Infrastructure News from Bond Buyer

Public finance professionals need to contemplate uncertainty as they work with municipal issuers to help them plan and meet their needs.

Mayor Karen Bass introduced a multi-year comprehensive plan, saying it is a first for a city that for too long had a fragmented approach to infrastructure.

The Trump administration also proposed deep cuts to the state revolving funds in its 2026 budget, which Congress rejected.

The department has hit its $30 billion limit on transportation private activity bonds and there's a large pipeline of public-private partnerships across the country.

"It became clear our residence halls were a constraint and not an asset for our university," WKU president Timothy Caboni said.

The administration's effort to revitalize the maritime industry includes opportunities for public-private partnerships.

Fitch Ratings on Monday echoed a prior move by Moody's Ratings to revise the state's outlook to negative.

From Jan. 1, 2020 through mid April of this year, borrowers using conduit issuers accounted 87% of payment defaults by number in the muni market, Municipal Market Analytics' Matt Fabian said.

The city council of Kansas City approved an ordinance laying the groundwork for a $1.9 billion stadium for the Kansas City Royals.

Market Intelligence analyst Jeff Lipton argues that state bond bank debt remains one of the muni market's most conservative, well-secured allocations — and makes the case for expanding bond bank models to broaden infrastructure access for smaller and underserved local borrowers and for addressing growing funding needs brought about by shifting federal priorities.

Space Florida would own the assets and lease them to Project Jaguar, Space Florida's Ron Lau said.

As Congress crafts the next surface reauthorization bill, states want to retain control over the bulk of the formula highway funds.

Wells Fargo's Julie Barger called the investors a "who's who of buyers in the muni market" including mutual funds, ETFs, SMAs and insurance companies.

"We need private capital," the transportation secretary said.

The California Municipal Finance Authority will issue $742 million in tax-exempt debt for the San Francisco Municipal Transportation Agency's first P3.

President Trump's budget proposal for fiscal year 2027 includes $1.5 trillion for the military, while cutting FEMA's budget, privatizing the TSA, and increasing transportation funding.

Capital needs and state actions were on the minds of two top local government officials at The Bond Buyer's Public Finance Conference in Austin.

The bill creates a sports facilities authority for a $3 billion partly bond-financed NFL stadium and makes changes to a sales tax and revenue bond program.

Guessing what may happen as Congress pounds away on a surface transportation reauthorization bill has not rattled credit ratings so far, but a key deadline could slip.

The East San Francisco Bay area water and wastewater utility will price into a market that has seen increased revenue bond issuance.