The Nassau Off-Track Betting Corp. has agreed to pay harness horse-racing tracks to settle a long-running, multimillion-dollar lawsuit.
According to Newsday, OTB officials would not specify the payment.
Harness tracks had filed a claim against Nassau and other regional OTBs for annual payments the tracks say they are owed, going back to 2004.
The payments, which state law requires, reflect a share of the proceeds OTBs get by simulcasting races from outside the state.
The Texas city is facing a potential level 1 emergency, indicating the water system is 180 days from supply not meeting demand.
Financial markets, including the muni market, priced in too much of a "sure thing, done deal" Wednesday morning, said Kyle Gerberding, director of trading, a portfolio manager and partner at Asset Preservation Advisors.
The state Supreme Court's decision did not address the 2022 law's governmental contract ban for businesses deemed to be "boycotting" the fossil fuel industry.
"We need private capital," the transportation secretary said.
"I would much rather invest in the muni, both in terms of default rates and in terms of the yield that you're getting off of those," said Travis Lower.
Wednesday's market rally is tied to President Donald Trump's announcement of the temporary ceasefire, which came about Tuesday night, an hour and a half before the president's 8 p.m. deadline, market participants said.
