Kansas Prepares Pension Bonds After Brownback Signs Bill
Kansas is seeking underwriters for a pension bond issue after Gov. Sam Brownback signed a bill authorizing $1 billion of bonds for the Kansas Public Employees Retirement System.
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Standard & Poor's upgraded Brownsville to AA from AA-minus, citing the southernmost Texas city's strengthening economy and falling unemployment.  more »
David D. Hart, former Denver Public Schools chief financial officer and senior vice president of D.A. Davidson, has joined Public Financial Management as an advisor, the company said.  more »
Rice University took advantage of low interest rates in the taxable market with $700 million of triple-A taxable bonds, including $100 million for new money.  more »
In the first competitive pricing of charter school bonds in Texas, Kipp Academy in Houston earned savings of nearly 13.5% on a $77 million issue backed by the Texas Permanent School Fund.  more »
The Texas House has approved House Bill 9 by Rep. Dan Flynn, R-Canton, increasing state employees' contributions to the state retirement pension fund by 2%.  more »
A House and Senate conference committee will reconcile differences in their budgets after the Senate approved a $211 billion spending plan that exceeds the House’s version by about $1.6 billion.  more »
With a Standard & Poor's upgrade to AA-plus on its subordinated debt, Phoenix is looking for significant savings with a $391 million refunding of revenue bonds that include taxable and tax-exempt issues.  more »
As Texas lawmakers seek to reverse the state's growing debt, the Texas Public Finance Authority expects to lower the state's interest cost through a $218 million refunding of general obligation and revenue bonds.  more »
The Texas Department of Transportation would no longer be allowed to issue bonds backed by the Texas Mobility Fund under legislation approved by the state House.  more »
The Standard & Poor’s outlook on Lubbock Christian University’s BBB rating has shifted to negative amid falling enrollment and dependence on tuition.  more »
The Texas House of Representatives has passed Rep. John Zerwas's House Bill 100 that allocates $3.1 billion of tuition revenue bonds for colleges and universities across the state. No TRBs have won legislative approval in nearly a decade.  more »
Tax revenue from oil and gas production in Oklahoma has fallen to a 12-year low, according to the latest report from state Treasurer Ken Miller.  more »
Texas sales tax revenues grew for the 60th straight month in March, but the 1.5% increase was the weakest in the past two years.  more »

Although defaults have not yet occurred, it is not too early for holders to take a hard look at the applicable bond documents to evaluate their rights and leverage in the restructurings or refinancings that have begun and which may proliferate in the years ahead.

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