Florida

Natural gas prepayment deals helped drive the utilities sector to top the Southeast in an overall down year for municipal bond sales across the region.

Robert Poole, a leading expert in the U.S. public-private partnership transportation sector, joins infrastructure reporter Caitlin Devitt to talk about upcoming deals including toll lanes and bridges in the Southeast and high speed rail in the West as well as states that are advancing P3s and action on the federal front. (37 minutes)

"We're going to be opportunistic based on what the market conditions are and what the interest rate environment is," said Ben Watkins, director of the Florida Division of Bond Finance. "We like to be like Boy Scouts — we always want to be prepared."

Issuance for the month is slightly above the $27.666 billion 10-year average, according to LSEG Refinitiv data.

The city is looking for "a diverse group of qualified firms with varied strengths and market advantages" to "provide the most cost-effective distribution."

The legislation comes as the U.S. and Florida saw a record number of rocket launches last year.

LSEG Lipper reported Thursday that investors added $210.6 million to municipal bond mutual funds for the week ending Wednesday — the third consecutive week — after inflows of $898 million the week prior.

In her State of the County address, Mayor Daniella Levine Cava unveiled plans to invest in housing, septic to sewer conversions, flood prevention, parks and other infrastructure.

The top five bond financings have an average dollar volume of more than $917 million.

Tourism raised $35.2 billion in taxes in 2022, consisting of $18.9 billion in federal tax revenue, $8.1 billion in state tax revenue and $8.2 billion in local tax receipts, according to a report.

"It is not surprising that we have witnessed — and continue to witness — a great migration of Americans away from cities and states pursuing failed policies, with Florida serving as a refuge for freedom and sanity," Gov. Ron DeSantis said.

Red state-blue state battles have complicated ESG issuance even as the muni market strives to make it an accepted asset class. The Bond Buyer's Lynne Funk, Karen Pierog, Chip Barnett and Keeley Webster discuss how it's playing out nationally and regionally.

Citizens Property Insurance Corp. reported that private insurance companies assumed 650,399 policies from the state's last-resort carrier in 2023.

The muni market saw $379.992 billion of debt issued in 2023, only $11.076 billion less than the lackluster $391.068 billion seen in 2022.

At the ceremony, Patronis announced the State Board of Administration plans to make a sizable new purchase of Israel bonds.

The state's labor force continued to increase last month as more people entered the labor force, hitting an annual growth rate of 3.2%.

The rebound in the cruise industry, which has now more than recovered all the ground it lost during the pandemic, lifted the Canaveral Port Authority's rating.

The budget proposal includes $455 million for the Florida Division of Bond Finance to redeem, defease or purchase outstanding state bonds.

Finance officials from Ohio, Illinois, Pennsylvania, Oklahoma and Palm Beach County have joined Israel Bonds' new Government, Industry and Financial Services Leadership group.

More than one out of every 100 residents who pay income taxes left the Empire State during the pandemic in 2020, according to report released by state Comptroller Thomas DiNapoli. And, while slowing, the trend hasn't stopped.