The state government should not use its bonding authority to bail out upside-down homeowners, according to the official who oversees the Nevada government’s housing agencies. Mendy Elliott, director of the Department of Business and Industry, was asked by a legislative subcommittee to look into the possibility of using bonds to help homeowners who owe more on their mortgages than the homes are now worth, following a major housing market correction.The idea was to see if money raised through bond issues could be used to help such homeowners refinance.“She recommended against it basically because it would be imprudent for the state to take on that unsecured risk,” said Elisabeth Shurtleff, spokeswoman for the department. Elliott also told lawmakers that such a program could put the state’s bond rating at risk, Shurtleff said.
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"Folloing recent yield moves, a generic muni index is now down 1% on the month with no real sub-sector showing much deviation from that result," said Kim Olsan, senior vice president of trading at FHN Financial.
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The law firm revealed 2024 promotions.
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As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.
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The extension of the current solar net metering system could lower revenue for the utility.
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The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.
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John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.
April 18