Friday's story on an upcoming Puerto Rico Municipal Finance Agency sale included inaccurate information. The debt is backed by an unlimited special additional property tax that varies depending upon the municipality. The tax doesn't have a rate cap so municipalities are not limited in the amount of property tax revenue they can collect. Another 1.03% property tax pays down the commonwealth's general obligation bonds.
The new-issue calendar is led by Washington with $1.3 billion of GOs selling by competitive bid in three series.
A trio of current and former Alaska lawmakers presented views differing from the governor's on how to solve the state's budget red ink.
Kutak Rock warns tax attorneys about the Internal Revenue Service doing compliance checks as opposed to formal audits on certain multifamily bond issues as tax season is expected to add more stress to an understaffed agency.
The rating agency cited weak operating results and high leverage.
Piper Sandler will price $100 million of electric revenue bonds for Iowa public utility Muscatine Power and Water on Wednesday.
Longer-term bonds could ease financial pressure for Sound Transit's $54 billion long-range plans.
