Colorado

Low rates in an economic crisis brought a plethora of Southwest municipal bonds to market, and some see a strong second half coming.

The Longmont City Council is expected to formally decide in August whether to seek voters' November election approval of a ballot question that would authorize the city to sell up to $80 million in water revenue bonds.

State auditors will continue to be represented on the Governmental Accounting Standards Board after Chairman David Vaudt ends his term June 30 although not as the chairman.

Even with the news that New York City is looking to potentially borrow $7B through its Transitional Finance Authority as it faces $9B in lower revenues, the market didn’t blink and TFAs traded firmer.

Colorado will continue its highway building with $500 million of certificates of participation, as it weathers its deepest downturn in years.

Credit concern is being lost somewhat in pricing munis and traders said they are looking for alternative benchmarks, even turning to corporates and U.S. Treasuries to price the market.

The primary supply for the holiday-shortened week is projected to dip to just over $4 billion, with a mix of tax-exempt and taxable issuance led by Colorado’s $500 million of certificates of participation.

Denver International Airport plans to apply up to $560 million of existing bond funds to accelerate a gate construction project.

State officials say Colorado needs to cut $3.3 billion from the budget for fiscal year 2021 after the largest revenue drop in the state’s history.

Ratings for convention center financings and for hotels build to support the venues are under pressure.

Issuers in the region sold $78.2 billion of bonds in 2019, a 24% year-over-year gain driven by growth in Texas and Colorado.

Georgia, Wisconsin, Texas and other states have master state contracts with insurers that are available to local governments for cybersecurity.

The Colorado-based Tri-State Generating and Transmission Association said it would retire its coal-fired power plants within 10 years.

The first hard evidence of how this is affecting ratings in the public finance sector came from a downgrade two months ago involving Princeton Community Hospital in West Virginia.

Denver International Airport expects to pay up to $210 million in termination costs to exit a public private partnership for renovation of its main concourse.

Proposition CC, which would have repealed the revenue cap built into Colorado's Taxpayer Bill of Rights, promised to help fund three of the state's most notably underfunded buckets: K-12 education, higher education and transportation infrastructure.

The two firms hope the more formal union will pave the way for an expansion of products and services and the speed by which they go to clients.

P3 players are turning to smaller projects and taking on more partners, industry insiders told a Bond Buyer conference.

Proposition CC, which would have allowed the state to retain revenues above a 27-year-old formula, was defeated.

Jared Polis proposed a $34.5 billion budget, including $13.8 billion for the general fund.