Pennsylvania

New York City got a new mayor, comptroller and City Council while Boston and Pittsburgh elected mayors. In New Jersey, final results in the gubernatorial election were still too close to call.

The Allegheny County Airport Authority sold $832.7 million of bonds to cover two-thirds of the construction costs in the latest example of the region's modernization.

The weirdness of this storm adds yet another layer of complexity to the vexing problem of coping with climate change.

July volume was $31.9 billion keeping the annual pace ahead of last year's record-breaking total. Issuance still lags demand by a large amount — $60 billion by many accounts for August alone — as redemptions coupon payments pile up.

Goldman Sachs is lead managet for the issuance, which includes tax-exempt and taxable bonds.

The agency must still pay the commonwealth due to 2007 legislation that went sideways.

Even with a 23.3% year-over-year drop in May, with five months now officially in the books, long-term muni volume stands at $169.45 billion, ahead of the $157.96 billion issued in 2020.

Incumbents Bill Peduto and Eric Papenfuse were unseated, the Allentown race is too close to call and constitutional amendments to curb a governor's emergency powers appear headed to victory.

Voters will decide on constitutional amendments regarding the length of time a governor can implement a disaster declaration without legislative consent.

Pennsylvania's competitive GO deal saw its yields fall further from recent trading while the North Texas Tollway Authority benefited from positive credit news on the transportation sector and repriced 25 basis points lower. ICI reported another round of $2-billion-plus inflows.

The states intend to come to market with $600 million and $1 billion, respectively, bringing state GO credits in an improving credit environment that has held yields down.

Rates, ratios and credit spreads have munis entering May on solid footing, though some pressures due to tax season and rising U.S. Treasuries remain.

Mayor Jim Kenney called the latest rescue package the only funding source that can help with coronavirus-related revenue losses.

Maulin Vidwans, Jennifer Santangelo, Ryan Udell and Adam Chelminiak move over from White and Williams.

The commonwealth's largest public pension fund acknowledged an erroneous investment return that was just high enough to avoid triggering a teacher risk-sharing provision.

Gov. Tom Wolf said the tax has become unreliable for funding the commonwealth's vast network.

The city relies on the levy as a whole for 43% of its general fund revenue amid a national debate over work-from-home dynamics that could reach the U.S. Supreme Court.

The Pennsylvania treasurer, who leaves office Tuesday, says municipalities can artificially inflate their bottom lines through these revenue sources.

City officials say the continuation of enhanced taxing authority from Pennsylvania will help it refinance debt and avoid another fiscal cliff.

Joe Torsella still advised that such a move to backstop the commonwealth's two largest public retirement funds is no panacea.