Bonds

Housing advocates are pressing the House Committee on Ways and Means to pass long-simmering legislation that includes expanding the use of Private Activity Bonds to support affordable housing efforts.   “We remain hopeful there will be legislation in the lame duck session of Congress to enact these sorely-needed proposals, which would increase the housing credit allocation

California federal and state lawmakers broke ground for a 750-acre project to restore the Salton Sea that received $250 million from the federal Inflation Reduction Act. The Salton Sea is a shallow, landlocked, highly salt lake in Riverside and Imperial counties in southern California near the Mexican border. Funding for a series of projects, including

Florida continues to work to reduce its debt load, offering a tender to holders of $1.4 billion of bonds, nearly 10% of its par outstanding, using its own cash without the sale of refunding bonds. Issuers have turned to tenders since the Tax Cuts and Jobs Act of 2017 eliminated the tax-exempt advanced refunding option.

A Utah judge voided a proposed constitutional amendment on the Nov. 5 statewide ballot that raised concerns about future state funding for K-12 public schools. If passed by voters, Amendment A would have provided more flexibility for Utah’s budget by tapping excess income tax revenue currently constitutionally earmarked mainly for public education. Utah Third District

The Biden administration Tuesday announced the strictest-ever safe drinking water rule that will require almost all cities to replace their toxic lead pipes within the next 10 years. “Folks, what is a government for if it cannot protect the public health?” Biden asked a crowd Tuesday in Milwaukee, where he announced the rule. The  Lead

Marin General Hospital’s outlook was revised to positive from stable by Fitch Ratings, affecting $211 million in debt. The positive outlook reflects Fitch’s opinion the Greenbrae, California-based facility should continue to make additional progress over the next 12 months-24 months in improving efficiency and other operational measures, according to Monday’s ratings report. Those improvements are

The District of Columbia is saddled with slowed jobs and economic growth, but has still managed to score a boost in five credit ratings from Moody’s Ratings. “Moody’s upgrades are a testament to the district’s solid financial management and strong economic fundamentals,” said Chief Financial Officer Glen Lee.  “We are extremely pleased by this recognition

Moody’s upgraded Pennsylvania’s issuer default rating to Aa2 from Aa3 Monday, ahead of the commonwealth’s plans to sell at least $1.4 billion of general obligation bonds.  The Keystone State is now at its highest rating since 2013, before the state’s finances were mired by partisan conflict between and among the two houses of the legislature

Texas Capital is expanding its public finance team with the addition of five industry professionals, the Dallas-based financial services firm announced Friday. The public finance business was launched in May with the hiring of Steve Genyk, a former public finance head at UBS, as a managing director. The move came as the ranks of underwriters

Moody’s Ratings upgraded $3.02 billion in Miami-Dade County transit bonds to Aa2 from A1 and convention development tax bonds to Aa3 from A2 on Thursday. The broad nature of the revenue pledge and strong 2.4 times maximum annual debt service coverage supported the upgrade, the agency said. The revenues have had limited volatility and a

The California Infrastructure and Economic Development Bank board of directors approved $26 million in loan financing for the city of Santa Cruz for two wastewater improvement system projects, IBank officials said Thursday. The funding will help the city replace and upgrade decades-old equipment with the aim of preventing costly repairs, protecting pipelines from corrosion, improving

There were many “trailblazers” at the Muni Pride LGBTQ+ History Month Social Mixer, Connecticut Treasurer Erick Russell said in his speech at the event.  “Even if you aren’t a first, say, for your profession, or a first in your organization, the worlds of finance and law and government have not always been the best when

The California School Boards Association is suing the state over a Proposition 98 work-around included as a trailer bill in the budget. Proposition 98, often referenced throughout California’s state budget process, constitutionally mandates the state to allocate a certain percentage of the state budget to education each year. The 2024 Education Omnibus Budget Trailer Bill,

Massachusetts plans to sell $490.7 million of municipal bonds to help fund improvements for its commuter rail and other transportation projects throughout the state. The bonds are scheduled to price Wednesday after a retail order period Tuesday, according to an online investor presentation. According to preliminary bond documents, the deal consists of three series: a

On Monday President Joe Biden addressed the nation about the federal response to Hurricane Helene and signaled he would ask Congress for supplemental disaster funding.  “That’s my expectation,” he said.  He also hinted at calling lawmakers back into session to help deal with the emergency. “That is something I may have to request. No decisions

Warren “Bo” Daniels, managing director and head of public finance for Loop Capital, will take over as chair of the Municipal Securities Rulemaking Board Oct. 1, bringing a three decade career to an organization set to take major steps forward in the coming year. Jennie Bennett, associate vice president for finance at the University of

The Louisiana Bond Commission approved the sale of $620 million in aviation revenue bonds and $220 million in sales tax bonds and modified conditions for up to $1 billion in gas and fuels tax bonds it previously authorized. The commission consented to the sale of up to $575 million in general airport revenue refunding bonds

Georgia’s weakening economy and the long-run impact of recent tax cuts are concerns, credit analysts say, albeit ones the state’s triple-A bond ratings may ride out successfully. The state’s unemployment rate has gone up for four consecutive months, according to the U.S. Bureau of Labor Statistics. The GOP-dominated state government has been cutting the top

Almost every state has cut taxes over the past few years, but as the economy returns to normal, budget shortfalls are starting to emerge.  “The past few years have been dominated by tax cuts,” said Richard Auxier,  a principal policy associate in the Urban-Brookings Tax Policy Center. “From 2021 to 2023, 48 out of 50 states

A Missouri government is the latest to offer government support — funded through municipal bonds —to revive a moribund mall.  But developer River City Centre’s plan for West Park Mall in Cape Girardeau, a city of 40,500 along Interstate 55 about midway between St. Louis and Memphis, breaks with the current trend of converting malls