Las Vegas Airport Borrowing for Terminal 2nd Time in Four Weeks
Nevada’s Clark County, operator of the seventh-busiest U.S. airport by passenger traffic, is back in the municipal bond market for the second time in four weeks to help finance a $2.4 billion new terminal project.

Paterson Proposes Raising NYC Payroll Tax to Aid MTA (Update2)
New York Governor David Paterson proposed changes to a payroll tax aimed at assisting the Metropolitan Transportation Authority, saying it would restore about $230 million in revenue this year to the cash-strapped transit agency.

L.A. to Test Investors’ Deficit Aversion in $1.75 Billion Deal
The Los Angeles Unified School District, the nation’s second-largest after New York, plans to sell as much as $1.75 billion of bonds in mid-February to fund a school construction program called the largest in the U.S.

New York’s MTA Sells Delayed $657 Million Issue as Yields Fall
The Metropolitan Transportation Authority of New York, the largest U.S. public-transit agency, sold $608 million of Build America Bonds as yields on top-rated general obligations fell to their lowest level this year.

N.Y. MTA Poised to Move Forward With Bond Sale After Rating Cut
The Metropolitan Transportation Authority of New York, the largest U.S. public-transit agency, may proceed today with a $650 million bond sale that was postponed yesterday after cuts to its revenue forecast and credit rating.

Moody’s Cuts New York MTA Rating After Tax Drops (Update5)
Moody’s Investors Service cut its rating on a portion of the New York Metropolitan Transportation Authority’s $28.6 billion of bonds after the busiest U.S. transit agency said it may get $350 million less from a new payroll tax than it projected two months ago.

Muni Bonds Outperform Treasuries as N.Y. MTA Postpones Sale
Benchmark municipal bonds held their value better than U.S. Treasuries today as strong demand and below-average supply of new issues buoyed a market where the week’s largest offering was postponed.

Build America Subsidy Cut May Spur $150 Billion Taxable Munis
President Barack Obama’s plan to cut the federal interest subsidy for Build America Bonds sold after Jan. 1 may boost issuance of taxable municipal securities by more than 60 percent in 2010 to as much as $150 billion, Barclays Plc said.

N.Y. MTA Leads Slowest Week for Municipal Sales in Five Months
State and municipal bodies led by New York’s Metropolitan Transportation Authority plan to sell about $4.3 billion of fixed-rate securities in the slowest week for offerings, apart from holidays, in the last five months.

Muni Long-Term Yield Reaches 11-Week High Amid Defensive Moves
Yields on long-term benchmark municipal bonds climbed to the highest since mid-November this week, as selling pressure grew and buyers favored shorter-term investments amid concerns that interest rates will rise.