Albuquerque officials are continuing talks that could result in a new and long-anticipated arena downtown near the convention center. Garfield Traub Development has proposed a 12,000- to 16,000-seat arena that could be home to two minor league sports teams. Later phases could include a 400-room hotel, a residential area, and restaurant and retail space. No financial details have been revealed, but on its Web site the Dallas-based developer said and investment banker partners RBC Capital Markets and Piper Jaffray & Co. have “proposed an innovative, multi-tiered financing plan that includes a substantial private capital and debt commitment.” Garfield Traub said the plan limits the public support to the city’s current taxing authority and would not require additional legislative or voter approval. An attempt to build a downtown arena in 2005 failed when a development team gave up on a privately financed project.
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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.
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Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
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It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
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Photos from The Bond Buyer's Texas Public Finance conference.
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The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
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"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
April 25