Munis

The bonds are part of a proposed settlement with the city's firefighters union that would need court approval.

Milwaukee Public Schools is months late in submitting the annual financial audit reports amid turmoil that has seen its superintendent and comptroller depart.

The top five bond financings have an average dollar volume of more than $1.2 billion.

Controversy over where to build a new jail has delayed further issuance of $260 million of voter-approved bonds after an initial $45 million sale.

Even after paring down the capital plan, the MTA will need to issue debt, and sooner than planned. It will be issued under the MTA's transportation revenue credit rather than its congestion pricing credit, so near-term debt service costs will be higher, CEO Janno Lieber said.

The use of unregistered municipal advisors in the public-private partnership sector can lead to unnecessarily expensive deals for cities and states, said SEC's Dave Sanchez.

Her abrupt suspension of the tolling plan for Lower Manhattan leaves a $15 billion hole in the Metropolitan Transportation Authority's capital budget.

Cities and states should carefully review the joint federal proposal and flag anything that may create a market problem, said the SEC's Dave Sanchez.

A preliminary forecast showed the school's days cash on hand falling below the Board of Regents' 140 days minimum requirement for a third straight fiscal year.

"The shortage of accountants is not a brand new-issue, but it seems to be more thematic this year," said Richard Ciccarone, president emeritus of Merritt Research Services.

Legislative leaders want the Super Bowl-winning Kansas City Chiefs to weigh in on a plan to use bonds for a new stadium on their side of the state line.

It is not clear how the Metropolitan Transportation Authority would fund its capital plan if the governor puts the brakes on the toll plan for lower Manhattan.

It's one of the most controversial uses of tax-exempt debt, but repeated legislative efforts to eliminate it have failed.

The project will expand the plant's capacity from 75 million gallons per day currently to 100 million gallons to serve a growing population.

The lawsuit filed in 2017 points to funding disparities when public school districts turn to local property taxes and bond issuance for capital funding.

Recognizing the formidable construction challenges, the White House has created a Nuclear Power Project Management and Delivery working group "to help identify opportunities to proactively mitigate sources of cost and schedule overrun risk."

Source: LSEG

BofA Securities led the underwriting of healthcare issuance in 2023, with $3.3549 billion in total.

Healthcare issuance in 2023 was lower than usual, as many issuers were still using COVID-related federal aid. The largest issuances came from the Massachusetts Development Finance Agency.

While particpants expect some pressure in the near-term with more than $16 billion on tap, they also say the current yield and ratio levels offer investors opportunity.