Organization Root Tag

"Numbers are hard to come by in a comprehensive way, but we do learn the state's budget is targeted at $237 billion," said John Hallacy. "This budget is clearly not a 'caretaker' budget, but one that adds significant spending. The question is how that spending will affect the out-years."

The board approved that step at its second quarter board meeting held this week.

As the nation's fourth largest city faces a growing structural budget deficit, it is also expecting to issue more than $3 billion of debt for its airport, water and sewer system, convention center, as well as to fund a settlement with firefighters and for cash-flow purposes.

The extension of the current solar net metering system could lower revenue for the utility.

The finance team is "marketing slices of risk" to raise money to refinance its debt, investors said.

John Fleming is pushing back against a proposal in the state Legislature to change the way the state Bond Commission oversees the issuance of debt by cities, counties and local governments and entities.

The meeting was attended by trade organizations, MSRB board leadership, Finance Committee members and MSRB senior staff.

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.

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.

The public finance industry has been tracking the growth of the IRS budget with concerns that funding boosts would translate into higher audit rates for bond transactions.

Los Angeles Mayor Karen Bass aimed high in her State of the City speech just days before she will release a budget that needs to close a nearly half-billion-dollar deficit.

The most recent open solicitation period, last October, yielded three proposals.

Treasury representatives said Friday that they will be issuing further guidance to help counties deal with the upcoming reporting and compliance deadlines.

"We were originally thinking that we would offer five-, seven- and 10-year maturities, with $500 million in each tranche. But we decided today to just offer 5s and 10s — $500 million of five-year bonds and $1 billion of 10-year bonds," said Ben Watkins, Director of Florida's Bond Division.

New York City Municipal Water Authority returns to the municipal primary after a $1.4 billion deal earlier this year.

Municipal bond mutual funds saw the seventh consecutive week of inflows and the 14th week of inflows for high-yield funds.

The Municipal Securities Rulemaking Board's April 17-18 meeting will center on the many rule amendments the regulator has on.

"We withdrew the rating because we have determined we do not have sufficient information to maintain a forward-looking credit opinion on the city," S&P said.

A new report by the MSRB showed that from 2018 to 2022, a substantial increase in trading activity and the number of pre-trade quotes has been responsible for better pricing.

Despite an S&P rating upgrade ahead of this week's GO bond deal, Louisiana paid a wider spread to a 10-year benchmark than it did a year ago. Longer maturities saw tighter spreads on from a year ago.