Hawaii $150M Sale First for GEMS Program
Hawaii plans to price $150 million in green bonds the week of Nov. 3 in its first foray into the bond market with its new Green Energy Market Securitization Program.
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While the judge's ruling in Stockton, Calif.'s bankruptcy case did not provide a precedent for dealing with pension obligations in Chapter 9, it did provide a "roadmap" for other municipalities that may want to cut pensions, one expert said.  more »
If approved by voters, two initiatives in next week's California election could have an impact on the state budget, water credits and school districts, Fitch Ratings says.  more »
The judge in Stockton's bankruptcy case has approved the city's plan to exit bankruptcy, without impairing the California Public Employees Retirement System.  more »
In next week's general election, California school districts are asking voters to approve 113 separate bond measures, worth a total of $11.6 billion.  more »
The Orange County Transportation Authority, Calif. issued a request for qualifications Oct. 27 seeking firms interested in working on the $900 million expansion of a stretch of Interstate 405.  more »
The State Public Works Board of California is planning to sell $230 million of lease revenue bonds in a refunding deal next week.  more »
An ruling from a Superior Court judge during a hearing scheduled for Oct. 31 could bring the end to a lawsuit brought by Ontario, California seeking the return of its local airport from the control of Los Angeles.  more »
Moody's Investors Service affirmed an Aa1 rating with a stable outlook on $382 million in outstanding Idaho Bond Bank Authority revenue bonds ahead of plans to price $12.8 million on Nov. 6.  more »
California ranked 48th in the country for its business tax climate in an index released Oct. 28 by the nonpartisan Tax Foundation in which 50 is the worst ranking.  more »
California's Controller, John Chiang, a Democrat will face off against Republican Greg Conlon, a businessman and former California Public Utilities Commission chair, in the race for treasurer to replace the retiring Bill Lockyer.  more »
San Bernardino's pension obligation bond creditors urged the judge in the city's bankruptcy case, now in its third year, to set a March 1 deadline for a plan of adjustment.  more »
Falling oil prices add fiscal pressure to five of the nation's top energy-producing states, according to Moody's Investors Service.  more »
At least two issuers recently redeemed or said they are planning to redeem bonds issued to finance detention facilities because of private use. One redemption was required under a settlement between the issuer and the Internal Revenue Service and the other was triggered by provisions in the offering document.  more »

Americans are suffering the consequences of Congress, governors and legislators across the U.S. pushing the burden of today's costs onto the backs of tomorrow's taxpayers by repeatedly putting off infrastructure repairs and new construction.

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