Due to an editing error, yesterday's front-page Deal in Focus story included inaccurate information in the lead paragraph and in the jump headline. Houston plans to issue nearly $1 billion of debt before the end of the month: $450 million of revenue bonds for the Houston Airport System and $500 million of general obligation bonds to fund city improvements.
"This was a much-needed rally as the long end struggled throughout the year, but now has been pushed back into positive territory," said Jason Wong, vice president of municipals at AmeriVet Securities.
Infrastructure like vertiports may be financed with municipal bonds.
Lawmakers passed California Gov. Gavin Newsom's expansive energy package, including a bill to extend the state's cap-and-invest program.
A TIF fund established by the Alexandria Industrial Development Authority supporting a troubled hotel renovation project in downtown Alexandria, Virginia, is reported to be in default.
The authority's borrowing apparatus is maintaining a business-as-usual approach it embarks on a massive new capital program and fends off federal cuts.
Cook County, Illinois, plans to go to market Oct. 1 with $150 million of sales tax revenue bonds. The deal comes on the heels of a Moody's upgrade to Aa3.
