State to hold bond sale for residents

November 16, 2008

Intent on replicating the success of a September marketing pitch to individual investors, the state will hold an exclusive bond sale tomorrow and Tuesday for individuals before making its latest offering available to institutional customers Wednesday. In a first-time move, the state will give Massachusetts residents priority over out-of-state investors, if demand is high enough, the state treasurer's office said. The focus on individuals is designed to drum up interest in the state's bonds at a time when institutional investors are constrained and have less money to invest in municipal bonds. The nearly $553 million general obligation bond offering will refinance existing debt for infrastructure and capital projects, according to Treasurer Timothy P. Cahill's office. More information is available from the state at www.buymassachusettsbonds.com.

A 61-year-old Boston man was arrested and charged with assault and battery with a dangerous weapon after allegedly shooting another man in Mattapan Friday night, police said. Arturo V. Wallen allegedly shot a 26-year-old man outside Happy Liquors II on Blue Hill Avenue about 10:11 p.m. The victim was arguing with a woman when Wallen shot him with a .357-caliber handgun, said Officer Eddy Chrispin, a police spokesman. Wallen and the woman fled, while the victim went into the store to ask for help. The victim was taken to Boston Medical Center, where he is listed in critical condition, police said. Wallen, who turned himself in early yesterday, is to be arraigned tomorrow in Dorchester District Court.

Thousands of low-income Massachusetts residents will soon lose their free legal help. The Massachusetts Legal Assistance Corp., the state's largest funding source for civil legal aid, recently announced it is cutting aid grants by nearly 40 percent as its funding dropped from $22 million last fiscal year to $13.5 million this year. State law requires all lawyers and law firms to establish interest-bearing accounts for client deposits, and pooled interest from those accounts is used to fund civil legal services for low-income residents. As a result of the economic downturn, the agency is expecting a 54 percent decrease in the income it receives. Lonnie Powers, executive director of Massachusetts Legal Assistance, said it is unclear how long legal aid groups will have to deal with cuts in funding. (AP)

The inaugural run of an express bus service from New Hampshire to Boston is being launched tomorrow. Commuters can catch the Boston Express at Exits 2, 4, and 5 off Interstate 93. Boston Express is a public-private partnership between the state and two bus companies - C&J Lines and Concord Coach Lines. The express service from Manchester, Londonderry and Salem will be to Boston's South Station and Logan Airport. (AP)

House Democrats nominated Terie Norelli of Portsmouth almost unanimously yesterday to serve a second term as speaker. Democrat Kris Roberts of Keene challenged Norelli, but only got 18 of the 203 votes cast. Norelli was elected speaker two years ago when Democrats took control of the House for the first time in 84 years. She was the first female Democratic speaker and the second woman to hold the post. Republican Donna Sytek was the other. The Legislature elects officers on Dec. 3. House Democrats outnumber Republicans 224-176. (AP)

Vermonters will pay tribute today to the late poet Hayden Carruth. Carruth, who lived in Johnson for nearly 20 years, wrote more than 30 books during his long career, winning the National Book Award for Poetry for his 1996 book "Scrambled Eggs & Whiskey." In 2002, Governor Howard Dean proclaimed Nov. 12 "Hayden Carruth Day" in Vermont. Carruth died Sept. 29 at age 87 in Munnsville, N.Y. Today at 3 p.m., friends, family, and fellow artists will gather at the Vermont College Fine Arts in Montpelier to celebrate Carruth's life. (AP)