Arizona

The Water Infrastructure Financing Authority will use information it received from banks, businesses, conservation groups, and others to solicit water augmentation projects next year.

The Arizona Board of Regents adopted a report recommending greater oversight of its three universities after the University of Arizona hit financial trouble.

The state would raise $500 million through internal debt sales backed by oil and natural gas severance tax revenue to fund long-term water purchase contracts.

Court-approved asset sales and bond exchanges are pushing a participant sports venue, a hospital, and a senior living community closer to exiting Chapter 11.

Owners of $284 million of defaulted bonds will get only $2.4 million in cash, along with a minority equity stake in Legacy Park's new owner.

Proceeds from the social bond issue will go to support high-performing public charter schools across the United States and promote educational equity.

Flush with bond authorization from the Nov. 7 election, officials are formulating issuance plans, while Colorado's governor called lawmakers back to session after a property tax cut measure was defeated by voters.

Public schools account for most of the $28.48 billion of bonds on Texas ballots Nov. 7.

A $25.5 million cash offer plus some equity was made to acquire Legacy Park, which was financed with $284 million of now-defaulted revenue bonds.

Record-breaking hot temperatures in the Southwest this summer likely had economic consequences and could focus the municipal bond market on heat-related credit risks and infrastructure needs.

Surpassing $150 million in total investments, New York, Illinois, Pennsylvania, Texas, Ohio, Arizona and Georgia have joined Florida, Miami-Dade and Palm Beach counties and Miami Beach in supporting Israel financially in the wake of the deadly terror attacks by Hamas.

The city plans to sell as much as $295 million of general obligation and revenue bonds in two deals next month.

The top five bond financings have an average dollar volume of more than $1.2 billion.

Royden Durham and Tony Tanner, portfolio managers at the Aquila group of funds, talk with Chip Barnett about what's special about Kentucky and Arizona -- what's the same and what's different -- within their municipal bond markets. (18 minutes)

Several states enacted school voucher or tax credit laws this year, while Arizona officials grapple with rising costs in its universal program.

Legacy Cares, which filed for bankruptcy in May, is trying to sell Legacy Park, which was financed with now-defaulted bonds issued in 2020 and 2021.

The state's Water Infrastructure Finance Authority is "strongly considering" the use of bonds as it seeks ideas on augmenting water supplies.

Bond trustee UMB Bank informed owners of the defaulted debt they may have actionable claims related to the bonds' sale.

States nationwide saw slower general fund revenue growth in fiscal 2023 after gains the previous two fiscal years fueled by high inflation and federal stimulus.

While acknowledging disputed allegations of mismanagement and infractions on the part of venue owner Legacy Cares, the judge denied a motion by the U.S. trustee in the Chapter 11 bankruptcy to appoint an independent trustee or dismiss the case.