Bonds

Denver voters will decide whether to increase the sales tax rate to raise an estimated $70 million annually for Denver Health, Colorado’s sole safety net healthcare provider.  The Denver City Council on Monday approved putting a 0.34% sales tax increase on the Nov. 5 ballot to aid the health system, which has been hit with

Enjoy complimentary access to top ideas and insights — selected by our editors. Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Michael Scarchilli (00:05): Hi everyone, and welcome to the Bond Buyer podcast, your go-to source for

Favorable market conditions, a general acceptance of rates staying higher for longer and growing uncertainty ahead of the November election have led state and local government issuers to bring more debt than anticipated and in much larger deals to market so far in 2024, a welcomed trend after two paltry years of issuance. Total volume

As Congress sharpens its pencils for a bill-writing session next year, advocates for state bond banks are hoping for an opportunity to advance the “humble and highly effective” financing tools. The idea is decades old, and flush federal infrastructure funds continue to flow. But supporters like Michael Gaughan, executive director of the Vermont Bond Bank,

Kansas will greatly expand its sales and tax revenue bond program in an effort to entice the NFL’s Kansas City Chiefs and the Kansas City Royals of Major League Baseball to move across the border from Missouri, under legislation Gov. Laura Kelly signed into law on Friday. During a special legislative session just three days

Municipals were steady Monday ahead of a surge in supply, as U.S. Treasury yields fell slightly out long and equities were mixed near the close. The two-year muni-to-Treasury ratio Monday was at 64%, the three-year at 66%, the five-year at 67%, the 10-year at 66% and the 30-year at 84%, according to Refinitiv Municipal Market

The U.S. Supreme Court on Monday agreed to take up an environmental challenge to a proposed bond-financed crude oil-transporting railway in Utah. The Seven County Infrastructure Coalition, a Utah public entity that is spearheading the Uinta Basin Railway project, filed a petition in March asking the high court to review a portion of an August

California Gov. Gavin Newsom and lawmakers reached a budget agreement Saturday they say will close multi-year deficits by cutting $16 billion and declaring a statewide fiscal emergency to use reserves. The deal maintains the multi-year fiscal structure proposed in Newsom’s May budget revision to balance the budget in both 2024-25 and 2025-26, based on current

Muni lobbyists expect longtime ally Rep. Richard Neal to return to the chairmanship of the House Ways and Means Committee if Democrats reclaim a House majority in the coming elections, while a Republican victory would likely keep Chairman Jason Smith in power.   “I think Chairman Smith remains popular with his rank-and-file membership, so I fully

Software solutions firm Investortools and technology-driven broker-dealer Millennium Advisors have partnered to streamline the usual muni investment managers’ manually intensive workflow, the firms said. Millennium will provide clients with real-time pricing and trade execution capabilities by connecting directly to the Investortools Dealer Network, or IDN, according to a press release. Millennium will be a “fully

The P3 centerpiece of plans to revitalize New York’s John F. Kennedy International Airport was very well received last week in the municipal bond market. The tax-exempt deal for the New Terminal One project was upsized by $1 billion to $2.5 billion when the deal was priced Tuesday through the New York Transportation Development Corp.

Municipal investors can expect more than $12 billion of bonds and notes in the week of June 24 as issuers forge ahead with primary offerings amid a steadier market and a higher-for-longer mindset settles in. Recent market moves have led munis to outperform other fixed-income asset classes and position tax-exempt returns to close out June

The election, the national debt, and the key legislative accomplishment of the Trump administration has lawmakers and lobbyists taking stock of their positions and reassessing which hills to die on.  “If Congress must tackle the expiration of Tax Cuts and Jobs Act provisions through bipartisan compromise, the process will likely move slower and allow more

The California Supreme Court removed a sweeping anti-tax measure from the November ballot that the state’s Democrats claimed would have been catastrophic for local government budgets. The high court found the measure to be a far-reaching revision of the state constitution and “because those changes would substantially alter our basic plan of government, the proposal

Pressure is beginning to mount for the Federal Emergency Management Agency to expand its role in responding to major weather events and to declare the effects of smoke and extreme heat a major disaster on local communities. That comes in the form of a new petition filed by the Center for Biological Diversity, the Arizona

They’re calling next year the Super Bowl of federal tax policy, and everything, including the municipal market’s prized tax exemption, will be in the game. Congress is gearing up for a potentially major tax overhaul post-election as provisions in the 2017 Tax Cuts and Jobs Act, the largest tax overhaul since 1986, are set to

Hospitals in California may get the extra time some say they need to meet stringent earthquake-safety requirements. As it stands now, hospitals will be forced to close if they haven’t completed the required work by a 2030 deadline under a state law originally crafted following the 1994 Northridge earthquake. “Almost two-thirds of the hospitals in

Houghton University, a liberal arts school in Western New York established in 1883, saw its rating downgraded into junk status by S&P Global Ratings. The rating agency cut the school’s tax-exempt bonds one notch to BB-plus from BBB-minus, citing its track record of deficits plus a large operating shortfall expected in fiscal 2024.  “We believe

The secondary market showed lighter trading and steady yields Thursday as the last deals of size priced and muni mutual funds saw small inflows. U.S. Treasuries were slightly weaker and equities were mixed near the close. The day’s moves showed muni-to-UST ratios holding mostly steady. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year

The Accelerating Deployment of Versatile, Advanced Nuclear for Clean Energy Act, which is expected to spur nuclear power production passed in the U.S. Senate and is heading towards President Biden’s desk for signing.  “This bipartisan piece of legislation will encourage more innovation and investment in nuclear technologies right here on our shores,” said Sen. Shelley

Utah lawmakers on Wednesday amended a law aimed at keeping the state’s largest coal-fired power plant in operation to ease concerns raised by the Intermountain Power Agency (IPA).   House Bill 3004, which passed both chambers during a special session, makes changes to legislation signed into law by Gov. Spencer Cox in March that requires IPA