Munis

Chicago's City Council on Wednesday approved the sale of $830 million of general obligation bonds that Mayor Brandon Johnson says will fund infrastructure improvements.

Volume in the Southeast was up 46% in 2024, led by Florida, where municipal bond sales more than doubled to $27.49 billion.

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

Legislation to continue a sales tax and revenue bond program until July 1, 2028, and allow its use for mall redevelopment projects, passed the Senate.

The House now needs to negotiate a final budget resolution with the Senate, whose leaders have said they want to make the TCJA permanent.

Midwest bond sale volume peaked in the third quarter of 2024.

The Pasadena Unified School District plans to eliminate 151 full-time employees, including 115 teachers, as it struggles with the fallout from the Eaton Fire.

Bond lawyers want to make sure their voices are heard as Congress moves toward critical votes on tax policy.

Issuers in the eight-state region sold $103.3 billion of bonds last year, with Texas deals accounting for $68.13 billion of the debt.

The unpredictable nature of legislating leads most to holding off on disclosure changes until a bill becomes a law.