MuniLand

Seattle is starting construction on the First Hill Streetcar this month with plans to begin operation in early 2014. Hat tip: Seattle Bike Blog.

Good Links

Reuters: Tax collection up in all 50 states in 2011: Census

Barrons: Only 34 percent of municipal bond issuance is “new money;” the majority is refunding old bonds

Reuters:  U.S. muni funds report first outflows in four months

AP: South Dakota judge upholds cut in annual pension increases

NYT: Editorial accuses New Jersey governor of “political bluster” on train tunnel

Reuters: Slimmed-down budget for “new reality” Detroit unveiled

Bloomberg: Wells Fargo wins possession of garages in Stockton lawsuit

Chicago Tribune: Chicago mayor’s big-ticket approach lined with risks

Standard and Poor’s: TIFIA report

Cadwalader, Wickersham & Taft: ISDA March 2012 Supplement and Protocol: Updating Muni CDS

@Twitter Talk

NLC ‏ @leagueofcities MT @BondBuyerJen: upcoming hearing: Senate Finance Cmt tax reform hearing & what it means for state & local fiscal policy on 4/25 @ 10am

Cynthia Boaz  @cynthiaboaz Mississippi is the most religious state in the US. It also has highest rate of teen pregnancy, highest obesity rate, & lowest literacy.

CleveFed_ComDev  @CleveFed_ComDev Creative Destruction, the importance of demolishing vacant properties with a Cleveland focus  @HousingWire http://ow.ly/adpOP

Muni Market Advisors  @Muni_Mkt_Advis Tender-Option Bond issuance dropped slightly in MAR to $1.094 Bn from the 2.078 Bn in FEB. JPM has issued/sponsored ~70% of all issues YTD

Rodney Sullivan, CFA  @rnsullivan Morningstar’s popular rating system can be gamed by fixed-income funds, according to study. http://cfa.is/Iz6jUk (CFA Digest)

Epicurean Dealmaker  @EpicureanDeal Democratize away. RT @BondsOdds_com hey man what do you think of http://bondsodds.com for bond deals?

Otis White  @OtisWhite How D.C.’s third airport, BWI, thrived by serving bargain-minded travelers … and being served by rail. http://owl.li/aehi4

Muni Market Advisors  @Muni_Mkt_Advis Cal closes deal by adding a 25-year maturity and lowering 5 1/4s of 2035 by 2bps.

Suzette Hackney @suzyscribe Detroit’s accumulated budget deficit is now $265 million.