TWDB Closes on $255M for Reservoir, Saving $18M
The Texas Water Development Board' $255 million bond issue for a reservoir on the Lower Colorado River is expected to bring savings of $18 million.
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Texas could face the loss of as much as $1.1 billion per year in franchise tax revenue if a recent court ruling survives an appeal, Comptroller Glenn Hegar warned.  more »
Texas’ El Paso County Hospital District received a two-notch Standard & Poor’s downgrade in the wake of the district’s legal settlement with an affiliated children’s hospital that’s in bankruptcy.  more »
Oklahoma plans to price $115 million of revolving fund revenue bonds to replenish its loan pool for local water utilities.  more »
An Allen, Texas, bond committee has ranked $103 million of projects that could show up on a bond proposal next May.  more »
A $500 million power plant in Brownsville, Texas that would have included public investment has been delayed due to low natural gas prices.  more »
In one of its largest deals in recent years, the Kansas Department of Transportation will issue $400 million of revenue bonds for its “T-Works” highway program.  more »
Five months after a Houston businessman was publicly accused of offering cash to two Lamar CISD candidates prior to last May's elections, in what some saw as a bid to win contracts, the issue still hangs over the suburban district.  more »
When the Colorado General Assembly convenes in January, lawmakers will face a $373 million shortfall that could pose risks for education, healthcare and social services.  more »
Preferences were mixed among Lincoln County commissioners Tuesday on whether to ask voters to approve $25 million in general obligation bonds to renovate the Lincoln County Medical Center in a special election or as part of the November general election.  more »
A $282 million federal transportation loan will finance additional lanes on an eight-mile stretch of U.S. 183 in Austin, U.S. Transportation Secretary Anthony Foxx announced.  more »
Holcomb USD 363 voters rejected a $13 million bond issue that would have financed an activity center that included a gymnasium, improve four schools within the district and build storm shelters, among other things.  more »
The Navajo Nation closed its first-ever bond transaction this week when it sold $52.9 million of investment-grade general obligation bonds in a private placement.  more »
The Internal Revenue Service has sent a final notice to the City of Scottsdale, Ariz., Municipal Property Corp. claiming that some of the $65 million of bonds issued in 2013 to refinance the initial term of a lease for a garage are taxable.  more »

Career Zone


New York State Assemblyman Phillip Goldfeder, D-Queens, examines outer-borough growth and transit needs in New York City, as well as efforts to harden its water-exposed neighborhoods.

The notion of option-adjusted spread (OAS) is the standard analytical tool for taxable fixed income securities. It is also making inroads into the muni market. Unfortunately the usual implementation for munis is flawed, rendering the results virtually meaningless. So it is understandable that many muni professionals shy away from OAS in favor of the archaic ‘yield-to-worst’ approach. Correct implementation would undoubtedly attract converts.

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