Munis

A federal bankruptcy judge will hold a hearing later this month on appointing an independent trustee for Legacy Cares or dismissing the case.

Most top 10 issuers for 1H are from New York and California, with three from New York and three from California.

The Bond Markets and Racial Equity Project is an effort to center equity in municipal bond-funded investments.

The express train last week completed a long-awaited extension to the Orlando airport.

Charles Treece and Azer Akhtar in Washington, D.C., and Jennifer Santangelo in Philadelphia have become partners at Ballard Spahr.

The city would issue short-term debt this summer and refund it as part of a long-term bond offering next year.

Total volume for the month was $34.436 billion in 744 issues, down from $37.775 billion in 984 issues a year earlier, according to Refinitiv data.

The Board of Education approved a fiscal 2024 budget amid warnings about the need for more state help to manage a gap of up to $700 million in fiscal 2026.

"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.

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

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.

The Republican ESG bill calls for studies on key muni market issues, including bans on soliciting business, ESG disclosure and investment decisions by underfunded state and local pension plans.

The upgrades brought the Orange County Transportation Authority managed lanes toll credit to double-A levels across the board.

Market participants agree issuance will not hit the highs seen in 2020 and 2021, but they are split on whether issuance will surpass the $384.086 billion of debt issued in 2022.

The nonprofit, which provides low-interest loans to public charter schools, aims to offer another $3 billion in loans by 2030 and price more bonds in August.

The Illinois case is part of several state-level lawsuits brought by Minnesota-based municipal advisor Johan Rosenberg, accusing banks of conspiring to set the interest rates of state-issued VRDOs artificially high.

The Oklahoma Supreme Court is considering the turnpike's application to jumpstart funding for a $5 billion extension project with $500 million of revenue bonds.

States and local governments should prepare for fewer federal funds, higher borrowing costs and market volatility as a result of turmoil in Washington.

The controversial idea has taken on more urgency as transit agencies nationally struggle with low ridership.