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Wisconsin to Sell Debt as Tax Take Produces $1 Billion Surplus

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March 10 (Bloomberg) -- Wisconsin will sell $294.8 million in general-obligation refunding bonds this week in a negotiated sale as the state projects a budget surplus of almost $1 billion.

Surging tax revenue is driving improved fiscal performance in Wisconsin, with a population of 5.7 million. The improvement in the state’s tax collections ranked seventh in the nation during the 12 months ended in June, according to the Bloomberg Economic Evaluation of States.

The state had originally projected a surplus of $130 million as of mid-2015.

Bonds from Wisconsin issuers have gained 3.04 percent this year, trailing the 3.34 percent gain in the broad $3.7 trillion municipal market, according to Standard & Poor’s Dow Jones Indices.

To contact the reporter on this story: Tim Jones in Chicago at tjones58@bloomberg.net

To contact the editors responsible for this story: Stephen Merelman at smerelman@bloomberg.net Alan Goldstein

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