San Antonio ISD Saves More Than 18% in Refunding
In its first deal with Frost Bank as its financial advisor, San Antonio Independent School District achieved savings of more than 18% on the refunding portion of a $123.7 million issue. The negotiated sale is scheduled to close June 9.
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Oklahoma Gov. Mary Fallin announced an agreement with legislative leaders that narrows the state’s $1.3 billion budget gap while averting what she called a “worst-case scenario.”  more »
A ballot measure injecting $3.5 billion into Arizona's K-12 education passed by a razor thin margin for a result that S&P Global Ratings said could be a short-term positive for state and school district credits, with a much less certain long-term impact.  more »
Arkansas lawmakers ended a special session Monday with approval of a bill to raise $50 million for highways, allowing the state to receive $200 million in federal funds.  more »
The University of Texas System will issue $215 million of triple-A-rated debt that includes some of the $922 million in tuition revenue bonds authorized by the 2015 Texas Legislature.  more »
Mission Regional Medical Center, in the Lower Rio Grande Valley of Texas, suffered a five-notch downgrade to B-minus from Standard & Poor's Global Ratings. The downgrade affects $26.5 million of outstanding debt.  more »
ARLINGTON -- The Texas Rangers could be playing in a new, air-conditioned ballpark in Arlington by Opening Day of the 2021 season, club and city officials said Friday.  more »
The Clay Center City Council approved the construction of the largest steel grain bin in the city Tuesday night and authorized industrial revenue bonds for the bin.  more »
HARPER -- A USD 361 school bond issue that passed -- and a bond issue that failed -- are casting shadows over a new controversy in the school district serving much of Harper County.  more »
With revenues continuing to fall below forecast, Kansas Gov. Sam Brownback reduced spending by $100 million, with cuts to universities, transportation, and Medicaid, among other services.  more »
The Texas Supreme Court’s decision to uphold Texas’ “Byzantine” school funding formula will end three years of litigation but have no immediate impact on state or local school district credits, according to Moody’s Investors Service.  more »
After voter approval of a $70 million bond package, Dickinson ISD is moving forward to build a second junior high school that may open as soon as August 2018.  more »
With the Bartlesville Public School District facing a $1.9 million budget cut for next school year and the uncertainty of future cuts from the state legislature, Board of Education members and district administrators on Monday discussed up to $19 million in bond proposals to help the district through the financial crisis, and to be able to renovate space that are in need.  more »
Days after winning voter approval of $155 million of bonds to keep pace with growth, the Anna Independent School District on the outskirts of Dallas took a two-notch downgrade from Moody's Investors Service. Anna was one of dozens of Texas school districts whose voters approved nearly $5 billion of bonds May 7.  more »

Daniel Berger, Senior Market Strategist at Municipal Market Data, talks about the recent rally in municipal bonds which has brought long-term yields down to record lows. He talks about continuing demand from retail investors in light of the upcoming Summer redemption season and he discusses the allure that the American tax-exempt market has for overseas buyers. He outlines the recent spread compression in quality credits and also looks at some of the market's outliers -- Puerto Rico and Chicago.

Our legislation would preserve money market funds as a source of liquidity and capital for public the infrastructure needs of our citizens.

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