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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.