East Baton Rouge Parish voters may be asked to approve a tax increase for a multimillion-dollar bond issue at next November’s general election. Parish Mayor-President Kip Holden said he may ask voters for a new property or sales tax, or possibly a combination of the two, to support the parish’s first infrastructure bond issue since 1975.Possible projects to be financed with bond proceeds could include $180 million of drainage efforts, $85 million for a new police headquarters facility, $55 million for an expansion of the parish correctional facility, and $45 million to expand the Baton Rouge convention center.The proposed bond issue could be on the ballot at next year’s Nov. 4 general election, which is also the runoff date for the mayoral and council races.East Baton Rouge voters approved a 0.5% sales tax in 2004 to finance the widening of 35 roads in the parish.
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Despite higher yields, muni to UST ratios remain rich. Ratios look "progressively richer" moving into the five- to 10-year part on the curve, with the 10-year spot "still far more attractive in taxables versus tax-exempts," J.P. Morgan said.
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The growing federal debt level may pressure lawmakers to retract or reduce the tax-exemption for munis to generate revenue, some market participants argue.
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It's a time of change, challenge and opportunity in the infrastructure and P3 space, Patrick Harder said.
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The meeting was attended by trade organizations, MSRB board leadership, Finance Committee members and MSRB senior staff.
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The Federal Emergency Management Agency is asking for an additional $9 billion for this year in hopes they don't run out of funds in August as they're currently slated to.
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The SEC won its case against Richard Ganci and Richard Tortora of Capital Markets Advisors over conflicts of interest present in their fee arrangement in connection to a $119 million offering for the City of Rochester, New York.
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