Economy

"The Maryland SmartBuy program is designed to help first-time home buyers who have student loan obligations qualify for acquisition financing under the Maryland Mortgage Program," said the CFO of the Maryland Department of Housing and Community Development. 

The deal comes after months of disagreements over ballooning costs for the project, which was first announced in 2018.

Lawmakers in Illinois have proposed legislation to consolidate the Chicago Transit Authority, Metra, Pace and the Regional Transportation Authority.

"It'll be very interesting to see when an event happens or the market get sloppy, what the secondary market does," said a sellside panelist at a Bond Buyer market outlook panel in Florida.

Hawaii Gov. Josh Green's last-minute attempt to resuscitate a bill that would have allowed Hawaii Electric Co. to issue debt, backed by a rate increase, failed.

Strong and growing sales tax revenues support the bonds. Repayment isn't tied to ridership, which has declined.

Polk County, Iowa is issuing $113 million of general obligation capital loan notes, Series 2024A, for the Des Moines Airport Authority's new terminal project.

The bill would authorize $105 billion in appropriations through 2028 but still faces a few hurdles in Congress.

The Virginia Resources Authority and the Virginia Housing Development Authority have deals on tap while gilt-edged Delaware is selling its GO debt.

With billions of federal funding available from the Infrastructure Investment and Jobs Act, one observer says it could be limiting the amount of municipal bonds issued by the sector.

Teague, most recently an executive director of the municipal securities department at Morgan Stanley, will focus on surface transportation.

The Mayo Clinic is undertaking a $5 billion expansion that may bring new debt as it reconstructs its core Rochester, Minnesota campus.

Duluth-based St. Luke's affiliation with Aspirus Inc. has lifted the prospects for its speculative-grade bonds; S&P placed the hospital on CreditWatch positive.

Municipal Market Analytics reports the most technical defaults in 2023 since it started tracking them, including 24 in the not-for-profit hospital sector.

The amendments add three new scenarios that warrant disclosure under MSRB Rule G-47 on time of trade disclosure.

The state's transportation commission took action to end a comprehensive development agreement for a partially bond-financed toll lane project on State Highway 288.

The eight-year, $1.35 billion property tax levy would have to be approved by the City Council before going to voters in November.

While the number is high, the par amount affected is less than the first quarter of 2023 figures.

Municipal bonds on the rise

The bankruptcy of Iowa City's Mercy Hospital is closer to an end with the resolution of a dispute between unsecured creditors and the trustee and bondholder.