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Joliet is embarking on a $784 million project to replace old water mains and design and engineering work for a new transmission line from Lake Michigan.

A new law in empowers Utah to keep an eye on debt issuance by newer development authorities and a transit agency, as well as approve P3s involving state funds.

Moody's said its rating upgrades reflect the Jacksonville, Florida, utility's sound financial performance and governance changes.

Raymond James has agreed to acquire SumRidge Partners, a fixed income market maker dealing in investment-grade and high-yield municipal bonds.

Nora Wittstruck, senior director and environmental social and governance sector lead at S&P Global Ratings, talks with Chip Barnett about climate change, sea level rise and how municipalities’ mitigation efforts affect South Florida and other parts of the U.S. (19 minutes)

Daily report for March 29, 2022

With massive secondary selling pressure and a larger calendar, credit spreads are likely to continue to widen.

Washington University will sell $1 billion of new money with tentative plans to offer a mix of 30-, 40-, and 100-year paper.

The commonwealth's unemployment rate hit a record low in February.

The budget provides more money to state and local governments and record levels of funding for schools and railroad initiatives.

Dallas Fort Worth International Airport will bring its first new money issue since 2017 to the municipal bond market next week, buoyed by an rating upgrade.

California Gov. Gavin Newsom and his party's leaders have proposed conflicting plans to give residents relief from gas taxes.

Fitch said it expects UT to maintain a strong operating performance that could warrant an upgrade in the next two years.

Daily report for March 28, 2022

The board said the projects will result in up to $387 million of savings over a 15-year period.

Next week's potential volume is slated to be more than $8 billion, led by $1.25 billion of taxable and tax-exempt future tax-secured subordinate bonds from the New York City Transitional Finance Authority.

NOTICE IS HEREBY GIVEN to the holders of the Bonds of the New York City Municipal Water Finance Authority (the “Authority”) set forth in the Schedule below (the “Refunded Bonds”) that there has been deposited with U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as successor in interest to U.S. Bank National Association, as Trustee and Escrow Agent, moneys and direct obligations of the United States of America, as permitted by the Authority’s Water and Sewer System Second General Revenue Bond Resolution, adopted by the Authority on March 30, 1994, as amended and supplemented to the date hereof (the “Resolution”), the principal of and interest on which, when due, will provide moneys which, together with the moneys deposited with the Escrow Agent at the same time, shall be sufficient and available to pay the principal amount thereof (the “Redemption Price”) and interest due on the Refunded Bonds on June 15, 2022 (the “Redemption Date”). The Refunded Bonds are deemed to be paid in accordance with Section 1201 of the Resolution. The Trustee has been irrevocably instructed to redeem the Refunded Bonds on the Redemption Date and at the Redemption Price, plus accrued interest thereon to the Redemption Date.

The New York Fed has called on regulators to issue updated rules on money market funds, but the market effects are quickly transforming the market.

Ten states, includeing five in the Southeast, pre-pandemic employment levels in January, according to Fitch Ratings. In an update, the U.S. Labor Department reported Florida’s seasonally adjusted unemployment rate fell to 3.3% in February.

Even deals that go bankrupt can be seen as successes in the U.S. P3 market, which may face an "inflection point" with the new infrastructure law.