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Highlights the advantages and disadvantages of investing in the extendible commercial paper market, as discussed at the Thomson Financial Short-Term Municipal Forum at the Roosevelt Hotel in New York. Investors' demand for greater diversity in terms of liquidity credit providers; Resetting of extendible commercial papers to a longer maturity date.

Reports on the issuance of commercial papers in Florida. Request for the expansion of the paper-backed pool of the Sunshine State Governmental Financing Commission; Creation of a commercial paper program by the Hillsborough County.

Reports that the University of North Carolina (UNC) in Chapel Hill and the North Carolina State University in Raleigh have received approval from the Board of Governors of UNC to issue commercial papers upto 100 million dollars. Aim of universities behind getting the approval; Estimated interest rate and savings from the commercial paper issues; Maximum limit for sale of commercial papers for the universities.

Johns Hopkins University of Baltimore, Maryland has expanded its commercial paper program and plans to price a series of tax-exempt bonds that amounts to between 10 million dollar and 12 million dollar. The program is broken into four series—Series A and B are tax-exempt and are to be issued by the Maryland Health and Higher Educational Facility Authority, while the C and D series are taxable and are to be issued by Johns Hopkins. The program's expansion is designed to improve cash management. Standard & Poor's Corp. has rated the commercial paper program A1-plus.

Reports on the expected sale of the tax-exempt commercial paper notes by state of Massachusetts as of December 2001. Reasons for the sale of tax-exempt commercial paper notes; Dealers for the series notes; Introduction of the state's fourth commercial paper program; Rating of the program according to Moody's Investors Service Inc.

Reports that the Harris County, Texas Toll Road Authority will sell commercial papers under a multi-million dollar short-term borrowing program approved by County commissioners in September 2001. Ways in which proceeds of the sale will be utilized; Dealer and bond counsel for the sale; Ratings of the commercial papers by various rating agencies.

Discloses that Los Angeles County is launching the first lease-backed commercial paper program undertaken by a California county. Use of proceeds of the issuance to refund existing bond anticipation notes; Growing interest of municipal governments in commercial paper; Unique features of the Los Angeles County program.

Reports the plans of North Texas Tollway Authority and Harris County Toll Road Authority to implement commercial paper program in Dallas, Texas. Benefits of the commercial paper program to the authority; Rating of the program by the Standard & Poor's; Proceeds of the program.

Focuses on United States-based local governments' plan to take legal action over investments in defaulted commercial paper sold by California-based utility Pacific Gas & Electric Co. State of Tennessee's struggle to close its fiscal 2001 budget gap; Fountain Hill, Arizona officials' outrage over an investment made for the city by BNY Western Trust Co.

Reports on Florida issuers' increased interest in commercial paper programs, according to industry professionals and government officials.

Focuses on the plan of San Francisco Public Utilities Commission's finance officials to use a commercial paper program to jump-start most of $304 million of water bonds authorized by voters on November 4, 1997. Preparations made for a request for qualifications from financial advisers to structure the program; Outlook for the program; Outcome of a study on the backlog of unfunded capital projects in the city.

Reports on the University of Michigan's sale of $29.6 million of commercial paper notes which was the first in $120 million program for the Ann Arbor-based institution. Interest rates of the notes; Management process of the commercial paper notes; Rates given to the paper by the rating agencies; Anticipated selling costs of commercial paper notes for the succeeding 18 months.

Reports that some portfolio managers have turned to commercial paper and variable-rate demand notes (VRDNs) while waiting for money market products in the United States to cheapen up in the latter part of 1998. James Hannan's bid on 120-day issues; Appeal of VRDNs; Federated Investors Inc.'s extension of portfolios' maturities.

Reports the efforts of bond market professionals to bring normalcy in Texas after the terrorist attacks in New York and Washington D.C. Intention to roll out due commercial papers in Dallas-Fort Worth International Airport; Request for money market funds; Confidence on the ability of market to recover.

Reports on the plan of California to sell tax-exempt commercial paper in two tranches in January 2004. Purpose of the sale of commercial paper; Views of executives from rating agencies in the U.S. regarding the status of California; Number of projects that will benefit from the sale of the commercial paper.

Reports on money market fund managers' alteration of strategies and turning to paper subject to the alternative minimum tax (AMT) to boost their performance in the United States. Approaches of managers to add flexibility in adding AMT papers; Target of the AMT; Increases in investments in AMT papers.

Reports on the plans of Shelby County, Tennessee to sell $27 million of extendible municipal commercial papers (CP) in December 2001 to finance its capital outlay program. Amount of extendible municipal CP sold by the county in 2000 and 2001; Investors' concerns regarding the CP; General obligation bonds sold by the county in the month.

Reports on the San Francisco County Transportation Authority (SFCTA) commissioners' review of the terms and conditions for pricing a commercial paper in a negotiated sale. First capital market borrowing by the SFCTA; Plan to issue bonds to convert the commercial paper into long-term fixed-rate debt; Lehman Brothers as underwriter on the deal.

Reports on the launch of Miami-Dade County, Florida's $400 commercial paper program. Hiring of Merrill Lynch and Co. Inc. to replace Goldman Sachs and Co. as co-manager of the program along with Lehman Brothers; Advantages of commercial paper.

Reports the selling of commercial paper by the Texas Public Finance Authority in Dallas, Texas. Finance of government projects; Acquisition of liquidity for note program; Conversion of long-term debt.

Reports on the approval of three dealers for commercial paper issues and $285 million in revenue bonds in Dade County, Florida. Bond dealers; Includes Lehman Brothers and Goldman Sachs; Selection of Morgan Stanley to do a current refunding of $90 million of Series U Dade County Aviation bonds.

The article discusses proposals by the authors of a paper from Brookings Institution's Hamilton Project to address the need for investments in infrastructure in the U.S. Topics discussed include the proposed revival of the Build America Bond (BAP) program, structural inefficiencies of traditional tax-exempt bonds, and the call for the efficient use of the Army Corps of Engineers. Also mentioned are the proposals to reform the Harbor Maintenance Trust Fund and the federal gas tax.

Reports on the Alaska Housing Finance Corp.'s sale of the first chunk of its domestic commercial paper program in March 1999. Security of the commercial paper by the corporation's own liquidity rather than a third-party facility; Flexibility of the paper which allows its deals to be structured as either taxable, tax-exempt, or subject to the alternative minimum tax.

Reports on the plan of the Maryland Health and Higher Educational Facilities Authority to issue commercial paper on behalf of the Johns Hopkins Health System. Fitch Ratings' rating for the notes based on the hospital's credit provided by SunTrust Bank; Statements by Standard & Poor's on the hospital's need to monitor its debt level; Management of the notes by J.P. Morgan Securities Inc.

Reports on the closure of audit of the paper company International Paper Co. by the U.S. Internal Revenue Service due to a settlement between them. Impact of the closure on bondholders of the company; Reasons behind company's audit.

The article reports on petition of municipal issuers to be included in the U.S. Federal Reserve's Commercial Paper Funding Facility program. The petition came after the Fed has hinted will not include municipalities under its current terms. Municipal issuers argue that the Fed's desire to provide liquidity to the short-term paper should extend to their tax-exempt commercial paper and even to municipal tax and revenue anticipation notes.

The article focuses on the many people around the U.S. who pursue scripophily, the hobby of collecting antique municipal bond certificates. Among those are Paul Kinney, senior vice president in personal wealth management at UBS Securities LLC, and Bob Kerstein, former CFO of a wireless telecommunications company. Some of them claimed that they are attracted to old bonds because of its aesthetic or historical value, while others like to honor the issuers that they have worked with during their careers.

Reports that Minnesota-based solid waste company Liberty Paper Inc. has reached a settlement with the U.S. Internal Revenue Service's (IRS) appeals office with regard to private-activity bonds. Impact of outcome on the treatment of pending audits by the IRS; Views expressed by IRS national director for tax-exempt bonds Mark Scott on the significance of settlement; Details of Liberty Paper's case.

Reports that Dallas Area Rapid Transit will sell 500 million dollars of commercial paper in Dallas, Texas. Long-range capital finance plan; Revenue bonds approved by the voters that will be sold.

The article focuses on the release of paper on the general obligation bonds by the U.S. National Association of Bond Lawyers (NABL). It reveals that the priority of the paper is to educate bond lawyers and other market participants about general obligation bonds in the wake of the Detroit, Michigan, bankruptcy filings.

The article focuses on the financial vulnerability of the issuers of the pension obligation bonds (POB) as per the paper released by the researchers at the Center for Retirement Research at Boston College in Massachusetts as of July 2014.Topics discussed include use of POBs by governments that can take on the risks of the bonds, improvement in the POBs' rates since the economic recovery following the Great Recession and positive returns for POBs following the financial crises.

The article reports on the warning given by the Securities Industry and Financial Markets Association Inc. (SIFMA) over the proposed access-equals-delivery system of the U.S. Municipal Securities Rulemaking Board. It warns that the system will require dealers to undertake an enormous amount of expense to accommodate customers' standing requests for paper copies of primary offering documents. SIFMA believes that dealers should be required to provide investors with paper copies.

The article reports on the National Federation of Municipal Analysts' issuance of a final paper recommending disclosure practices for water and sewer financings that is unchanged from a draft that was released last September 2005 in the United States. The issuance of the paper is timely because it comprises disclosure of environmental issuers and coincides with the Governmental Accounting Standards Board's efforts to produce accounting and reporting guidelines for pollution remediation obligations.

The article focuses on the National Federation of Municipal Analysts (NFMA) which is urging municipal issuers to disclose more information about their toll road financings in its latest draft document containing disclosure recommendations for a specific sector of the municipal market. The 28-page paper, the twelfth issued by the NFMA, is to be posted on the group's Web site, www.nfma.org. The NFMA plans to ask market participants to comment on the recommendations by March 7, 2005, in hopes that the paper can be finalized by the middle of 2005.

Ohio State University plans to issue $70 million of commercial paper notes backed by the university's liquidity on June 12, 2003. It is the first deal under a $430 million authorization of which about $200 million of notes will likely be issued within the next 18 months. It also plans to issue about $260 million of long-term debt in July 2003. Credit rating companies Moody's Investors Service Inc. assigned its P-1 rating with a stable outlook to the university's overall authorized amount while Standard & Poor's Corp. assigned its A-1 plus rating for the commercial paper.

Stanford University will become California's first private institution of higher education to sell tax-exempt commercial paper revenue notes after a 150 million dollar negotiated deal on March 25, 2003. Once the conduit issuer, the California Educational Facilities Authority of Higher Education of California, completes the transaction, the university's total outstanding debt will amount to 1.4 billion dollar. Stanford's director of finance and bondholder relations, said the university had wanted to launch a tax-exempt commercial paper program for two years.

Reports on the proposed sale of $46 million of taxable commercial papers by West Lafayette, Indiana-based Purdue University Research Foundation, on February 12, 2003. Ratings assigned by various credit rating agencies to the sale of paper; Possible benefits of the sale; Potential areas for channelization of sale proceeds.

Reports the sale of the commercial paper of the state of New Jersey. Allocation of the proceeds from the sale; Agreement of the state with the Bank of Nova Scotia and Commerzbank Ag; Impact of the Increased revenue on the predicted corporate tax.

Reports that Phoenix, Texas city officials are preparing to close a commercial paper sale that will provide interim financing for water system upgrades and expansion. First use by the city of commercial paper as a short-term financing tool; Rating given by Moody's Investors Service to the water system revenue bond anticipation notes.

Reports on the plan of Wisconsin to sell a second general obligation bond issue. Similarity of the extendible notes to traditional commercial paper; Structure of the bond sale.

The article informs that Illinois will remarket limit-on-close (LOC) orders of its variable-rate paper from a 2003 issue with fresh letters of credit from six banks in November 2013 and mentions that the expired liquidity of the paper will be replaced by Depfa Bank PLC. It further mentions that the financial services company Moody's Investors Service Inc. and Standard & Poor's Corp. will rate the paper.

Reports on the joint venture of the University of Carolina at Chapel Hill in North Carolina and North Carolina State University to launch a multi-million dollar commercial paper program as of March 4, 2002. Provisions of the program for the two universities; Source of financing projects for the universities prior to the proposal; Plans for the use of sale proceeds.

Reports on the use of a commercial paper program by the Dallas-Fort Worth International Airport Board for security needs. Worth of the paper program; Security measures to be implemented through the program; Loss suffered by the airline in 2001.

Reports on the use of the commercial paper program to obtain cash in anticipation of future tax collections by Massachusetts as of December 2001. Revenue generated by the state through the sale; Uses to which the revenue generated from the sale will be put.

Focuses on financial disclosures on Web sites, as discussed at the National Association of Bond Lawyers' seminar held in Washington. Municipal and corporate issuers' responsibility for the information put on Web sites and on paper; Panel of bankruptcy and the Uniform Commercial Code.

Reports on the performance of money market funds in the United States as of September 8, 2000. Purchase of short-maturity paper; Tax and revenue anticipation note deal in Texas.

Highlights trends in the municipal money markets in the United States as of July 21, 2000. Increased rates on daily and weekly municipal paper; General market daily variable-rate demand; Pricing for the tax and revenue anticipation notes from Oakland.

Reports that the National Association of Bond Lawyers unveiled a position paper discouraging the introduction of laws with retroactive effective dates that can curb bond transactions in the United States. Concerns over bills that will retroactively affect debt issued after the date of the proposal's introduction; Impact of retroactive bills on the value of debt and disclosure procedures for bond attorneys.

The article reports on the plan of the University of Texas System (UTS) to bring its triple-A credit to two bond deals worth a combined 609 million dollars. Information is provided on the areas where proceeds of the sale will be spent, channels used by UTS for issuing debt, total outstanding UTS Permanent University Fund (PUF) bonds and commercial paper notes as of August 31, 2015, PUF net asset value in the quarter ended February 29, 2016, and annual UTS spending on investment in research.

The article cites a report from Fitch Ratings Ltd. indicating that municipalities borrowing short term are increasingly taking on refinancing risk in the U.S. The rating agency notes that the municipalities are increasingly relying on bond anticipation notes and extendable-maturity commercial paper for short-term financing. Fitch managing director Karl Pfeil states that commercial paper and note markets have grown because issuers want access to the low rates on the short end of the yield curve.