Bonds

Two big Illinois issuers have scheduled refunding deals with planned pricings on Thursday, with the Illinois State Toll Highway Authority to issue $900 million of series 2024A senior revenue refunding bonds and Chicago’s Midway Airport to sell $393 million of series 2023C senior revenue refunding bonds.   Rising interest rates had made refundings thin on the

America’s local communities are woefully ill-equipped to deal with the steady onslaught of disasters happening across the country and Congressional leaders need to act to lower the threshold and permanently reauthorize the Community Development Block Grants – Disaster Relief program. That was one key message delivered during the Senate Committee on Transportation, Housing and Urban

Oregon lawmakers were forced to approve $19 million in emergency funding last week to bolster its highway maintenance as winter approaches. Oregon Department of Transportation officials had begun implementing significant service reductions within maintenance and operations amid shortfalls caused by a decline in gas tax revenues, record high inflation and limitations on budgeted agency funds.

As the Biden Administration attempts to make affordable housing a key issue, some experts and lawmakers would prefer less federal intervention.  House Republicans would like to see changes in zoning, interest rates, and a reduced role for the Federal Housing Finance Agency. “As we confront these affordability challenges, what seems to get left out of

From research into AI to collaborative events encouraging the development of automation, Federal Housing Finance Agency Associate Director Anne Marie Pippin has been involved in several projects that given her broad insight into what the next wave of technology development in the industry may look like. In this discussion at NMN’s Digital Mortgage Conference, she

A potential overhaul of Colorado’s property tax system is the target of a bill Gov. Jared Polis signed into law Tuesday as he took action on remaining legislation lawmakers passed during a special session to provide short-term property tax relief.  House Bill 1003 creates a commission tasked with identifying, considering, and evaluating options “for a

It took about two minutes into a House transportation subcommittee hearing Wednesday before the California high-speed rail project was singled out for criticism. Rep. Troy Nehls, R-Texas, chair of the Railroads, Pipelines and Hazardous Materials Subcommittee, opened the hearing on intercity rail by emphasizing the importance of balancing federal policies and spending with realistic consumer

Declining enrollment and fiscal constraints were cited by Moody’s Investors Service in a one-notch downgrade of Issaquah School District 411 in King County, Washington. The school district’s outlook was also revised to stable from negative, according to Monday’s ratings report. The district has roughly $670 million of general obligation unlimited tax (GOULT) debt. The Moody’s

The Utah Associated Municipal Power Systems has dropped plans to build a first-of-its-kind nuclear plant amid dwindling support from cities on the hook to pay for the electricity. UAMPS, comprised of 50 municipally owned power systems across six Western states, was working with Oregon-based NuScale Power, LLC, to launch the nation’s first small modular reactor

The Arizona Industrial Development Authority as conduit issuer is set to offer a $230 million social bond next week to support a variety of high-performing public charter schools across the United States. Siebert Williams Shank as senior manager is slated to price the Series 2023A senior National Charter School revolving loan fund social revenue bonds

A new Biden administration rule requiring states to reduce transportation-related carbon emissions, which could affect infrastructure spending, faces opposition from states and Congressional Republicans. The rule, finalized last Wednesday, requires state departments of transportation and metropolitan planning organizations to measure greenhouse gas emissions from vehicles and implement targets to reduce the emissions. It’s part of

Wisconsin has released a request for qualifications from firms willing to serve as bond underwriters in either a senior manager or co-manager capacity. The state Capital Finance Office will set up pools of qualified investment banking firms, which it will use to designate underwriting syndicates effective through Dec. 31, 2026. Clarifications are due by noon

Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription below: Caitlin Devitt (00:04):Hi and welcome to another Bond Buyer podcast. I’m Caitlin Devitt, Infrastructure Reporter for The Bond Buyer. Joining me today, my guest is Karol Denniston, an attorney with Squire Patton Boggs and the firm’s global projects partner, where

Illinois’ rainy-day fund crossed the $2 billion threshold for the first time, following an $11.5 million deposit, the state comptroller’s office announced Monday. The fund has grown in size in recent years and now, at $2.005 billion, has enough money to run the sixth largest state for about 15 days compared to 2017 when it

Florida’s labor force grew by 0.2-percentage points in October while the state’s private-sector employment increased 0.3% and the unemployment rate remained steady, FloridaCommerce reported. “Florida’s unemployment rate remains at a low 2.8% and we continue to see job growth month after month, bucking national trends,” Florida Gov. Ron DeSantis posted Friday on X, formerly Twitter.

SK Battery America, a subsidiary of South Korean firm SK On, one of the world’s largest battery makers, is scaling back production on several fronts in response to a changing market for the vehicles. As an EV market turbocharged by federal incentives and high-set expectations cools off and major producers weigh cost-saving measures, SK said

It has been a good year for Jaime Alvarez. The 45-year-old was named Oregon’s director of debt management in October, after serving as deputy director/senior debt program manager for just under two years. A few weeks after his promotion, he found out the state’s March $989 million general obligation bond sale was named Far West

As the Infrastructure Investment and Jobs Act nears its second anniversary, the Biden administration is still striving to close the gap between awarding transportation grants and actually getting the cash to the states and cities that have won the money. Shortening that timeline remains a top priority for the administration, Federal Highway Administration CFO Brian

Speaker of the House Mike Johnson may have secured a short-term win in passing a “laddered” continuing resolution to keep parts of the government funded until Jan. 19 and Feb. 2, but the measure will likely create many more legislative issues and earmark the early months of 2024 for more dysfunction in the Republican-controlled House.

Georgia Gov. Brian Kemp has extended the suspension of his state’s gasoline tax for another month amid sustained high fuel costs. Kemp cited “ongoing economic hardships caused by rampant inflation” Wednesday when he signed an executive order foregoing Georgia’s 31.2 cents-per-gallon tax on gas and 35 cents-per-gallon tax on diesel for another month through Nov.