MuniLand Snaps: March 29, 2012

March 29, 2012

The Puerto Rico Electric Power Authority is planning to issue new revenue bonds designated as Series 2012A (Moody’s rating: Baa1; sale amount: $455,000,000; expected sale date: Apr. 9, 2012). The data for electric power use, which sustains the payments for these revenue bonds, is published on a monthly basis by the Puerto Rico Electric Power Authority (PREPA). You can also download the data from their official website.

Good Links

McKinsey: The bond market on acid

Bond Buyer: SIFMA barks at the MSRB about rules being too precise

Bond Buyer: Market outlook unclear as stressed cities choose unique strategies

Bond Buyer: Muniland accounting standard setter wants five-year projections in financial reports

Moody’s: Puerto Rico downgraded to Baa1 for $7.6 billion of outstanding power revenue bonds

Detroit News: Detroit City Council to consider consent agreement with state today

Reuters: Former bankruptcy judge tapped as Stockton mediator; 60-day-countdown clock starts

Reuters: Jefferson County to skip GO bond payments

Bloomberg: Harrisburg receiver calls for state-federal investigation

Todays the day Harrisburg: Harrisburg has had “years and years of cronyism, arrogance, and public ignorance”

@Twitter Talk

Otis WhiteOtis White  @OtisWhite Philly suffers from the scourges of property vacancy and tax delinquency. Would a land bank solve both?
Barrett and GreeneBarrett and Greene  @GreeneBarrett Major improvements in state spending transparency in last 2 yrs; 46 states provide access to online checkbook
Rich SaskalRich Saskal  @RichSaskal_BB Reverse Midas touch RT @LisaHalverstadt Coyotes ownership saga isn’t only sports-related challenge for Glendale
Randall JensenRandall Jensen @randalljensen Moody’s further downgrades Stockton bonds on growing likelihood of defaults and haircut to bondholders
Rick SnyderRick Snyder @onetoughnerd The state will not just spend money on Detroit. We need to see real reforms and real results  #Reinvent
Changing GearsChanging Gears  @ChGears Have We Reached The Final Countdown For Detroit?
Tara Leo AucheyTara Leo Auchey @todaysthedayHBG Multiple valid questions & comments about issue of tax exempt properties in City & the resultant burden on Harrisburg taxpayers. 50% props exempt.
John GramlichJohn Gramlich  @johngramlich Poll finds NJ residents tired of political insults; on same day, Christie calls 3 lawmakers ‘pigs at the trough’
John BevacquaJohn Bevacqua  @NestedInterest Can Own Bonds & Eliminate Interest Rate Risk? Yes – Here’s How
Taylor RiggsTaylor Riggs  @TaylorRiggs_BB i wanna be a Muni God!! but since i can’t ill take #munigeeks and be proud of that instead.
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