Texas

Projected available capacity for the Permanent School Fund's bond guarantee program fell to $653 million at the end of October from $3.52 billion the previous month.

Total November volume stood at $19.712 billion, the lightest of any month year-to-date, in 527 versus $37.073 billion in 1,055 issues a year earlier, according to Refinitiv data.

A full review of the deal pushes its consideration by the Texas Bond Review Board into January.

The deal has until the end of Friday to clear the Texas Bond Review Board, whose members had no questions about the transaction when it was presented at a Thursday meeting.

Rising property values will help keep the $3.56 billion of new bonds manageable, particularly if issuance is spread over multiple years, rating analysts said.

The city's mayor says clarity is needed on debt issuance practices in the wake of the ruling.

A Texas judge ruled the Amarillo City Council did not provide sufficient notice to the public prior to its approval of $260 million of tax anticipation notes.

Total October volume was $24.951 billion in 510 deals versus $41.811 billion in 1,068 issues a year earlier, according to Refinitiv data.

Population growth is fueling bond proposals in Texas, particularly for schools; K-12 districts there are asking voters for $15 billion of bond authority.

The operator of the South Terminal said it expects to prove hundreds of millions of dollars in damages caused by the city of Austin's "unlawful actions."

Texas university lands in the Permian Basin, which face a potential EPA crackdown, generated $2.124 billion for the Permanent University Fund in fiscal 2022.

The two hires boost Bancroft's muni staff to 11 in offices in Dallas, Fort Washington, Pennsylvania, and San Mateo, California.

UBS Group was the only bank that underwrites munis included in the state's list of financial companies determined to be boycotting energy businesses.

The El Paso County Hospital District is evaluating options, including other debt proposals, to address capacity constraints at its facilities.

Opponents of Oklahoma Turnpike extensions are calling for limits on the agency's ability to issue bonds and raise tolls.

A larger new-issue slate led by large deals from the Texas Water Development Board and state of Illinois took focus away from the secondary.

S&P upgraded the bonds to AA-plus and Fitch revised the outlook on the AA-rated debt to positive from stable.

Several Texas school districts, including Austin's, have put bond issues on the Nov. 8 ballot with some of the proceeds earmarked to fund security measures.

With Texas reporting a double-digit revenue increase in fiscal 2022 and projecting a record budget surplus, Gov. Greg Abbott wants a large property tax cut.

Tollway revenue in the first half of 2022 surpassed pre-pandemic 2019 levels in five of the months.