City of Houston, TX

The Texas city's general obligation rating was lifted to Aa2 with a stable outlook from Aa3 based on "meaningful" moves taken in its fiscal 2027 budget.

The combined utility system's commercial paper program capacity was increased to $1.5 billion and an up to $345 million cash flow borrowing was set for August.

Municipal bond professionals discuss the value of using munis to finance infrastructure for the World Cup.

The outlook revision to stable from negative follows the city's adoption of a fiscal 2027 budget with structural changes that greatly reduced a shortfall.

The spending plan includes revenue-raising measures involving the bond-issuing combined utility system that have sparked concerns by the city's controller.

The mayor's plan to balance the fiscal 2027 budget relies heavily on proposed revenue-raising moves involving the combined utility system enterprise fund.

The city council amended an ordinance dealing with police interaction with federal immigration enforcement to prevent a $114 million funding loss.

Austin and Dallas joined Houston in being warned that millions of dollars in state grants are at risk over federal immigration enforcement interaction policies.

The city faces the loss of $110 million in Texas public safety grants while a $174 million deficit is projected for its current general fund budget.

Capital needs and state actions were on the minds of two top local government officials at The Bond Buyer's Public Finance Conference in Austin.

The 10th annual event, which was originally scheduled for Oct. 1, will take place next week with the participation of some key city officials.

Major Texas cities are prepping big bond issues to finance convention center expansions, with Houston hitting the market this week with $1.425 billion of debt.

Flows into high-yield muni mutual funds had slowed over the past several weeks, and the past two weeks have seen outflows.

The city plans to sell about $690 million of AMT bonds on Nov. 18 to finance facilities and refund outstanding debt for the airline.

The city council took action to keep the property tax rate unchanged, a move that could punch a $53 million hole in the fiscal 2026 budget and drain reserves.

Controller Chris Hollins warned the city lacks sufficient reserves to deal with weather-related disasters in the face of reduced federal financial assistance.

The $719.5 million of general airport revenue bonds will help finance an ongoing multi-billion-dollar capital improvement plan.

Ahead of a 14-3 vote to pass the $7 billion spending plan, concerns were raised about new legislation affecting the city's public safety pension funds.

Controller Chris Hollins raised several concerns about the mayor's $7 billion budget for the fiscal year that begins July 1, including its use of reserves.

The spending plan for the fiscal year that begins July 1 was balanced through an ongoing reorganization of city government, according to Mayor John Whitmire.