The Bond Buyer back issues from May 2001:
Staying Heavy on Supply: Utilities Help Keep Issuance Bandwagon Rolling.
May 01, 2001; ... Significant increases in refundings and utilities bonds fueled much of April's issuance volume, which, despite slipping from March's 2001 peak of $24.8 billion, continued to soar over last April's figures. "The market's been a little heavy with supply over the past month," said ...
Tax Committee Chairman Thomas Optimistic About Bond Proposals.
May 01, 2001; ... House Ways and Means Committee chairman William M. Thomas thinks Congress may be able to take action this year on some of the favorable bond measures proposed recently by the Joint Tax Committee in its tax simplification plan. "I believe we can move a lot of the bond suggestions ...
MSRB StaysWith MarketPro Concept: MSRB to Explain, Address Concers.
May 01, 2001; ... WHITE SULPHUR SPRINGS, W. Va. -- The Municipal Securities Rulemaking Board will not make major changes in its controversial sophisticated market professional concept, but rather will explain it in more detail and address the concerns that have been raised about it in a new notice to be ...
The Digest.
May 01, 2001 ... Underwriters sold sizeable new loans from Texas and Florida issuers in the primary yesterday, while secondary market prices were little changed in lackluster trading. Complete market coverage by Sean Monsarrat appears on page 2 News PERSONAL INCOME in March grew at ...
Monday's Market: Municipal Bonds End Unchanged; Fla., Tex. Issues Come to Market.
May 01, 2001; ... Underwriters sold sizeable new loans from Texas and Florida issuers in the primary yesterday, while secondary market prices were little changed in lackluster trading. Setting narrow price parameters for the municipal market, governments traded in mixed fashion for most of the ...
News In Brief.
May 01, 2001 ... Treasury Estimates Quarterly Borrowing WASHINGTON -- The Treasury Department announced that it expects to pay down $187 billion in marketable debt during the second quarter and to target a cash balance of $60 billion on June 30. The paydown consists of $178 billion in ...
FDIC Sues Texas MUD for Loan Default.
May 01, 2001; ... The Federal Deposit Insurance Corp. has sued a municipal utility district in Trophy Club, Tex., alleging the district owes about $4.8 million to a failed savings and loan for nonpayment of a loan for water, sewer, and drainage renovations. The suit also suggests the MUD issue bonds to ...
DFW Airport, Grapevine Approve Plan to End Stalemate.
May 01, 2001; ... The Dallas-Fort Worth International Airport Board yesterday gave approval to a tax-sharing agreement approved Friday by the Grapevine City Council, but the deal has yet to be cleared off by airport officials and the cities of Dallas and Fort Worth, which own the airport. ...
Ten Firms Seek TBMA's Protocol Development Contract.
May 01, 2001; ... TradeWeb, an electronic trading system that is a major player in the Treasury market, Bloomberg, and Depository Trust & Clearing Corp. are three of the 10 companies vying to win a contract from The Bond Market Association to develop a protocols system that will standardize computer ...
Company Execs on Regulatory, Other Issues Facing E-Platforms.
May 01, 2001; ... The Justice Department's antitrust investigation of some of the electronic trading systems backed by Wall Street firms in the fixed-income markets may have ended, the head of one such system said Saturday. "Most of us see now that that's past," Thomas Vales, the chief executive ...
Housing: Study: Expect More Unused-Proceeds Calls If Rates Stay Low.
May 01, 2001; ... There will be a "flurry" of unused-proceeds calls on single-family mortgage revenue bonds next year if interest rates do not rebound from their currently low levels, a new study predicts. Although unused-proceeds calls are becoming less common and less severe over time, bonds ...
Health Care: Siegal, Specialist in the 'Tough' Deals, Jumps to Ziegler.
May 01, 2001; ... Health care specialist Bonnie R. Siegal, known for managing innovative deals like the recent tender offer for St. Peter's Hospital in New Brunswick, N.J., has left First Albany Corp. to join Ziegler Capital Markets Group. "Ziegler affords me a tremendous opportunity," Siegal, ...
Rating Agencies: Live, From S&P: It's Online, Real-Time, Downloadable Ratings.
May 01, 2001; ... Standard & Poor's has launched a new online service that will deliver real-time rating information in an XML format, which will allow users to download and customize the data. "RatingsXpress represents the next generation of information products for the credit market services ...
Minnesota House GOP Unveils Tax-Cut Plan; Some Ventura Proposals Dropped.
May 01, 2001; ... The budget and tax debate among Minnesota lawmakers advanced yesterday when the House Republican leadership released a $1.56 billion tax-cut plan that includes property tax relief and a sales tax rebate, but scraps the income-tax rate cuts and sales tax extension as proposed by Gov. Jesse ...
State Lawmaker: Latest N.H. School Funding Proposal Unlikely to Pass.
May 01, 2001; ... In an attempt to draw moderates back into the fold, New Hampshire Republicans are pushing a revised school funding proposal, but a key moderate is predicting that the new plan will likely be dead on arrival. The latest version of the GOP's school funding proposal is heading back ...
Waterbury, Conn., Will Issue Up to to $45 Million in Bans.
May 01, 2001; ... Waterbury, Conn., in conjunction with the state's Office of Policy and Management and state Treasurer Denise L. Nappier's office, will issue $43 million to $45 million in bond anticipation notes on May 9. The sale, which is the first phase of eliminating the city's estimated ...
Trends in the Region: Report: Facility Costs Can Make or Break Charter Schools.
May 01, 2001; ... A report released yesterday by the Charter Friends National Network and Ksixteen indicates that one of the most important factors in a charter school's success is how it handles the costs of classrooms, and that schools that can issue bonds generally fare better than those that use other ...
ARIZONA: Rolling Field of Grass.
May 01, 2001 ... Engineers working on a new Arizona Cardinals stadium in Tempe are looking for a way to move more than 14 million pounds of live sod in and out of the facility on a huge tray. The $335 million facility would be the first National Football League stadium to feature a removable ...
COLORADO: Wide Open Spaces.
May 01, 2001 ... Jefferson County commissioners last week approved a plan to issue $31.25 million of revenue bonds to purchase a 445-acre former Young Men's Christian Association camp and buy other land to be used as open space. The bonds will be sold out of ...
OKLAHOMA: Topping Texas?
May 01, 2001 ... State Sen. Stratton Taylor is now calling his proposal to model a revamped tax code in Oklahoma after the system used in Texas the "Texas Plan Plus" after state university researchers expressed some concerns with his original idea. Stratton's original proposal, which he dubbed ...
OKLAHOMA: New Digs.
May 01, 2001 ... Construction on a new 37,500-square-foot administration building in Payne County is set to begin soon, after commissioners opened bids on the project last week. Officials in Stillwater, the county seat, sold $4.98 million of revenue bonds to finance the project in January ...
OKLAHOMA: Foundation Deal.
May 01, 2001 ... Standard & Poor's and Moody's Investors Service has assigned triple-A ratings to the $95.9 million of tax-exempt revenue bonds that the Samuel Roberts Noble Foundation of Ardmore, Okla., plans to issue May 9. The debt, which would be used to finance more than 165,000 square ...
Texas: Mayoral Challenge.
May 01, 2001 ... Houston City Councilman Orlando Sanchez last week announced that he would run for mayor in the November election, citing what he termed current Mayor Lee Brown's bad management as a major factor in his decision. "When our city's leader repeatedly fails to take the right action, ...
Texas: Elizabeth Albanese.
May 01, 2001 ... The Texas Education Agency is looking into financial problems at the Treetops School International, the first charter school in Tarrant County. School officials predict that they will end the school year with a $48,000 deficit. The 258-student facility, located in Euless, a ...
BOND SALES BY STATE: January-April.
May 01, 2001 ... <Pre> 20012000 StateRankVolumeRankVolumePct Chg Alabama31$603,80030$517,600+16.7% Alaska41220,40049128,500+71.5 Arizona181,434,20027557,900+157.1 Arkansas45145,00029547,400...
LARGEST ISSUES: April 2001.
May 01, 2001 ... Sale <Pre> AmountIssuerDate $506.4 Colorado Department of Transportation, highway GOsApr 4 500.0 Arizona School Facilities Board, GOsApr 30 457.9 St. Louis, Mo., airportsApr 30 450.0 South Carolina, highway & misc purpose ...
NEW-ISSUE VOLUME NOTES.
May 01, 2001 ... The new-issue volume tables are based on information compiled by The Bond Buyer from Thomson Financial Securities Data's data base on Monday, April 30, 2001. All figures are preliminary and subject to revision. Private placements and municipal forward sales are included in the ...
Market Indicators.
May 01, 2001 ... Dollar amounts are in millions <Pre> Day's20012001 DailyYesterdayChangeHighDateLowDate Municipal Bond Index 101-14-2/32105-31(2/22)101-14 (4/30) 40 Average Dollar Price94.78-0.05102.99(1/11)94.78 ...
Short-Term Tax-Exempt Yields.
May 01, 2001 ... Apr 30, 2001Apr 27, 2001May 1, 2000 Selected MIG-1/SP-1+ Notes <Pre> Los Angeles Co Trans 5s (June 01)3.002.904.00 Texas Trans 5 1/4s (Aug 01)3.003.054.35 Municipal Market Data Commercial Paper (30-Day)3.653.654.35 One-Month Note ...
Municipal Market Data General Obligation Yields.
May 01, 2001 ... <Pre> AaaAaa (pure)(ins)AaABaa 20023.003.053.043.143.62 20063.944.054.044.164.60 20114.534.654.634.765.31 20165.025.165.145.295.81 20215.245.375.365.486.05 ...
U.S. Securities Prices.
May 01, 2001 ... Prices as of 3:45 p.m. EDT. Source: GoxPX Inc.'s Prophesy Treasury Pricing Treasury Bills <Pre> Yesterday'sPrev. Day'sYesterday's (in percent of discount)Bid/OfferBid/OfferBid Yield 3M --7/26/20013.800/7853.760/7503.888 6M -- ...
Municipal Market Data Total Returns.
May 01, 2001 ... Maturities 15 Years and Longer -- Periods Ending April 27, 2001 <Pre> PreviousMonthYearSince WeekTo DateTo Date1993 General obligation (composite)+0.056%-2.285%-0.838%+58.278%Aaa (pure)+0.051-2.296-0.654+57.549 ...
Municipal Bond Index Update.
May 01, 2001 ... The list of bonds used to calculate the Municipal Bond Index was revised after the April 30 pricing. The new coefficient is 0.9980. It was derived by dividing the April 30 index (101.447042) by the average converted price of the new set of 40 bonds (101.654671). The ...
Futures Markets.
May 01, 2001 ... Monday, April 30, 2001 Municipal Bond Index <Pre> Del. MonthHighLowSettleChange Jun 01101-04100-21100-31+5 Estimated number of contracts traded: 500 Number of contracts traded on 4/27: 780 Open interest on 4/27: 12,882 up 72 ...
New-Issue Balances.
May 01, 2001 ... (,000 Omitted)*Since initial reoffering Revised upward since last report AmountDateNEW OFFERINGSSoldBalance $22,5004/30Cornwall-Lebanon Sch. Dist., Pa.$9,500 $13,000 <Pre> RECENT OFFERINGS $47,6954/26...
Reoffering Yields.
May 01, 2001 ... Not - Reoffered; S.B. - Sealed Bid; SNA - Sold, Not Available Offer Amount Date ($Mil) RECENT OFFERINGS 1 Year 5 10 15 20 25 30 Aaa -- AAA 4/2519.5Murray City Sch. Dist., Utah ...4.05 4.61 5.15 ... ... ... 4/2465.0Stamford, Conn. ...
Municipal Bond Index.
May 01, 2001 ... <Pre> 3 pmNoon3 pmNoonWeek YesterdayYesterdayPrev. DayPrev. DayAgo The Bond Buyer Municipal Bond Index101-14101-14101-16101-20 101-31 Monday, April 30, 2001MaturityPar CallDollarConversion Converted Date...
Municipal Bond Prices.
May 01, 2001 ... These 40 bonds are priced and evaluated daily at about 3 p.m. by 6 municipal bond dealer-to-dealer brokers: <Pre> Butler, Larsen, Pierce & Co.Cantor Fitzgerald Partners Chapdelaine & Co.Hartfield, Titus & Donnelly, LLC J.J. Kenny Drake Inc.R.W. Smith & Associates Inc ....
Competitive Bond Offerings.
May 01, 2001 ... <Pre> ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALEFINANCIAL ADVISER LEGAL OPINION MATURING INSURERMDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Tuesday, May 1 Contra Costa Wtr Dt CA Wstwtr Rev Ref114,440 9 am P Public Fin Mgmt ...
Competitive Note Offerings.
May 01, 2001 ... <Pre> ISSUER STDESCRIPTIONAMOUNT($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL. LATEST DETAILS Tuesday, May 1 Durham CT GO Bond Antic979 11 am E People's Bank ...
Negotiated Bond Offerings.
May 01, 2001 ... Tentative dates for negotiated sales of $5 million or more. raf=rating applied for; NR=Not Rated ---- <Pre> ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGERINSURER MDY'S S&P FITCH FIRST APPEARED Week Of April 30Arizona Trans Board AZ ...
Sealed Bids Invited.
May 01, 2001 ... CALIFORNIA Official Report to The Bond Buyer Arcadia Redevelopment Agency $12,000,000 (Not to Exceed) Sealed bids 11 am PDST May 16. Tax Allocation Bonds, Series 2001 A (Central Redevelopment Project). Financial Adviser: ...
Results of Negotiated Sales.
May 01, 2001 ... CALIFORNIA Pomona Public Financing Authority Apr 26, 2001 $39,165,000 2001 Revenue Bonds, Series AD (Merged Redevelopment Project) (MBIA insured). Dated Apr 1, 2001. Due Feb 1, 2002 to 2033. First coupon Aug 1, 2001. ...
Results of Competitive Sales.
May 01, 2001 ... ARKANSAS Cabot School District No. 4 Apr 30, 2001 $2,080,000 Construction Bonds (bank qualified). Dated May 1, 2001. Due Feb 1, 2002 to 2007. Callable Feb 1, 2006 at par. Winning bid: Morgan Stanley, at n/a, ...
IRS Audit of Colo. Deal Explained.
May 02, 2001; ... The Internal Revenue Service reopened its audit into the 1991 sale of $6.59 million of zero-coupon revenue bonds by the Colorado Health Facilities Authority for a nursing home project after determining the deal was tainted because the purchaser of the bonds was an "insider" with privileged ...
Tribes Take to Bonding: Indian Nations Expected to Issue More Debt.
May 02, 2001; ... American Indian tribal governments likely will increase their issuance of tax-exempt bonds as their infrastructure needs increase and they develop greater sophistication in accessing the capital markets, according to an official at the Native American Finance Officers Association and a ...
SEC Warns Mutual Funds, BoardsOn Methods for Valuing Securities.
May 02, 2001; ... Mutual funds and their boards should continually review the methodology they use to price the securities in their portfolios to make sure the pricing accurately reflects either the market value or the "fair value" of those securities, the Securities and Exchange Commission warned Monday ...
The Digest.
May 02, 2001 ... Municipal bonds lagged a Treasury market rally yesterday, but a better tone translated into favorable results for more than $1 billion of large new issues. Complete market coverage by Sean Monsarrat appears on page 2 News THE TAX-EXEMPT MUNICIPAL GROUP at ...
Clarifications.
May 02, 2001 ... A story yesterday on Bonnie Siegal's move to Ziegler Capital Markets Group included a chart showing the firm's nationwide manager rankings for all public finance deals. Since Ziegler says it only handles health care, a more relevant chart would have shown just health care rankings. As of ...
Tuesday's Market: Municipals Lag Treasury Gains, But Better Tone Aids New Deals.
May 02, 2001; ... Municipal bonds lagged a Treasury market rally yesterday, but a better tone translated into favorable results for more than $1 billion of large new issues. Investors pushed up government bond prices all along the yield curve, spurred into action by a weaker-than-expected ...
News iN Brief.
May 02, 2001 ... March Construction Spending Rises 1.3% WASHINGTON -- Construction spending rose 1.3% in March, the Commerce Department announced. All construction spending climbed to $854.4 billion, following an upwardly revised 0.9% rise in February. The original February report ...
N.Y.C. Dept. Selling Mortgage Pool to Raise Cash for City.
May 02, 2001; ... The New York City Department of Citywide Administrative Services plans to close on a deal next month to sell 300 mortgages with total outstanding charges of $30 million. The mortgages will be sold to a newly created special purpose trust called the NYC Mortgage Sale Facilitation ...
Kansas Development Agency Selling $50 Million Deal for Topeka Hospital.
May 02, 2001; ... The Kansas Development Finance Authority today will issue $50.5 million of health facilities revenue bonds for Stormont-Vail HealthCare in Topeka to finance new surgery rooms and refund old debt. Moody's Investors Service last week assigned its A2 underlying rating with a stable ...
Michael Forrester.
May 02, 2001 ... Michael Forrester, a director at Standard & Poor's and a resident of Massapequa, N.Y., died Monday after a long illness. He is survived by his wife, Grace, and daughter, Michelle. Mr. Forrester, 44, worked at Standard & Poor's for 22 years, beginning in 1979 with a position as a ...
Denver City Council: Private Road Would Take Its Toll on Poor.
May 02, 2001; ... Alleging that a proposal by the Colorado Department of Transportation to allow two private companies to build a $400 million, partially elevated toll road over a major corridor through Denver would unfairly penalize poor residents, the City Council Monday approved a resolution opposing the ...
Standardized Agreement: TBMA to Update Negotiated Deal AAU for Electronic Age.
May 02, 2001; ... The Bond Market Association is forming a task force to review and update its Agreement Among Underwriters for negotiated municipal securities transactions. TBMA hopes the agreement can be revised to incorporate recent regulatory and market practice developments, including the ...
Infrastructure: House Proposal Would Create Zero-Interest Loan Bank.
May 02, 2001; ... Rep. Dennis J. Kucinich, D-Ohio, introduced legislation last week to create a federal infrastructure financing bank that would provide and administer about $500 billion in zero-interest loans over ten years for a variety of state and local projects. The bill, which is ...
Micah Green Becomes President of TBMA.
May 02, 2001 ... Micah S. Green formally became president of The Bond Market Association yesterday, exactly 14 years since he first joined the group's office here. Green said that under his leadership, TBMA's priorities will include ensuring passage of bankruptcy reform legislation and ...
Iowa Tobacco Securitization Off to Governor.
May 02, 2001; ... A bill that would permit Iowa to leverage its $2 billion share of the national tobacco settlement with a mixed sale of roughly $650 million in tax-exempt and taxable bonds is headed to Gov. Tom Vilsack's desk. The measure passed the House on Friday after having cleared the ...
With Big Needs Identified, Detroit Schools Plan Trip to Market.
May 02, 2001; ... With a formal review of its overall infrastructure needs now in hand, the Detroit Public Schools plans to return to the market next month with a $300 million to $400 million bond sale. The deal has been in the works for months. School officials earlier this year announced they ...
Public, Private Sector Working to Bring A Planetarium to 'Universe Knoxville'.
May 02, 2001; ... Officials from the private and public sectors in Knox County, Tenn., are working together to make the area home to another tourism attraction -- a $128 million state-of-the-art planetarium and science exhibition center that could be partially funded with $116 million of tax-exempt revenue ...
Fund Flows: Outflows Return During Tax Season After Big First Quarter.
May 02, 2001; ... Municipal bond funds stand at the crossroads today. Although the Investment Company Institute reported on Monday that the funds' first quarter this year was their most successful quarter in two full years -- year-to-date inflows swelled to $4.19 billion, with $1.05 billion being ...
Appeal of Ruling Filed in Little Rock Presidential Park Suit.
May 02, 2001; ... In hopes of overturning a lower court's decision, Little Rock resident Eugene Pfeiffer 3d Monday filed a 148-page appeal in the Arkansas Supreme Court alleging that plans by the city to condemn his property for inclusion in the bond-funded Clinton Presidential Park are illegal. ...
Baltimore Stadium Debt Safe Despite PSINet's Likely Bankruptcy.
May 02, 2001; ... The $92.6 million in tax-exempt bonds sold by the Maryland Stadium Authority to finance a $200 million, 70,000-seat football stadium in Baltimore will not be affected by the likely bankruptcy of a company that purchased naming rights to the stadium, sources said yesterday. ...
Trends in the Region: Short of Cash, Michigan Looks to Trim Budget, Not Tax Cuts.
May 02, 2001; ... Facing an unexpected revenue shortfall of up to $500 million, Michigan lawmakers now must decide whether they can come up with enough budget cuts to avoid freezing or scaling back the tax reductions that have been a staple of the current administration. While their level of ...