Coronavirus

Most of the state revenue loss came from $599 million in lower-than-estimated state sales tax collections, which support 79% of Florida’s budget.

With the latest federal rescue package stalled, New York's mayor has asked state lawmakers to authorize an additional $7 billion in bonding.

An injunction was issued against U.S. Immigration and Customs Enforcement, which could impact a prison's facility's revenue bonds.

Colorado will continue its highway building with $500 million of certificates of participation, as it weathers its deepest downturn in years.

Credit concern is being lost somewhat in pricing munis and traders said they are looking for alternative benchmarks, even turning to corporates and U.S. Treasuries to price the market.

The $40 billion budget for fiscal 2021 authorizes up to $5 billion of borrowing through the Federal Reserve’s Municipal Liquidity Facility.

GFOA considers a minimum baseline level of reserves to be 16%.

With postponing expenditures and the rainy-day fund withdrawal, the state still forecasts a yearend surplus.

Without federal funding, many toll facilities will be forced to comply with bond covenant requirements, which could mean reductions in workforces and delays in capital projects, toll groups said.

The primary supply for the holiday-shortened week is projected to dip to just over $4 billion, with a mix of tax-exempt and taxable issuance led by Colorado’s $500 million of certificates of participation.