Mayor-elect Michael Nutter takes the reins in Philadelphia today with his swearing-in ceremony set for 10 a.m. The ceremony, hosted by the City Council, will take place at the Academy of Music. Nutter was expected to deliver his inaugural address after taking the oath of office. Immediately following the swearing-in ceremony, the mayor was to join newly appointed senior administration officials.Nutter last week appointed Rina Cutler to the newly created position of deputy mayor for transportation and utilities. Cutler will advise and assist the mayor as well as coordinate all policies, planning, and initiatives relating to transportation, waste management, infrastructure, and public utilities. She will serve as Nutter’s representative working with the Southeastern Pennsylvania Transportation Authority, the Philadelphia Gas Works, the Philadelphia Parking Authority, and the departments of streets, water, and aviation.Cutler currently serves as deputy secretary of administration for the Pennsylvania Department of Transportation in Harrisburg. Cutler also has previously served as executive director of the Philadelphia Parking Authority, Boston transportation commissioner, and executive director of parking and traffic in San Francisco.
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Inflows returned to muni mutual funds as investors added $200.3 million for the week ending Wednesday after $1.474 billion of outflows, according to LSEG Lipper.
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Democratic Gov. Laura Kelly nixed another tax cut bill passed by the Republican-led legislature this year, while pushing a less-costly plan.
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It's a big week for the Fortress-backed train company, which refinanced more than $4 billion of debt and broke ground on its West Coast high-speed line.
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Photos from The Bond Buyer's Texas Public Finance conference.
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The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.
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"Just like the ATM became an additional transaction channel in the banking industry, I believe distributed ledger technology will provide municipal issuers with a similarly valued tool to sell their bonds," said Rick Coscia, Quincy's Strategic Asset Manager.
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