Chip Barnett

The deal, originally planned at $1.5 billion in three maturities, was downsized and restructured and then restructured again into one 10-year bullet maturity.

As anti-Israel protests grow at universities across the United States amid a rising tide of anti-Semitic incidents, state and local governments are buying Israel bonds in a show of financial and moral support.

Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.

"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.

"The rating action reflects our view of MIA's substantial demand, which surpasses pre-pandemic activity, and its leadership in enplanement growth for large hub airports since the fiscal 2019 peak," said S&P's Nora Wittstruck.

Fitch Ratings said the negative outlook on the BB-plus rating reflects Miami Jewish's thin operating profile.

"The upgrade is supported by strengthened debt service coverage ratios due to better than expected recovery from the pandemic," Fitch said.

"Numbers are hard to come by in a comprehensive way, but we do learn the state's budget is targeted at $237 billion," said John Hallacy. "This budget is clearly not a 'caretaker' budget, but one that adds significant spending. The question is how that spending will affect the out-years."

John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.

"We were originally thinking that we would offer five-, seven- and 10-year maturities, with $500 million in each tranche. But we decided today to just offer 5s and 10s — $500 million of five-year bonds and $1 billion of 10-year bonds," said Ben Watkins, Director of Florida's Bond Division.

"We withdrew the rating because we have determined we do not have sufficient information to maintain a forward-looking credit opinion on the city," S&P said.

The city gave no reason for the cancellation of its redemption plans or bond issuance, but reserved the right to call the 2010B BABs for redemption in the future.

Capital outlay investments in the governor's "common ground budget" provide over $1.4 billion in general fund cash and tax-supported debt for projects, including $100 million of bonds for improvements to wastewater treatment plants.

"DASNY's financing, construction and grants management on behalf of science, health and educational not-for-profits [are] the foundation for stronger, inclusive and more sustainable communities across the state of New York," said Robert J. Rodriguez.

Since war broke out on Oct. 7 between Israel and Hamas, over $1.64 billion of Israel bonds have been sold to more than 35 U.S. states, counties, cities and municipalities.

Instead of her original proposal, Miami-Dade County Mayor Levine Cava said she will work toward crafting an even larger bonding plan that will also include money for transit projects.

Peter Shapiro, founder of Swap Financial Group and a former New Jersey legislator and county executive, died at his home in East Orange on March 29 after a long illness. He was 71.

"HB 727, if signed into law, should lower borrowing costs for Kentucky school districts and will serve as a critical tool in dealing with cost overruns and other inflationary pressures," said Compass Municipal Advisors.

Among the items approved by the state Local Government Commission were $750 million of affordable housing bonds, the Turnpike Authority's Thursday sale of $184 million to refund BABs and Wake County's $321 million refunding bonds.

John Hallacy of John Hallacy Consulting and Rich Ciccarone, president emeritus of Merritt Research Services, talk with Chip Barnett about the municipal bond business over the past 40 years. They take a look back at where the industry has been, where it is and where it will be going.