A state legislative committee last week decided against endorsing any revenue increases, including a four-cent hike in Iowa’s gasoline tax, to raise more funds for highway projects. The special interim committee, however, said that lawmakers would continue to look at highway funding issues when the Legislature returns to work next month. State transportation officials have warned that Iowa needs an additional $200 million annually to begin addressing $27 billion of unfunded needs over the next 20 years. Gov. Chet Culver said in a letter that he acknowledges the significant needs of the state, but he remains opposed to any increase in the gasoline tax because of current high gas prices at the pump.
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The MSRB is warning investors that the redemption of Build America Bonds under an extraordinary redemption provision could result in losses, especially for those purchased at a premium.
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With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.
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Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.
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Steven Mahr moved to Chicago two years ago, and in March, he moved from Stifel to the city's finance department, where he's now happily tackling tough problems.
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S&P Global Ratings joined Moody's in assigning a negative outlook to its triple-A rating, but a criteria change pushed Fitch's rating of the city up to AAA.
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Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
April 25