Munis

A freighter struck the bridge early Tuesday morning, toppling the 47 year-old structure and creating both a human tragedy and an infrastructure challenge.

IDEA Public Schools maintained its A-minus rating with a negative outlook after a settlement was reached putting the charter school system under increased state oversight.

Gov. Spencer Cox wrapped up action on hundreds of bills passed by lawmakers, including measures to boost or limit bond issuance and potentially put some outstanding debt at risk.

"What we're doing is just being prudent managing the risk," said Metropolitan Transportation Authority Chief Financial Officer Kevin Willens.

The Washington refunding deal is built on an extraordinary optional redemption of Build America Bonds despite criticism from investors who hold them.

The Intermountain Power Agency has warned that the measure, which is aimed at preserving the state's largest coal-fired power plant, poses risks to its bond-financed transition to cleaner fuels.

The extraordinary redemptions being used to call Build America Bonds "are based on a creative but flawed legal argument driven by the current change in interest rates," said Kramer Levin partner Amy Caton.

Citi's exit comes amid the larger trend of broker-dealers downsizing balance sheets, which can hurt secondary market liquidity, particularly in times of stress. Other market players are coming into the fold.

The payout represents the maximum percentage a whistleblower can receive under the False Claims Act in Illinois.

This spring brings a bevy of school referendums in the Midwest. With inflation and property tax fatigue, voters may be increasingly reluctant to say yes.

The Fortress Investment Group-backed Brightline now anticipates carrying 4.9 million passengers between Miami and the Orlando airport.

The traditional tax exemption "does take some of the volatility out," said Mark Ritacco, chief government affairs officer for the National Association of Counties.

The state Supreme Court ruled that prevailing wage rules for public projects don't apply to private entities that borrow using tax-exempt conduit bonds.

The $650 million settlement will fund back pay for firefighters, who will also get future wage hikes.

"Insurance rationing by the leading insurers is becoming the mechanism by which climate risk is starting to impact municipal issuers," said Triet Nguyen, vice president of strategic data operations at DPC Data.

Gov. Tina Kotek sent a letter to transportation commissioners asking them to scrap a tolling plan for Portland-area highways that was seven years in the making.

Under a settlement agreement, the Texas Education Agency assigned two conservators to oversee IDEA Public Schools, which was the target of a probe into alleged financial and operational improprieties.

While the SEC's cybersecurity rule does not apply to municipal issuers, there are a few points discussed in the Adopting Release that may be useful for municipal market participants. 

The state's transportation department plans to sell $200 million of highway fund revenue bonds this summer for its Eisenhower Legacy Transportation Program.

The American High-Speed Rail Act has seen "some initial interest from Republican lawmakers – I'm working hard to get them on board too," said bill sponsor Rep. Seth Moulton, D-Mass.