Oklahoma

A subpoena sent to the Oklahoma Corporation Commission this week seeks communications related to 2021's Winter Storm Uri and nearly $3 billion of utility securitizations that priced in 2022.

Attorney General Ken Paxton put several big banks under a review last month, raising concerns more municipal bond underwriters could be driven out of the state.

The Grand River Dam Authority, the state's largest public power utility, is expected to start issuing the debt later this year.

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.

The state's strong reserves contributed to brighter rating outlooks from Moody's Investors Service and, earlier this year, S&P Global Ratings.

The $500 million of revenue bonds to initially finance a $5 billion controversial expansion program were priced amid a turbulent market.

City voters will decide Dec. 12 on a proposed one cent, six-year sales tax to fund an at least $900 million arena for the NBA's Oklahoma City Thunder.

Final state approval of the debt was conditioned on the resolution of a petition to the Oklahoma Supreme Court to revisit its Aug. 1 validation of the debt.

Kevin Stitt ordered a special session to put the state on a path to zero income taxes and consider a proposal sparked by a dispute over Native American taxation.

The rating is the first so far released for a controversial debt sale that will begin financing a $5 billion, 15-year toll road expansion project.

The bond issue, which was delayed due to litigation, would be the first debt sold by the turnpike authority for its $5 billion, 15-year toll road program.

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.

The state's Council of Bond Oversight will once again consider $500 million of bonds for a controversial $5 billion Oklahoma Turnpike Authority expansion.

The Attorney General's office found the firm complies with a 2021 state law banning contracts with companies that "discriminate" against the firearm industry.

The eight-state region accounted for $38.5 billion in muni bond sales in the first half of 2023, with the lion's share coming from Texas.

The state treasurer's revisions, which shrank the list to six financial firms from 13, includes Bank of America, JP Morgan Chase and Wells Fargo.

The rating agency's release ESG credit indicators for states and territories last year was blasted by GOP officials for being politicized, vague, and confusing.

The bonds are part of an $814 million infrastructure funding package that includes an extension of a 0.95% sales tax also approved by voters.

The turnpike authority will now seek reapproval from the Oklahoma Council of Bond Oversight before it can head to the municipal bond market.

Mayor David Holt says the city and its NBA team can replace the Paycom Center with a bigger facility without raising taxes.