An Arkansas constitutional amendment authorizing bond-financed economic development districts failed last week with only 43% support.
Issue 2 would have allowed development districts created by counties and cities to issue sales tax anticipated revenue bonds to finance projects. The bonds would be supported by the additional local sales tax revenues generated in the district.
The proposal, which was sponsored in the General Assembly by Sen. Jake Files, R-Fort Smith, was modeled on a similar program in Kansas.
After the election, Files said the proposal was probably too complex to be explained by the description on the ballot.
The measure also would have given local governments the authority to issue revenue bonds to retire unfunded liabilities of public safety pension plans.
-
The rating agency cited New Jersey's "robust budgetary surplus" while continuing to make actuarially based pension contributions.
September 17 -
By the close, muni yields were bumped up to four basis points, depending on the curve, while UST yields rose two to five basis points.
September 17 -
Walter O'Connor's decades-long tenure as a municipal bond portfolio manager at BlackRock will come to an end next year.
September 17 -
A congressional budget impasse is leading toward a stopgap funding measure via a continuing resolution which could solve a budget shortage in the District of Columbia.
September 17 -
The House oversight subcommittee hearing was titled "Virtue Signaling vs. Vital Services."
September 17 -
Ohio politicians are racing to deliver relief as a citizens group gathers signatures for a November 2026 ballot initiative to end property taxes in the state.
September 17