New York’s Metropolitan Transportation Authority will need $5 billion to $10 billion more for its five-year plan than expected in July when it released its preliminary $18 billion financial plan, executive director Elliot Sander said at the MTA’s monthly board meeting yesterday. The increase, needed for the period 2009 to 2013, is in part due to higher-than-expected construction cost escalations as well as revised assessments about what the system needs to keep up with growth in the region, MTA spokesman Jeremy Soffin said. The authority will ask for additional state aid from the Legislature when it submits its capital plan in March. “Increased aid will be critical to avoid over-borrowing that characterized the last several years,” Soffin said.
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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.
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"Each party in this deal benefits in some way," said Seema Mohanty, founder of Mohanty Gargiulo.
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The California Supreme Court will hear a case challenging the state's 2013 pension changes, after seemingly settling the issue with a 2020 ruling.
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The "impressive" investor appetite for tax-exempts has been "holding steady all quarter despite expensive valuations, supply surges and periods of low reinvestment demand," said GW&K Investment Management strategists in a report.
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As space becomes an increasingly important frontier for development and competition, spaceports should enjoy the same financial benefits as airports and seaports, say supporters of the federal legislation.
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The governor should have involved the legislature earlier in decision making on how to give the Water and Power Authority money to make a bond payment, lawmakers said.
April 24