health MergerLeads Moody's to Review Credit.(University of California San Francisco-Stanford Health Care system )(Brief Article)
Nov 02, 1999; ... LOS ANGELES - Moody's Investors Service has placed its underlying A2 rating on $305 million of revenue bonds for the University of California San Francisco-Stanford Health Care system under review for a potential downgrade Friday after Stanford officials voted to dissolve the ...
The Digest.
Nov 02, 1999 ... Municipal prices were narrowly mixed in modest trading yesterday as market participants looked to the week's new issues and Friday's key October employment report to spell out near-term price prospects. Complete market coverage by Sean Monsarrat appears on page 2 News ...
Are Mergers Unhealthy? Health Care Execs: Linkups Can Do Harm.
Nov 02, 1999; ... CHICAGO - Have hospital integration strategies failed? The answer depends on what hospitals expected to buy with all the mergers and acquisitions that have dominated the headlines over the past decade, according to a lineup of health care finance experts who spoke at ...
Monday's Market: Munis Finish Mixed; Connecticut's$245 Million Deal Tests Primary.(Brief Article)(Statistical Data Included)
Nov 02, 1999; ... SAN FRANCISCO - Municipal prices were narrowly mixed in modest trading yesterday as market participants looked to the week's new issues and Friday's key October employment report to spell out near-term price prospects. Bids for dollar bonds were slightly firmer in ...
News In Brief.(Brief Article)(Statistical Data Included)
Nov 02, 1999; ... Construction Spending Up 0.5% in September WASHINGTON -- Additional spending for public projects such as streets and schools pushed overall U.S. September construction outlays surprisingly higher, government data showed. According to the Commerce Department, the total ...
Increasingly, Governments Look To 63-20 Financing for Projects.
Nov 02, 1999; ... WASHINGTON - State and local governments, in an effort to meet growing demand for transportation infrastructure, increasingly are reaching out to private companies to help them construct and operate highways, bridges, and transit systems. Projects that are in the ...
A Clarification.(Correction Notice)
Nov 02, 1999 ... The key was inadvertently omitted from a chart on the front page of yesterday's edition of The Bond Buyer. The gray line represented the percentage of bond referendums passed in each general election since 1990, and corresponded ...
California's MWD Using Web for $100 Million Sale.(Brief Article)
Nov 02, 1999; ... LOS ANGELES - The Metropolitan Water District of Southern California plans to competitively sell $100 million of water revenue bonds electronically for the first time today. At 8:30 a.m. Pacific Standard Time, the district will collect binds on its debt over the ...
Enforcement: Both Sides Praise Ruling in Virginia Horler Case.
Nov 02, 1999; ... SEC officials and lawyers representing former Dain Rauscher Inc. banker Virginia Horler each claimed victory yesterday, after administrative law judge Brenda Murray found Horler violated the federal securities fraud laws in connection with a Nevada County, Calif., land-based financing, but ...
Tax Legislation: GFOA, Others Criticize Bills to Limit Tax-Exempts.(Brief Article)
Nov 02, 1999; ... Two bills introduced last month by a South Carolina congressman could "broadly threaten tax-exempt financing for myriad public services provided by state and local governments," seven groups representing state and local governments charged in a letter sent yesterday to the bills' author. ...
Lack of Coverage, HMO Reforms Top Health Group's List of Concerns.(Brief Article)
Nov 02, 1999; ... Not-for-profit hospitals must marshal their political clout to roll back some of the more draconian elements of the Balanced Budget Act of 1997, according to Kenneth E. Raske, director of the Greater New York Hospital Association. Like a timid giant, the health care industry -- ...
Market 'Chaos' Forces HMOs to Abandon Long-Term Plans.(Brief Article)
Nov 02, 1999; ... The ongoing changes affecting the managed care industry are forcing officials to tackle problems differently as they grapple with double-digit cost increases and uncertainty about legislative action. The approach of drafting five-year plans is no longer relevant in the midst of ...
HMO Exec: Quality Management Needed to Cut Health Care Costs.(Brief Article)
Nov 02, 1999; ... Health insurers must shift their emphasis to "quality management" from a more bottom-line mentality if they want to bring health care costs down, Alan Muney, the chief medical officer for Oxford Health Plan, said yesterday during The Bond Buyer Health Care conference. Muney ...