Higher education bonds

Bond-issuing infrastructure districts and development zones were a focus of legislation passed by Utah lawmakers during a session that ended March 7.

The Trump administration has dealt several blows to an already-battered sector. 

State Treasuer Brad Briner said he hopes a longer maximum maturity will lead more borrowers to use the state conduit instead of the Public Finance Authority.

Glenn Hegar, the state comptroller since 2015, was chosen as the next chancellor for the Texas A&M University System by its board of regents.

Trustees of New Jersey City University voted to approve the pursuit of a merger with Kean University, a larger fellow state university 12 miles away.

The IRS has issued a preliminary determination that educational and general revenue bonds issued in 2018 by the University of Rhode Island are taxable due to alleged noncompliance with requirements of Section 149(g).

The rating agency said the one-notch downgrade, which comes ahead of a bond sale, was due to weaker operating performance and liquidity.

The school wants to be able to offer bonds supported by its general fund and not just bonds its revenue streams.

Moody's cited heavy reliance on reserves, potential for continued operating deficts, and a fall 2024 decline in enrollment as factors in the downgrade.

The president of St. Augustine University in North Carolina called the loan a "necessary evil" as it fights to remain solvent and accredited.