News Results

State Comptroller Susana Mendoza urges the Treasury Department to change its guidelines to allow the state to pay off MLF loans with ARP funds.

Shea, a veteran of the municipal bond business, joins the insurer's board. She will serve on its audit and environmental and social responsibility committee.

In California, where state revenues are pouring in well ahead of projections even before American Rescue Plan funds arrive, lawmakers have spending plans.

A favorable response would enable pre-construction work for the long-awaited $11.6 billion upgrade of New Jersey-New York train tunnels.

While the pressure was on municipal yields, which rose two to four basis points, the Investment Company Institute reported another week of inflows, with $928 million coming into municipal bond mutual funds and another $285 million into ETFs.

The city and state want to use ARP funds to repay debt issued to manage the pandemic but Treasury's initial guidance would derail those plans.

The board also submitted an amended plan of adjustment and disclosure statement for the central government bond deal.

Not only do government entities have new federal funds destined to reach them soon, but citizens also are supporting bond elections in record numbers.

Revenue from the new law would replenish the state's unemployment fund and then cut taxes on commercial real estate rents.

First quarter FDIC data show a $10.75 billion-plus jump in U.S. banks? net purchases of municipal securities, the eighth biggest quarter since 2003, MMA says.

Mayor Mike Duggan and Michigan's governor, Gretchen Whitmer, have raised alarms over the impact of changes proposed by the Detroit Charter Review Commission.

The White House and a bipartisan cadre of lawmakers appear committed to getting infrastructure, including top muni market lobbying goals, achieved.

The underwriter is no longer engaged with the state's plan to build prisons to be owned by private operator CoreCivic Inc.

Gov. J.B. Pritzker is now willing to fully fund a scheduled education funding hike but other contentious issues remain, notably corporate tax breaks.

The settlement of a matter involving G-13 is the first time a firm has been charged with violating that rule since 2003 and left some wondering if FINRA was using enforcement cases to establish compliance standards.

Tighter spreads and richer ratios are likely to continue, particularly as looming tax increases amplify the value of the tax-exemption, but analysts are hesitant to predict how much lower rates can go before investors balk.

In Montana, two school districts and the state government reported that a new state law signed by the governor on May 6 will end the state tax deduction for certain school bonds after 2023 if those bonds are federally taxable.

A disappointing jobs report gives credence to the Federal Reserve?s concern about slack in the labor market.

Guam?s tourism has been hit very hard by COVID-related travel limitations, but the government should be able to get through this period with approved federal aid and the continuation of federal military construction.

Federal coronavirus relief helps the city deal with immediate budget problems, but pensions loom large over the city's post-pandemic fiscal landscape.

SLGS are typically used by issuers of tax-exempt municipal bonds because of yield restrictions and arbitrage rebate requirements under the Internal Revenue Code.

The state has allocated $1.3 billion over three years to repair and replace 163 buildings, General Treasurer Seth Magaziner reported.

?Our net present value savings were $191.5 million or a record-setting 29%," said North Texas Tollway Authority Chief Financial Officer Horatio Porter.

Refinitiv Lipper reported $584 million of inflows, $341 million of which went to high-yield, as investors pull back on reinvesting to pay tax bills with the May 17 tax filing deadline looming.

An increase to $30 billion from $15 billion on the PAB allotment overseen by the Department of Transportation was one suggestion a House panel heard Thursday.

Assured Guaranty (AGO) and National Public Finance Guarantee gave their support to Highways and Transportation Authority and Convention Center District Authority revenue bond deals affecting $4.6 billion, solidifing their support for the central government deal.

The administration of Gov. Gavin Newsom and the state legislature have separate efforts that would result in increased climate risk disclosure.

While the race has drawn few headlines compared with the battle for mayor, a dozen hopefuls are running for the office.

The ratings agency also said it expects cruises will resume at modest levels in the second half of this year.

In her role as senior vice president of credit for municipal and corporate bonds, Urtz is overseeing a redesign of FHN's primary website for fixed-income transactions.

The change to monthly from quarterly revenue reports is a positive, the rating agency said, though the ordinance doesn't extend to expenses or cash flow.

Gov. Pedro Pierluisi said the bill was unconstitutional since it undermined contractual obligations with LUMA.

Pennsylvania's competitive GO deal saw its yields fall further from recent trading while the North Texas Tollway Authority benefited from positive credit news on the transportation sector and repriced 25 basis points lower. ICI reported another round of $2-billion-plus inflows.

Alpha Ledger Technologies, which had already done so in its home state of Washington, helped its first Oregon issuer record a municipal loan on a blockchain platform.

The ratings agency said it action reflects the state?s solid economic recovery from the COVID-19 pandemic.

The state's revised contract with Foxconn (FXCOF) on tax subsidies reflects the dramatic downsizing of the original project unveiled in 2017.

The Biden administration wants to increase IRS funding for enforcement to close the gap between taxes owed and taxes that are paid.

After just one session, the 10-year muni is back below 1% with ICE Data Services and Refinitiv MMD at 0.99% while Bloomberg BVAL is at 0.96% and IHS Markit (INFO) at 0.95%.

Reopening would help a public agency that needs $15 million in state help to cover debt service this year and is asking for additional operating subsidies.

Change is afoot for CPS as its leader Janice Jackson is leaving and legislation stripping Chicago's mayor of full power to appoint CPS board members gains legislative momentum.