Texas

April revenue collections set records in Southwest states as a strong economy and inflation boosted income and sales tax collections, although some officials are urging caution.

The Texas Natural Gas Securitization Finance Corporation picked a team of underwriters to sell debt for utilities hit hard during 2021’s Winter Storm Uri.

Texas ballots are bursting with $18.5 billion of bonds Saturday as cities and school districts ask voters to approve 207 bond measures.

Total April volume was $34.329 billion in 729 deals versus $37.105 billion in 1,124 issues a year earlier.

Oklahoma is poised to follow in the footsteps of Texas by barring banks from municipal bond deals if deemed to be against firearms and fossil fuel industries.

Like last week, supply for the new-calendar issuance is light at $4.804 billion with $3.182 billion of negotiated deals and $1.622 billion of competitive loans.

After dropping dramatically with the onset of the COVID-19 pandemic in 2020, energy severance tax revenue is soaring along with oil and gas prices.

Photos from The Bond Buyer's 2022 Texas Public Finance conference.

Firms remain uncertain about how state laws that apply litmus tests for banks and others seeking contracts with governmental entities impact them.

Underwriters sidelined by the state's new litmus test on firearms policies have bought many past Texas TRANs, but the state won't need to issue any this year.

Dallas Fort Worth International Airport will bring its first new money issue since 2017 to the municipal bond market next week, buoyed by an rating upgrade.

Next week's potential volume is slated to be more than $8 billion, led by $1.25 billion of taxable and tax-exempt future tax-secured subordinate bonds from the New York City Transitional Finance Authority.

The city has succeeded in defending the tax-exempt status of a series of bonds issued in 2013 against IRS claims that they should be retroactively taxable.

Texas says it will crack down on financial companies it perceives to be mistreating the fossil fuel industry as it implements a 2021.

The Securities and Exchange Commission has charged Texas' Crosby Independent School District and two individuals in connection with the school district’s 2017 fiscal year financial statements.

Lawmakers in other red states are trying to follow Texas' footsteps with bills to subject banks to a litmus test over their treatment of the firearm industry.

Terry Thornton, a senior vice president in Goldman Sachs’s Houston investment banking office, died suddenly on Feb. 27 at the age of 51.

Municipal bond issuers in the Southwest sold $90.8 billion of debt in 2021, down 3.2% from 2020 as lost refunding volume outpaced a gain in new-money sales.

Four Texas defaults reflect a sector that accounts for half of this year's municipal bond defaults, according to Municipal Market Analytics.

Last week saw the first co-op securitization to finance storm costs, a $908 million deal that could set a national model for utilities.