East Baton Rouge Parish voters may be asked to approve a tax increase for a multimillion-dollar bond issue at next November’s general election. Parish Mayor-President Kip Holden said he may ask voters for a new property or sales tax, or possibly a combination of the two, to support the parish’s first infrastructure bond issue since 1975.Possible projects to be financed with bond proceeds could include $180 million of drainage efforts, $85 million for a new police headquarters facility, $55 million for an expansion of the parish correctional facility, and $45 million to expand the Baton Rouge convention center.The proposed bond issue could be on the ballot at next year’s Nov. 4 general election, which is also the runoff date for the mayoral and council races.East Baton Rouge voters approved a 0.5% sales tax in 2004 to finance the widening of 35 roads in the parish.
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The current lateral recruiting marketplace for public finance attorney talent is "highly competitive," according to Nixon Peabody's Julie Seymour.
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The weakness in fixed-income markets comes after stocks and bonds saw strength Monday following President Donald Trump's announcement of a five-day pause on strikes on Iranian power plants amid talks between the two countries.
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The AA-minus-rated bonds come to market as the hospital sector continues to navigate through rising expenses and other challenges.
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"We are in interesting times as the market must now balance these robust technicals against a backdrop of geopolitical tension in the Middle East and the nomination of Kevin Warsh, whose hawkish reputation is already being weighed by participants," said Jason Wong, vice president of municipals at AmeriVet Securities.
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Otero County's March 13 emergency meeting to avoid a bond default did not comply with the Open Meetings Act, the state's Justice Department determined.
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"This is the largest flood we have had in 20 years," said Hawaii Gov. Josh Green.
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