Arizona

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.

Extending the tax, which expires at the end of 2025, would raise billions of dollars for transportation projects in the nation's fourth-largest county.

Bondholders, other creditors, and the venue's owner argued the U.S. trustee's move would be detrimental for a plan to sell the facility to maximize recoveries.

A federal bankruptcy judge will hold a hearing later this month on appointing an independent trustee for Legacy Cares or dismissing the case.

The measure would have prevented state and local public entities from requiring a company to implement an ESG policy to get a government contract.

Easing drought conditions are not stopping states from restricting water use and investing in future supplies.

Texas Gov. Gregg Abbott plans a special session on school choice as more states pass vouchers and Arizona's universal program sees costs explode.

Arizona, Nevada and California announced an agreement on Colorado River water use reductions, possibly averting a more stringent federal solution.

The city's agreement for the $2.1 billion, mixed-use project to build an arena for the NHL's Arizona Coyotes included a bond-financed cleanup of a landfill.

The Chapter 11 filing follows defaults by nonprofit Legacy Cares on $284 million of mostly tax-exempt bonds sold through the Arizona Industrial Development Authority.

A draft environmental report released by a federal agency could threaten California and Arizona's water supply, if the states don't reach an agreement on their own to protect the Colorado River.