City of Houston, TX

The nation's fourth-largest city will have new officials at the helm of its government and finances for the first time in eight years.

City Controller Chris Brown called for more due diligence on financing plans for a $2.6 billion project to renovate Bush Intercontinental Airport's Terminal B.

Triple-A yields rose one to five basis points, depending on the scale, as secondary trading showed cheaper prints and some new-issues had to be cheapened to clear the market while USTs saw larger losses of up to 16 basis points on the three and five year.

State lawmakers passed bills aimed at the city's home-rule powers and a union contract impasse, as well as funding for a convention center expansion.

Houston is one of the largest U.S. cities to set up a trust to help fund non-pension retiree benefits such as healthcare.

Massive transit projects have funding momentum, and traditional road and bridge projects are advancing as well despite political opposition and some shaky funding.

The school district's AA-plus rating is supported by strong reserves and Houston's economic strength, S&P Global Ratings analysts said.

The Texas Education Agency, which initially sought the takeover in 2019, will appoint managers to run the state's largest public school system.

The rating agency raised the system's subordinate-lien general airport revenue bond rating to A-plus from A with a stable outlook amid increased enplanements.

Houston has built up a $344.8 million general fund balance and reduced its unfunded pension liability to about $1.5 billion ahead of a possible economic slump.

A three-judge panel reversed a district court's ruling in favor of the city's Firefighters' Relief and Retirement Fund that the law was unconstitutional.

The honorees of the past are making a big impact in the present.

A reported preliminary 25.8% drop in May issuance shows how strong fund inflows, improving credit and the reopening of governments are keeping the muni market issuer friendly.

Cameron Mock, chief of staff and senior fiscal advisor to the deputy governor of Illinois, Melissa Dubowski, deputy finance director of the city of Houston and John Markowitz, assistant treasurer of Transurban, join Innovation Editor Lynne Funk to discuss their day-to-day work navigating COVID-19 effects, budget stresses and the future of public finance post-pandemic. (25 minutes).

Deputy finance director, Houston

The new-issue market saw deals from Houston, the Illinois Finance Authority and the City and County of San Francisco, Calif., hit the screens.

The bonds are pricing in three series on Wednesday and Thursday through senior manager Morgan Stanley.

Municipal bond prices remained steady as more supply hits the screens.

Municipals finished little changed on Tuesday in light trading activity with the summer seeming to settle in.

Heavyweight ballot measures include $3.5 billion from the Metropolitan Transit Authority of Harris County and $3 billion for the Cancer Prevention Research Institute of Texas.