Investments

John Di Stasio, president of the Large Public Power Council, said while the industry faces some pressures, public power systems are stable with growing revenues and healthy cash coverages.

Getting project grant agreements in place, which formally releases the federal funds, is taking more time than expected.

"We believe pensions have an elevated probability of stressing the state and local governments' budgets even as Illinois has made supplemental contributions above the statutorily required amounts," S&P Global Ratings analyst Joseph Vodziak said.

Judge Laura Taylor Swain said she found the Oversight Board expert's calculations more convincing than those of the bondholders.

While supply has started to pick back up with an outsized primary market calendar this week, it's still not enough to meet demand, said Cooper Howard, a fixed income strategist at Charles Schwab.

The bank hasn't managed debt sales in Texas since a measure took effect in 2021 that bars governmental entities from working with companies that "discriminate" against firearms businesses. BofA's "current risk-based framework and policies" can comply with that law, a lawyer for the bank has told the state.

The Brent Spence Bridge and Hudson Tunnel were among last year's winners of the sought-after federal Mega grants.

State lawmakers passed bills aimed at the city's home-rule powers and a union contract impasse, as well as funding for a convention center expansion.

A $100 million offering of voter-authorized general obligation bonds will speed up blight removal and fund parks and transportation projects.

California Gov. Gavin Newsom and lawmakers struck a budget agreement just days before the start of the fiscal year.

Virginia Wong, a partner in Nixon Peabody's public finance group, talks with Chip Barnett about effective mentorship and building successful teams. (15 minutes)

The FAA's reauthorization is facing trubulence before its expiration in September, but the enormous amount of cash airports have received from recent legislation situates them well regardless.

"I got cut," he told The Bond Buyer. "I'm looking for a new job now."

The Police and Fire Retirement System lacks authority to shift to a 20-year amortization of unfunded legacy liabilities from the 30-year term laid out in the city's bankruptcy exit plan, according to a judge's ruling that eases one fiscal pressure point for the city.

Despite a slow start to the week, "buyers are becoming more constructive, and there's increased buying going on," said Pat Luby, a CreditSights strategist.

The Florida Insurance Guaranty Association, which handles the claims of insolvent insurers, plans to borrow $600 million in the municipal bond market.

"His key role in the financial rescue of New York City following its near-bankruptcy in 1975 set Dick on a nearly five-decade path making sure such an event would never happen again in the city and elsewhere," said William Glasgall of the Volcker Alliance.

The board is offering $2.4 billion to all bondholders while $8.5 billion of par value is outstanding.

As the Republican-controlled state House and Senate remain divided on how to deliver a historic tax cut, the governor vetoed dozens of bills to pressure lawmakers.

The Nevada System of Higher Education regents are expected to select a new chancellor by the end of June. Former treasurer Kate Marshall is a finalist.