The Navajo Nation Council last week rejected a call for a referendum to build jails and court facilities with money from a nearly $1 billion trust fund. The council defeated the proposal by Delegate Kee Allen Begay, 46 to 27, with 59 votes needed for passage. Begay wanted to give tribe members the chance to a vote on spending some of the principal in the tribe’s permanent fund on new criminal justice facilities on the sprawling reservation. The defeated measure would have appropriated $244,000 for a referendum asking voters whether $153 million from the principal of the fund should be spent to build additional jails and courts. Current tribal law limits the council to spending the interest on the fund, or about $17 million a year. The tribe has deposited 12% of annual revenues from taxes on energy, mineral, and timber production from Navajo lands into the fund since 1985.
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Federal Reserve Vice Chair Philip Jefferson said that as interest rates have moved toward a more neutral level, "it makes sense" now to proceed with caution.
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The California Debt and Investment Advisory Commission explored public finance solutions to child sexual abuse claims this week at an event in San Diego.
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Investors added $1.266 billion to municipal bond mutual funds in the week ended Wednesday, following $744.3 million of inflows the prior week, according to LSEG Lipper data.
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S&P revised Chicago's outlook to negative from stable and affirmed its BBB rating on the city's outstanding general obligation debt.
November 6 -
Public transit emerged as an $11 billion winner in the 2025 elections as voters in five states approved measures to pour money into the sector.
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At least $200 million of the bonds will be priced on a competitive basis.
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