Bonds

How much the federal government can contribute to rebuilding the originally bond-financed Francis Scott Key Bridge is now a concern for the House Committee on Transportation and Infrastructure.  “Hours after the collapse, President Biden announced his intention for the federal government to pay for the entire cost of reconstructing the Key Bridge,” said Committee Chair

Local leaders are already looking toward reauthorization of federal infrastructure funds as the Biden administration’s infrastructure law nears its halfway point with a focus on preserving the law’s substantial direct funding to cities, counties and regional governments as well as strengthening assistance to smaller entities that have faced challenges snagging some of the grant funding.

John Sheldon, a veteran broker-dealer, was appointed deputy treasurer of public finance by California Treasurer Fiona Ma. Ma announced Tuesday Sheldon had been named to replace Juan Fernandez, who retired in late February. Sheldon, who has more than 30 years of experience, was sworn in on Tuesday. “This position requires an experienced financial practitioner with

Brightline West is providing a road map for rail projects looking for federal funding as their planned route from Los Angeles to Las Vegas includes union labor, train sets built in the U.S. and teaming up with Uncle Sam to get the financing done. “Governments have a superpower as it relates to expediting these projects,”

Houston Mayor John Whitmire proposed a fiscal 2025 budget Tuesday that uses remaining federal pandemic funding to fill a $160 million structural gap and accommodate higher spending, while he puts “everything on the table” to come up with a recurring solution heading into fiscal 2026. Whitmire, who took office in January, said the $6.7 billion

The National Football League’s Cleveland Browns recently met with state legislators in Ohio to discuss plans including a new $2.4 billion domed stadium in Brook Park — about 14 miles southwest of Cleveland — for which the team wants public funding. “We know that there are two proposals being floated, but they certainly have not

Enjoy complimentary access to top ideas and insights — selected by our editors. As some state and local governments and their agencies look to redeem or refund their Build America Bonds (BABs), some questions have come up regarding the legality of doing so, especially as current interest rates may likely lead to an increase in

Municipals were little changed in secondary trading Tuesday as a large new-issue calendar took focus in the primary, led by a $1.5 billion retail order from the New York City Transitional Finance Authority. U.S. Treasuries were firmer across the curve and equities were up near the close. The two-year muni-to-Treasury ratio Tuesday was at 64%,

The Turnpike Authority of Kentucky approved the sale of $128 million of revenue bonds, with the proceeds to be used to refund the authority’s Series 2010B Build America Bonds. TAK Treasurer Steve Starkweather said he expects the authority to price the bonds June 6 with an all-in true interest cost of 3.216%. They are to

Paul Creedon, Citi’s former co-head of municipal banking and public finance, has joined Janney Montgomery Scott as head of national infrastructure to help expand the firm’s municipal and public finance team. Creedon has more than three decades of experience, “successfully directing business strategy for top-ranked public finance banking teams and serving the financing needs of

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 essential resource for insights into everything municipal finance. I’m Mike Scarchilli, editor in chief of the

With passenger volume expected to keep growing, Phoenix Sky Harbor International Airport is aiming to build its first new terminal in decades, while spending billions of dollars in the interim to address aging infrastructure.  Airport officials told the city council last week the terminal would be built on the site of two previously demolished terminals

Major infrastructure funding packages passed by Congress have significantly narrowed the country’s chronic infrastructure funding gap, but new challenges like extreme weather and the uncertainty of future federal spending levels means the gap could widen again over the next two decades, bringing with it significant drags on the U.S. economy. That is the message from

Despite recent spread-widening and underperformance by the tobacco bond sector due to falling cigarette sales and tobacco usage, it has been supported by solid demand for high-yield paper and strong technicals behind it. Good demand for tobacco bonds accounts for the small spread widening and underperformance, said John Miller, head and chief investment officer of

The Colorado Legislature ended its session last week after passing a fiscal 2025 budget, school funding changes, a property tax cut, and measures aimed at pushing multi-billion-dollar passenger rail projects and a bond-financed purchase of an historic hotel forward.  State officials celebrated a legislative session Senate President Steve Fenberg called “nothing short of transformational” at

Municipals were little changed Monday as the market awaits another heavy new-issue calendar and an upcoming inflation report. U.S. Treasuries were slightly firmer and equities were mixed near the close. While muni yields were steady Monday, yields fell last week, with 10-year notes falling seven basis points to end the week at 2.65%, said Jason

The Puerto Rico Oversight Board and Puerto Rico Fiscal Agency and Financial Advisory Authority said the judge in the Puerto Rico Electric Power Authority bankruptcy case should reject objecting bond parties’ request to reopen the case to hear new evidence. The bond parties objecting to the proposed plan of adjustment said in late April projections

The Municipal Securities Rulemaking Board has asked for Securities and Exchange Commission approval to amend its supervision rule to reflect a remote work environment, a reality dealers have been handling for years now. The MSRB filed for the amendment to its Rule G-27 on supervision, touting it as a step to harmonize MSRB and Financial

On Friday, Mayor Brandon Johnson will headline the city of Chicago’s 2024 investor conference at the Chicago Cultural Center, geared toward an open Q&A format and organized around the narrative that rating agencies have underestimated the city.  “We think Chicago’s ratings are lower than they ought to be, given the size, strength, economic vitality and

California budget watchers, who were bracing for another series of cuts to close the state’s now $44.9 billion deficit, saw those fears realized when the governor released his May budget revisions. The state needs to solve deficits projected for the next two years, not just this year, California Gov. Gavin Newsom said Friday during his

Amid a major federal government push to get rid of lead in water service lines, many municipalities are struggling to keep up.  One city has been ahead of the curve: Pittsburgh, which recently celebrated removing 11,000 lead pipes. The Pennsylvania city has around 6,000 pipes to go, and estimates that it will finish around 2026.