Texas

Prolific debt issuance by Texas school districts, state issuers, and others drove muni volume to a state record in 2024, easily surpassing 2023's $59 billion.

The bank's termination of its membership in the Net-Zero Banking Alliance ended a state review that could have led to a ban for governmental contracts.

The central Texas city of Clyde said it issued tax and revenue anticipation notes with a 9.5% interest rate to repay its insurers after an Aug. 1 bond default.

The session, which begins Jan. 14 with a more-conservative Republican majority, could bring additional anti-ESG and DEI legislation.

The use of extendable commercial paper, a first by an airport, provided DFW interim financing for its capital program without the need for bank liquidity.

The deal, which marks the city's largest special facilities revenue bond issuance, will help finance a terminal project at George Bush Intercontinental Airport.

The outlook change to negative comes in the wake of voter approval on Nov. 5 of a ballot measure requiring certain public safety spending by the city.

The borrower is planning to use a convertible taxable "Cinderella" structure in the wake of a delay in securing tax exemption for a chunk of the deal.

The University of Texas at Austin's Center on Municipal Capital Markets will provide graduate and continuing education programs, research reports, and public outreach.

Issuers in Southwest states led by Texas are hoping voters will approve billions of dollars of bonds in Tuesday's election.

The Harris County-Houston Sports Authority's CEO was ousted and its chair faces ouster as it prices a $330 million deal to restructure its bond debt.

The event went on as scheduled Tuesday against a backdrop of escalating conflict between the mayor and controller, with each requesting a probe of the other.

A constitutional amendment would allow municipalities to approve districts that could issue bonds to finance infrastructure for housing developments.

Christopher Roberts joins the firm as a managing director, Joey Dierker as an associate director, Soledad Mancias as a municipal underwriter, and Steve Basset as a director.

Conference sponsorships targeting bond firms led Mayor John Whitmire to call for a probe into actions by Controller Chris Hollins, who denied any wrongdoing.

Houston and other Texas cities face financial pressure caused by weather disasters, public safety salaries and pensions, or capped property tax collections.

The Dallas-based financial services firm, which launched a public finance business in May, announced a staff expansion.

The Texas city expects to finance 72% of the expansion program, which includes an arrivals and departures hall, with general airport revenue bonds.

Litigation in Arizona, Oklahoma, Texas, and Utah could determine bond issuance, culpability for defaults, or the constitutionality of underwriter bans.

September volume came in over $44 billion leading volume year-to-date to hit more than $380 billion, just shy of 2023's full-year total issuance.