General obligation bonds

Kroll Bond Rating Agency downgraded Chicago's general obligation bonds to A-minus from A, citing high fixed costs and one-time fixes. The outlook is negative.

Chicago plans to sell roughly $830 million of general obligation bonds to finance its 2024-28 capital improvement plan, according to the city's finance team.

The county would hold a special election for a sales tax to provide more funds to build and operate a bond-financed jail project that faces rising costs.

While the new tax policies should address the state's projected deficit, rating agencies are cautious about the projected revenues and federal spending on Medicaid, which could impact Louisiana.

The rating agency said the district's strong management helped boost its ratings ahead of an $806 million bond issuance slated for Jan. 22.

The largest issuance the Local Government Commission approved was $387 million of bonds for Mecklenburg County.

Prolific debt issuance by Texas school districts, state issuers, and others drove muni volume to a state record in 2024, easily surpassing 2023's $59 billion.

Ohio legislators plan to vote Wednesday on a resolution that would put a $2.5 billion general obligation bond measure on statewide ballots May 6.

The county commission, which sued Oklahoma City in June over its denial of permit for the jail site, is pursuing a possible settlement.

The county is reviewing responses to a request for proposals to help fund construction of a replacement jail through a bond-financed lease-purchase arrangement.