Bonds

Austin, Texas, officials are heading to court to seek validation for a controversial issuance of bonds to help fund a multi-billion-dollar light-rail project. The Austin City Council on Thursday authorized the move, as well as amendments to an agreement with the Austin Transit Partnership (ATP), a corporation created by the city and its Capital Metro
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Massachusetts Governor Maura T. Healey’s $56.1 billion budget proposal for fiscal 2025 calls for increased funding to the state’s Commonwealth Transportation Fund that will enable it to borrow an additional $1.1 billion over the next five years. The fiscal 2025 budget proposal, which represents a 2.9% increase over the current year’s spending, would dedicate $250
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Oklahoma’s credit quality is looking up, rating agencies say, with Fitch Ratings joining Moody’s Investors Service and S&P Global Ratings in revising the state’s rating outlook to positive from stable. Fitch, which rates Oklahoma AA, said Friday the revision reflects sustained improvements in expenditure flexibility and overall fiscal management, “particularly its adherence to conservative budgeting
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The Alameda Transportation Authority sold over $216 million in revenue refunding bonds to restructure ACTA’s debt through a combined tender offer and debt restructuring plan. The bond sale allowed ACTA to reshape its profile to avoid projected debt service shortfalls and match anticipated revenue growth. The rail corridor consists of a 20-mile multi-track rail system
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Pennsylvania Gov. Josh Shapiro wants to tap the commonwealth’s surplus revenues for his wide-ranging budget agenda. The Democrat proposed sweeping changes to Pennsylvania’s K-12 and higher education systems and $500 million of borrowing to fund his new economic development plan in his budget address on Tuesday.  The budget proposal was $48.34 billion, an increase of
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A four-day atmospheric river-fueled storm that walloped California caused estimated damages of up to $11 billion and put the state’s aging infrastructure to the test. The preliminary damage estimate of up to $11 billion by AccuWeather accounts for damage to homes, businesses, infrastructure, facilities, roadways and vehicles, as well as over 900,000 reported power outages
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Gilt-edged Washington Suburban Sanitary District, Maryland, is offering $329 million of revenue bonds via a competitive sale Thursday that may help set the tone for triple-A yield curves that have been contending with U.S. Treasury market volatility in recent sessions.   The consolidated public improvement debt is being issued under the supervision of the Washington Suburban Sanitary
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Pennsylvania Gov. Josh Shapiro announced a new economic development plan that he says will guide the priorities when he releases his budget this week. The 10-year program is Pennsylvania’s first economic development plan in nearly two decades and targets areas including site readiness, workforce development and housing and community development. “For too long, Pennsylvania’s neighboring
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Florida lawmakers are asking Congress to expand the use of tax-exempt private activity bonds to include commercial spaceports. “The push for Congress to grant spaceport bonds tax-exempt status has been a conversation for many years,” said a spokesperson for Space Florida, the state’s aerospace finance and development authority, which oversees the development of the Florida’s
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The Oklahoma Senate will not take up an income tax cut during a special legislative session next week as it waits for more information about the state’s financial position. The Republican-controlled chamber will commence and immediately adjourn the session that starts Monday just like it did for an October special session on tax cuts Gov.
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