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The potential timing for a water supply emergency, which had been projected for December, was pushed nine months into the future with the help of rainfall.

The BB-plus rated borrowing comes as high-yield supply remains strong in the muni market.

The state's leading Democrats are divided on the benefits of California's proposed billionaire's tax

"It's hard to know whether a decrease in enforcement is a statistical blip or early evidence of [a] meeker, milder FINRA in the current era," said Benjamin Edwards, an associate dean at UNLV law school.

Debt proceeds are earmarked for renovations to the university's football stadium, as well as for student housing, parking and other athletic projects.

While technology has lowered entry minimums, making it more accessible to all types of investors, the client base for SMAs primarily consists of high-net-worth individuals.

Illinois released its 2025 Annual Comprehensive Financial Report last week, completing the report nearly eight months earlier than its 2024 ACFR.

The nearly $18.3 billion fiscal 2027 budget signed by the governor this month provides $1.4 billion in tax cuts over four years.

SWBC's Chris Brigati said he expects munis to continue to outperform Treasuries, unless USTs aggressively sell off.

Market Intelligence analyst Jeff Lipton explains why constrained state budgets should not be mistaken for broad credit deterioration, pointing to rainy-day funds, revenue diversity, low debt burdens and strong debt-service protections as key stabilizers.