Voters in Stanislaus County turned down the Oak Valley Hospital District’s latest bond request.
The district’s $27 million general obligation bond measure failed Tuesday. It was supported by more than 65% of the voters, but still fell short of the required two-thirds majority.
The district’s voters approved a $37 million bond measure in 2004, but hospital officials said they needed more money because the projected costs of constructing a replacement hospital had soared in the meantime.
The bond plan, a key priority for Mayor Brandon Johnson, will be paid for with revenue gained by letting tax increment financing districts expire.
Moody's Ratings on Monday revised Illinois' outlook to positive from stable and affirmed the state's A3 issuer rating and the A3 rating on its GO debt.
"Bifurcated demand reflects the persistent bid strength from [separately managed accounts] and retail investors, not to mention more accounts marshaling cash and liquidity up front while the Fed perspective evolves," said MMA's Matt Fabian.
In a move that kicks the can down the road at the very least, the Commission has begun a process that often results in outright rejection.
The 2022 law, which has so far banned three major investment banks from underwriting municipal bonds in Oklahoma, could be amended to limit its reach to state agencies.
The SEC has won a partial victory against Choice Advisors and its principal Matthias O'Meara for their role in acting as unregistered brokers and for engaging in a fee-splitting arrangement.
