The Bond Buyer articles from March 2006

The Bond Buyer archives from March 2006

Wednesday.
March 1, 2006... Regions A COLORADO SUPREME COURT DECISION ISSUED MONDAY REJECTS an argument by tax activist Douglas Bruce that the extension of an outstanding tax constitutes a tax increase. 3 THE NEBRASKA LEGISLATURE IS CONSIDERING several...

The High-Yield Squeeze: Sector Seeing Tight Spreads, Short Supply.
March 1, 2006... An increasingly voracious appetite for a limited supply of high-yield municipal bonds has reduced the rewards they once offered and is expected to keep credit spreads tight throughout 2006 as investors continue to squeeze what little they can...

IRS Hands Down $1.9 Million Penalty to Calif. Bond Attorney.
March 1, 2006... WASHINGTON -- The Internal Revenue Service has assessed a $1.9 million Section 6700 penalty on attorney Richard H. Hargrove for his participation in 19 abusive "joint powers authority" deals done between 1995 and 2000. However, Hargrove, a...

Chill in Issuance Continues: February Sees Decline of 35%.
March 1, 2006... For the second consecutive month, municipal issuance experienced a year-over-year decline, as tax-exempt borrowers sold 35% less debt in February this year than they did in 2005. Last month, $20.01 billion in municipal debt was brought to...

Munis Rise, Boosted by Competitive Deals.
March 1, 2006... The municipal bond market rose yesterday, encouraged by well-received competitive deals, including a $625 million offering from triple-A rated Georgia, and by substantial gains in Treasuries on the back of month-end buying and soft consumer...

In Brief: Preliminary 4Q GDP Shows 1.6% Growth.
March 1, 2006... WASHINGTON -- The economy posted slightly better results in the fourth quarter than previously reported, according to a Commerce Department report released yesterday, showing that real gross domestic product - the broadest measure of the...

In Brief: Consumer Confidence Declined in February.
March 1, 2006... The consumer confidence index declined in February after hitting its highest level in more than three years in January, slipping to 101.7 from an upwardly revised 106.8 last month, the Conference Board reported yesterday. The January index...

In Brief: Chicago PMI Slides To 54.9 in February.
March 1, 2006... The Chicago Purchasing Managers' Business Barometer dipped to 54.9 in February from 58.5 in January, the 33rd month out of 34 when the index showed economic expansion as defined by a reading above 50.0, the National Association of Purchasing...

In Brief: NAPM-NY BCI Rises To 369.4 in February.
March 1, 2006... The New York Business Conditions Index in the National Association of Purchasing Management-New York's Report on Business increased in February to 369.4 from 356.7 in January. The report's outlook/expectations index jumped to 73.1 in...

In Brief: Existing Home Sales Fall 2.8% to 6.56M Rate.
March 1, 2006... WASHINGTON -- Existing home sales declined 2.8% in January to a seasonally adjusted annual rate of 6.56 million units, the lowest level in almost two years, the National Association of Realtors announced yesterday. The figure nearly...

In Brief: Richmond Fed Reports Manufacturing Was Flat.
March 1, 2006... Overall manufacturing activity in the Fifth District "changed little in February," according to the monthly business activity survey conducted by the Federal Reserve Bank of Richmond, released yesterday. The manufacturing index increased...

In Brief: Richmond Fed Reports Service Growth Wanes.
March 1, 2006... Retailers' "employment contracted and wages grew more slowly than in January," according to the Federal Reserve Bank of Richmond service-sector activity survey, released yesterday. Overall, the service sector revenues index decreased to 9...

In Brief: Treasury 4-Week Bills Go at 4.90% High Yield.
March 1, 2006... WASHINGTON -- The Treasury Department yesterday auctioned $20 billion of four-week bills at a 4.390% high yield, a price of 99.658556. The coupon equivalent was 4.466%. The bid-to-cover ratio was 2.65. Tenders at the high rate were allotted...

In Brief: Treasury to Offer $25B 12-Day Cash Managements.
March 1, 2006... WASHINGTON -- The Treasury Department said yesterday it will auction $25 billion of 12-day cash management bills today. (c) 2006 The Bond Buyer and SourceMedia, Inc. All rights reserved. http://www.bondbuyer.com http://www.sourcemedia.com

Colorado High Court Rejects Argument That Tax Extension Constitutes Increase.
March 1, 2006... DALLAS -- A Colorado Supreme Court decision issued Monday rejects an argument by tax activist Douglas Bruce that the extension of an outstanding tax constitutes a tax increase. Bruce, the author of the state's 1992 Taxpayer Bill of Rights...

Forecast Gives Minnesota $181M More in '06-'07.
March 1, 2006... CHICAGO -- Minnesota expects an additional $181 million surplus in the current two-year fiscal 2006-07 budget, according to its state's annual February economic forecast released yesterday. Though modest, the figure represents a revised...

Full Board of N.Y.'s MTA Approves Underwriting Pool.
March 1, 2006... New York's Metropolitan Transportation Authority formally accepted a recommended list of new senior underwriters, co-managers, and swap counterparties yesterday. The vote by the full board followed Monday's recommendation of the new...

S&P Lowers Outlook on Temple University Health System.
March 1, 2006... Standard & Poor's yesterday revised its outlook to negative from stable on $195.1 million of Series 2003A bonds issued for Temple University Health System, citing the its "significant operating loss" for the first half of fiscal 2006. The...

Cox Given Clean Bill of Health Following Surgery.
March 1, 2006... WASHINGTON -- Securities and Exchange Commission chairman Christopher Cox announced yesterday that he has been given a "clean bill of health" from his doctors and has been told that no further treatment is necessary, almost one month after...

Airports: FAA Predicts Annual Passenger Increase of 3.2% Over 11 Years.
March 1, 2006... After an anticipated 0.2% slip in fiscal 2006 from fiscal 2005, the number of domestic air travelers expected to use the nation's airports is projected to increase at an average rate of 3.2% annually over the next 11 years and will reach one...

Appointments: Cox Names SEC Vet John Nestor To Become Public Affairs Director.
March 1, 2006... Securities and Exchange Commission chairman Christopher Cox has appointed John Nestor director of the Office of Public Affairs after breaking from tradition and transforming the position to one held by a career civil servant instead of a...

Fitch: Kelo Backlash Could Affect Municipal Credit Quality.
March 1, 2006... SAN FRANCISCO -- The backlash against the U.S. Supreme Court's Kelo ruling on eminent domain may end up restraining or negatively affecting municipal credit quality, according to a Fitch Ratings special report released yesterday. The June...

Redmond Takes Over as Acting Chief Of D.C.'s Housing Finance Agency.
March 1, 2006... WASHINGTON -- Thomas E. Redmond has quietly taken over the reins of the District of Columbia Housing Finance Agency as acting executive director, after longtime agency chief Milton Bailey resigned from the post, an agency spokeswoman said...

House Panel Sets March 16 Hearing on Tax-Exempts.
March 1, 2006... WASHINGTON -- The House Ways and Means Committee's select revenue measures subcommittee will hold a hearing in two weeks to review tax-exempt bond financing, according to the committee. Subcommittee chairman Dave Camp, R-Mich., announced in...

Competitive Bond Offerings.
March 1, 2006... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING...

Competitive Note Offerings.
March 1, 2006... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL....

Negotiated Bond Offerings.
March 1, 2006... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of February 27 Alaska Hsg...

Results of Negotiated Sales.
March 1, 2006... ALABAMA Limestone County Water and Sewer Authority Feb 6, 2006 $18,630,000 Revised to show correct yield in 2029, 2031 and 2035 Water Revenue Bonds, Series 2006 (book entry) Dated Feb 1, 2006. Due Dec 1, 2026 to 2035....

Results of Competitive Sales.
March 1, 2006... ARKANSAS South Conway County School District No. 17 of Conway County Feb 28, 2006 $1,560,000 Construction Bonds (bank qualified) (book entry). Dated Mar 1, 2006. Due Jun 1, 2007 to 2028. Callable Jun 1, 2011 at par....

Municipal Bond Elections.
March 1, 2006... Tuesday, March 07, 2006 *$56,000 Piedmont, CA $9,485 N Ottawa Co USD #239, KS $7,000 Rio Rancho, NM $75,000 York County, SC Tuesday, March 14, 2006 $75,000 Gilbert, AZ $10,000 ...

Nebraska Lawmakers Face Tax Cuts, Omaha Convention Center Measure.
March 1, 2006... CHICAGO -- With a gubernatorial election in the wings, the Nebraska Legislature is considering several measures in the next few weeks that would reduce taxes across the state and bring in additional revenues for Omaha to repay bonds it issued...

Wisconsin Officials Concerned OverPush for Revenue-Limits Amendment.
March 1, 2006... CHICAGO -- With a legislative hearing set for today, Wisconsin state officials, as well as those from local governments, are voicing concerns that a Republican-sponsored constitutional amendment limiting revenue collections will cut into their...

ILLINOIS: Governor Pushes Road Plan.
March 1, 2006... Gov. Rod Blagojevich last week announced a $10.4 billion, five-year highway improvement package, but it relies on passage of his $3.2 billion, general obligation-backed capital budget in the current legislative session later this spring. ...

MICHIGAN: Schimmel Leaves Hamtramck.
March 1, 2006... The state-appointed financial manager for Hamtramck resigned last week after working for six years to help fix the small city's finances. Louis Schimmel, a longtime municipal finance participant in Michigan, said he accomplished what he...

MICHIGAN: Hospital's $206M Deal Set.
March 1, 2006... William Beaumont Hospital has won final approval from three local governments in its bid to issue $206 million of bonds this month to fund expansion at its two hospitals in Troy and Royal Oak. The final municipal approval came from the...

MISSOURI: Ascension Affirmed.
March 1, 2006... Moody's Investors Service last week affirmed its Aa2 underlying rating and stable outlook on Ascension Health's senior debt and the Aa3 rating on its subordinate bonds as the system prepares to make a significant leap in capital spending over...

Long-Term Bond Sales: January - February.
March 1, 2006... 2006 2005 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $39,817,500 1,360 $53,299,000 1,825 -25.3 % January 19,806,300 687 22,525,900...

New-Issue Volume Notes.
March 1, 2006... The new-issue volume tables are based on information compiled by The Bond Buyer from Thomson Financial's database on Tuesday, Feb. 28, 2006. All figures are preliminary and subject to revision. Long-term bonds have final stated maturities...

Largest Issues: February 2006.
March 1, 2006... Amount Issuer Date $1,353.5 TSASC Inc., N.Y., tobacco Feb 22 885.0 Puerto Rico Government Development Bank, GOs (TAX) Feb 23 550.0 Bay Area Toll Authority, Calif., bridges Feb 14 526.7 Los Angeles Unified School District,...

Long-Term Bond Sales: February.
March 1, 2006... 2006 2005 Volume No. of Volume No. of Pct. ($000s) Issues ($000s) Issues Chg TOTAL $20,011,200 673 $30,773,100 1,008 -35.0 % Development 159,300 14 904,000 26 -82.4 Education 5,578,200 260 11,216,700 429 -50.3 ...

Bond Sales by State: January - February.
March 1, 2006... 2006 2005 Volume Volume Percentage State Rank ($000s) Rank ($000s) Change Alabama 26 442,300 20 $920,400 -51.9 % Alaska 23 533,200 35 217,800 +144.8 Arizona 28 388,900 11 1,385,000 -71.9 Arkansas 42 125,000 39...

Oklahoma Lawmakers Face $60M Taxable Deal for Hangars.
March 1, 2006... DALLAS -- The Oklahoma Senate will consider a bill this week authorizing the sale of $60 million in taxable bonds to help build and equip two new aircraft maintenance hangars at Tulsa International Airport for American Airlines. The bonds...

Municipal Market Data General Obligation Yields.
March 1, 2006... Aaa Aaa (pure) (ins) Aa A Baa 2007 3.35 3.39 3.39 3.49 3.69 2011 3.46 3.57 3.55 3.71 3.92 2016 3.75 3.88 3.86 4.02 4.23 2021 3.96 4.09 4.07 4.23 4.43 2026 4.12 4.24 4.22 4.39 4.59 2031 4.25 4.35 4.35 4.52 4.70...

U.S. Securities Prices.
March 1, 2006... Prices as of 3 p.m. ET. Source: GovPx Inc. Treasury Bills Yesterday's Prev. Day's Yesterday's (in percent of discount) Bid/Offer Bid/Offer Bid Yield 1M -- 3/23/2006 4.405/395 4.410/380 4.478 3M -- 6/1/2006 4.510/500...

Short-Term Tax-Exempt Yields.
March 1, 2006... Feb 28, 2006 Feb 27, 2006 Mar 1, 2005 Selected MIG-1/SP-1+ Notes California Rans 4 1/2s (June 06) 3.23 3.25 2.02 Los Angeles Co Trans 4s (June 06) 3.23 3.23 2.05 New Jersey Trans 4s (June 06) 3.30 3.35 2.09 Texas Trans...

Market Indicators.
March 1, 2006... Dollar amounts are in millions Day's 2006 2006 Daily Yesterday Change High Date Low Date Municipal Bond Index 115-13 +8/32 115-13 (2/28) 113-22 (2/1) 40 Average Dollar Price 104.11 +0.21 104.11 (2/28) 102.31 (1/30) ...

Merrill Lynch Corporate Bond Indexes.
March 1, 2006... Performance Comparisons for Feb. 27, 2006 Aaa-Baa Rated Corporates Index Avg. Pct. of Total Return % Close Yield Market Prior Wk. Y-T-D ML Corporate Master 1545.10 5.59 100.00 -0.13 -0.09 Intermediate (1-10 years) 1091.29...

Municipal Bond Index Update.
March 1, 2006... The list of bonds used to calculate the Municipal Bond Index was not revised after the Feb. 28 pricing. No new bonds qualified for inclusion in the index. As a result, the coefficient remains at 1.0242, the average coupon at 4.96%, the...

New-Issue Balances.
March 1, 2006... (,000 Omitted) * Since initial reoffering + Revised upward since last report Amount Date NEW OFFERINGS Sold Balance $610,110 2/28 San Francisco Pub. Util. Comm., Calif. (2 iss.) $610,110 All Sold 582,895 2/28 Georgia...

Reoffering Yields.
March 1, 2006... NRO - Not Reoffered; S.B. - Sealed Bid; SNA - Sold, Not Available Offer Amount Date ($Mil) NEW OFFERINGS 1 Year 5 10 15 20 25 30 2/28 5.3 Marshfield, Wis. (Aa3) 3.30 3.45 3.70............ RECENT OFFERINGS Aaa -- AAA...

Municipal Bond Prices.
March 1, 2006... These 40 Bonds are evaluated and priced daily by Standard & Poor's Securities Evaluations Inc. All figures are rounded to the nearest eighth when reported in this table. "Change in Bid" is rounded after calculation. Dollar Change...

Municipal Bond Index.
March 1, 2006... Current Day Previous Day Week Ago Month Ago Year Ago The Bond Buyer Municipal Bond Index 115-13 115-05 115-03 113-24 113-26 Tuesday, February 28, 2006 Maturity Par Call Dollar Conversion Converted Date Date Price Factor Price ...

Some See Road Privitization as Transportation Cost Solution.
March 1, 2006... ATLANTA -- Transportation funding continues to be one of the biggest expenditures faced by state governments, but there are several options they should consider to develop roads, including privatizing toll roads. That was one of the ideas...

Atlanta Officials Tout Bond-Fueled Success of Tax Allocation Districts.
March 1, 2006... ATLANTA -- Atlanta has created six tax allocation districts since 1998, and officials spoke yesterday of how instrumental they have been in fostering economic development throughout the city. Details were shared at The Bond Buyer's...

Georgia Treasurer Calls Pension Issues 'The Elephant in the Room'.
March 1, 2006... ATLANTA -- In what can best be summed up as the calm before the storm, Georgia Treasurer Dan Ebersole said that while states are enjoying a more stable financial environment, looming pension obligations will be the next challenge they will have...

Thursday.
March 2, 2006... Regions ERIE COUNTY, N.Y., IS PLANNING its first competitive bond sale since 1991, and is looking for a financial adviser to help it navigate the unfamiliar waters, a county finance official said yesterday. 3 THE BOARD OF...

Disclosures On OPEB Needed: Securities Law May Trump GASB Dates.
March 2, 2006... WASHINGTON -- Municipal bond issuers may have to disclose information about their non-pension and other post-employment benefits in official statements for bond issues under federal securities laws before they are required to report them in...

Justices Seem Inclined to Allow Ohio Tax Credit.
March 2, 2006... WASHINGTON -- Several Supreme Court justices yesterday appeared to be leaning toward upholding an Ohio tax credit designed to encourage economic development that a federal appeals court previously struck down as an unconstitutional barrier to...

Mississippi Agency to Issue GO Zone Bonds.
March 2, 2006... ATLANTA -- The Mississippi Home Corp. today will look to issue about $80 million of bonds - including the first bonds to be sold under the Gulf Opportunity Zone Act - as the state continues to take steps to rebuild following Hurricane Katrina....

Ill. Health Deals Stalled By Charity Care Proposal: Bond Insurers Hesitate Over Legislation.
March 2, 2006... CHICAGO -- At least two Illinois hospital deals are stalled with the borrowers unable to secure insurance due to the fiscal threat posed by pending state legislation that would require a dramatic increase in charity care spending by hospitals....

New Issues Strong; Secondary Slightly Easier.
March 2, 2006... The municipal bond market finished flat to easier yesterday, but proved relatively immune to technically driven losses in Treasuries as competitive new-issue offerings continued to attract strong bids. For the second day in a row,...

In Brief: Personal Income, Spending Increased in January.
March 2, 2006... WASHINGTON -- Americans continued to spend more than they earned in January, as personal income rose 0.7% and personal consumption increased 0.9%, the Commerce Department reported yesterday. Personal income rose $75.2 billion to about...

In Brief: ISM Index Posts Gain To 56.7 in February.
March 2, 2006... The overall economy expanded for the 52nd straight month in January, while the manufacturing sector expanded for the 33rd time in as many months, the Institute for Supply Management reported yesterday. According to the ISM's monthly report...

In Brief: Construction Spending Up to $1.163 Trillion.
March 2, 2006... WASHINGTON -- Spending on construction projects grew by a sluggish 0.2% in January, much slower than expectations, though private and public construction still rose to all-time records, according to Commerce Department figures released...

In Brief: Cash Management Bills Draw 4.445% High Rate.
March 2, 2006... The Treasury Department yesterday sold $25 billion 12-day cash management bills, dated March 3, due March 15 at a 4.445% high tender rate. The bid to cover ratio was 2.57. The coupon equivalent was 4.513%. The price was 99.851833. The low...

Chicago Readies Mid- to Late-Month Sale of $650M in Debt.
March 2, 2006... CHICAGO -- Chicago is planning a sale of up to $650 million of new-money and refunding general obligation bonds later this month in a deal that will raise $350 million for the city's annual capital spending plans. The City Council...

Erie County, N.Y., Seeks FA for Return to the Competitive Market.
March 2, 2006... Erie County, N.Y., is planning its first competitive bond sale since 1991, and is looking for a financial adviser to help it navigate the unfamiliar waters, a county finance official said yesterday. Deputy comptroller Gregory Gach said the...

EDWIN BRYAN HORNER JR.
March 2, 2006... Edwin Bryan Horner Jr., a bond trader from Lynchburg, Va., known widely for his annually compiled Handbook for Virginia Municipal Bonds, died Feb. 12 at the age of 79. The cause of death was cancer, according to his son, Edwin B. Horner 3d. ...

Colorado Toll Agency Orders Revenue Study.
March 2, 2006... DALLAS -- The board of directors of the Northwest Parkway Public Highway Authority in Colorado voted Tuesday to commission a study that they hope will give them information they need to bring a revamped refunding of toll revenue debt to market...

Schwarzenegger Wants $3B More in GOs for Levee Upgrade.
March 2, 2006... SAN FRANCISCO -- California Gov. Arnold Schwarzenegger is upping the ante on his bond issuance proposal to upgrade the state's flood-control levees. The Republican governor, who is pursuing a major infrastructure plan that includes $68...

Public Power: APPA Urges IRS to Ease Limits on Debt for Gas Field Purchases.
March 2, 2006... The American Public Power Association yesterday unanimously approved a series of policy initiatives, including one urging the Internal Revenue Service to relax existing regulations that make it difficult for public power utilities to issue...

Connecticut Seeking New Debt Manager as Boone Steps Down.
March 2, 2006... Connecticut's longtime debt manager and assistant treasurer, Catherine Boone, is retiring. Boone -- who said she is in semi-retirement as of yesterday, despite being in the office -- will continue to work in her position "on a less than...

DASNY Gives Nod to $167.3 Million, Including Library, Nursing Home Deals.
March 2, 2006... The Dormitory Authority of the State of New York yesterday approved the issuance of $167.3 million of tax-exempt bonds at its monthly board meeting. None of the bond sales had been scheduled as of yesterday. Board members okayed a...

Landing Fee Hike Helps Cement Love Field's Stable Baa2.
March 2, 2006... DALLAS -- The first increase in landing fees at Dallas' Love Field since 1987 will provide sufficient revenues for debt service requirements on revenue bonds issued in 2001 for the first time since the debt was sold, Moody's Investor's Service...

People: Toppers, Club for Young Muni Professionals, Returns in N.Y.C.
March 2, 2006... For this first time in seven years, the Toppers club will be in session. The term "Toppers" may draw blank stares from more recent arrivals to the world of municipal bonds, but for many decades, Toppers was the first and last name in...

Lehman Hires Morgan Stanley's Whalen to Revive Health Care Group.
March 2, 2006... Lehman Brothers yesterday announced that Thomas D. Whalen will join the firm's public finance department on April 27 to run its health care practice. For the past two years, Whalen had been co-head of the public finance health care group...

Competitive Bond Offerings.
March 2, 2006... Letter F next to the issuer's name signifies the Official Notice of Sale is available on the internet! Go to www.bondbuyer.com ISSUER ST DESCRIPTION AMOUNT ($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING...

Competitive Note Offerings.
March 2, 2006... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT($000s) TIME OF SALE FINANCIAL ADVISER LEGAL OPINION MATURING INSURER MDY'S S&P FITCH BANK-QUAL....

Negotiated Bond Offerings.
March 2, 2006... Tentative dates for negotiated sales of $1 million or more. ISSUER ST DESCRIPTION AMOUNT ($000s) LEAD MANAGER FINANCIAL ADVISER INSURER MDY'S S&P FITCH FIRST APPEARED Week Of February 27 Alaska Hsg Fin...

Results of Negotiated Sales.
March 2, 2006... ALABAMA Baptist Health Care Authority Mar 1, 2006 $75,170,000 Revenue Bonds (Baptist Health), Series 2006-D Bonds (2016-18(5.00), and 2021(5.00); Priced to Par Call) (book entry) Dated Mar 16, 2006. Due Nov 15, 2008 to...

Results of Competitive Sales.
March 2, 2006... ARKANSAS Corning School District No. 8 of Clay County Mar 1, 2006 $235,000 Construction Bonds (bank qualified) (book entry). Dated Mar 1, 2006. Due Feb 1, 2007 to 2015. Callable Feb 1, 2011 at par. Winning bid:...

Election Results.
March 2, 2006... APPROVED Tuesday, Feb 28, 2006 IOWA SE Polk Comm SD--$60,000,000 Construct new high/elementary school and other improvements IDAHO Vallivue SD #139--$28,400,000 Construction MICHIGAN ...

Mansfield, Tex., Schools to Ask for Record Bond Authorization at May Election.
March 2, 2006... DALLAS -- Officials at the Mansfield Independent School District on Tuesday night voted to place a $241.5 million general obligation bond question on the May 13 ballot, an authorization that would mark the largest bond package in the district's...

Concerns About Interest Rates Lead Regional Issuers to Swaps.
March 2, 2006... ATLANTA -- Amid concerns about rising interest rates, many issuers planning to sell debt in the next few years are negotiating swaps to lock in rates, a financial adviser said at The Bond Buyer's Southeast Public Finance Conference here late...