Southwest

A big drop-off in Texas and a decline in refundings took a bite out of the municipal bond business in the Southwest.

Top quality municipal bonds were stronger at mid-session, according to traders, ahead of this week’s $4 billion new issue calendar.

The municipal bond market is looking at a smaller than average bond calendar this week, which will be dominated by the short-term note sector.

The state of Texas is riding into the market this week with the biggest short-term deal of the year.

Primary municipal bond market volume is expected to drop to $4 billion in the coming week, as one gigantic note sale is expected to be larger than the entire bond calendar.

Victoria school board members agreed late Thursday night to ask voters in November to approve a $141.2 million capital improvement plan.

After pondering — and in some cases wrestling — with the proposed bond issue, the Ector County Independent School District Board of Trustees approved calling a Nov. 7 bond issue election for $291,172,291 during a special meeting Thursday.

The Leander, Texas, school board Thursday night unanimously approved putting before voters in November a $454 million bond package, the first in 10 years.

Mineral Wells City Council, Texas, on Tuesday unanimously set Nov. 7 as the day residents can decide the outcomes of three proposed capital improvement projects.

The Pottsboro Independent School District's board of trustees gave its seal of approval Tuesday night on a $54.7 million bond package meant to update many of the district's facilities.