Infrastructure

The Austin City Council voted Thursday to issue $470 million in debt to purchase an East Texas biomass power plant that has only one customer, the city itself.

Fitch Ratings cut the Miami-Dade County Expressway Authority’s bonds to A-minus from A after lawmakers passed a bill to cut tolls and dissolve the authority.

Airports have been clamoring for an increase in the PFC limit for years, arguing that they need it to help finance capital improvements that would be paid for with new bond issues.

Congress’ capacity and willingness to spend anything significant on infrastructure is severely hampered by the already-massive size of the federal debt.

The urgent need to repair and upgrade the housing stock may offset leeriness over private development.

The current volume cap on PABs issued for highways and freight improvement has just over $2.5 billion remaining that can be authorized by the U.S. Department of Transportation.

Five companies responded to a request for “expressions of interest” in building three prisons amid federal scrutiny of conditions in the prison system.

The port's initiative is a credit-positive approach to the risk of online attacks, according to Moody's Investors Service.

If approved by the governor, the budget will mark the ninth consecutive year of record spending by the Sunshine state.

The issuer launched a new investor relations website in advance of its bond sale Tuesday.