Texas

Controversy over where to build a new jail has delayed further issuance of $260 million of voter-approved bonds after an initial $45 million sale.

The saga dating back to last year appears to be concluded with a settlement.

The project will expand the plant's capacity from 75 million gallons per day currently to 100 million gallons to serve a growing population.

The lawsuit filed in 2017 points to funding disparities when public school districts turn to local property taxes and bond issuance for capital funding.

Texas' largest public school system would use the proceeds from its biggest-ever bond referendum to fix aging facilities and make other improvements.

May volume "surprised on the high end and it has been one of the fastest starts to the year historically," said James Pruskowski, chief investment officer at 16Rock Asset Management.

A city council committee received staff recommendations to fully fund the Police and Fire Pension System within 30 years.

CPS Energy, which provides electricity and natural gas in the San Antonio area, has a $1.05 billion revenue bond issue pricing in early June.

Its state university systems face a funding freeze for noncompliance with a 2023 state law banning diversity, equity, and inclusion offices.

Texas Capital hired Steve Genyk, a former public finance head at UBS Financial Services, as a managing director to lead its new public finance business.

The spending plan for the fiscal year that begins July 1 would draw down the city's general fund balance to fill a budget gap that has grown to $187 million.

More than $17 billion of general obligation bonds piled onto May 4 election ballots in the state, with voters passing some of the biggest, including Dallas' $1.25 billion, 10-part package.

Delivery delays for Boeing planes are impacting airports, with Southwest Airlines recently announcing it is pulling out or reducing flights at some facilities.

April's volume stood at $40.456 billion in 653 issues, up 21.2% from $33.377 billion in 666 issues in 2023.

School districts, which have been a main driver of debt issuance in Texas, account for 58% of the $17.4 billion of bond requests in Saturday's election.

Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.

Photos from The Bond Buyer's Texas Public Finance conference.

A state ban on bond underwriters that "boycott" or "discriminate" against the fossil fuel or firearms industries has resulted in fewer banks providing municipal financial products and services.

"We believe in this," Transportation Secretary Pete Buttigieg said.

Since war broke out on Oct. 7 between Israel and Hamas, over $1.64 billion of Israel bonds have been sold to more than 35 U.S. states, counties, cities and municipalities.