New York

Lawmakers have proposed record high spending but left key needs unfunded, the Citizens Budget Commission warns as the state misses its April 1 deadline.

New York Power Authority CFO Adam Barsky and Battery Park City Authority CFO Pamela Frederick join The Bond Buyer's Lynne Funk to unpack the far-reaching consequences of eliminating, reducing, or limiting the federal tax exemption for municipal bonds.

Higher borrowing costs without the tax exemption could force public water, sewer and power providers to raise rates, neglect infrastructure, or sell systems.

The New York City Municipal Water Finance Authority is tapping the market for the second time in two months, this time with a $600 million refunding.

A district judge in Rhode Island issued a second order telling the administration to halt its grant freeze, saying his first order is not being followed.

New York Judge Andrew Borrok said a ruling on the summary judgments could come by late April after "a lot of sitting and writing and thinking."

The city's Independent Budget Office projects New York's operating surplus as a percentage of tax revenue will fall to 4.8% at the end of the fiscal year.

The New York City Transitional Finance Authority plans to make an impact on the municipal market this month with $1.8 billion of bond sales.

The MTA took a victory lap on congestion pricing, presenting new data and rebuking the "existential threat" from the White House. 

Current and former residents of The Harborside, a 329-unit continuing-care retirement community in Port Washington on Long Island's North Shore, are anticipated to receive an initial $6 million distribution after a sale of the facility for $86 million to Chicago-based private equity firm Focus Healthcare Partners, according to a plan approved by a bankruptcy court.