The partners working on an Austin-San Antonio Commuter Rail District added a new member as the city of Schertz agreed to pay the $49,500 membership fee for a seat on the board. The board is studying a commuter rail system along the Interstate 35 corridor with the aim of easing traffic between San Antonio and Georgetown, north of Austin, boosting local economies along the way. The Schertz City Council also authorized the Schertz Economic Development Corp. to vote on all the financial and planning aspects of the rail system. The San Antonio suburb of 28,180 did not authorize additional city resources or taxes nor commit to future costs for the rail project.
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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.
April 25