Munis

Municipalities are making draws on reserves as revenues fall due to the pandemic.

PABs represented 25.4% of all tax-exempt bonds issued in 2017, up from 21.5% in 2016.

The cities enter a primary municipal bond market prepared to absorb $9 billion of deals this week.

In secondary trading municipals ended weaker after a strong employment report.

The SEC has asked for more timely, voluntary disclosure from issuers of municipal bonds.

Orange County tourist tax collections plummeted 97% from the year earlier to $765,900 in April, the largest decline ever seen.

The University of California and California State University systems are better positioned than many higher education peers to face the impacts of COVID-19.

Bond lawyer Rebecca Lawrence has joined Ballard Spahr

The Wisconsin Center District deal provides some expansion financing and near-term debt relief after the agency was stung by lost conventions and tax revenue.

Members of both parties raised concerns that the requirements for participating in the Municipal Liquidity Facility and Main Street Lending Program are too restrictive to benefit smaller localities and certain midsize firms.

State and local governments have increasingly filed COVID-19-related disclosures to the market, but only about 931 issuers out of roughly 40,000 have filed over 1,500 material event notices and continuing disclosures since the pandemic began.

Robert Kelchen, a higher education finance professor at Seton Hall University, discusses near-term challenges facing U.S. colleges as they grapple with revenue hits from the COVID-19 pandemic. Andrew Coen hosts.

Bond volume was 4.2% lower than it was a year ago but increased from March and April’s low totals.

Gov. Phil Murphy’s $5 billion emergency bond plan to patch revenue gaps caused by the COVID-19 pandemic faces an uncertain future in the state legislature.

The South Carolina Legislature put in place strict oversight of the state-owned utility until they decide whether to sell it.

The bill was set aside as state lawmakers limit legislation to the issues of housing, wildfires and coronavirus. Meanwhile, more cities and counties issue POBs.

Without federal funding, many toll facilities will be forced to comply with bond covenant requirements, which could mean reductions in workforces and delays in capital projects, toll groups said.

Moody's Investors Service cut the Catholic college in New Jersey to Baa1 citing its rising debt burden.

The announcement comes at a pivotal time for the municipal market as the SEC released a statement earlier this month detailing the kinds of coronavirus disclosures municipalities should be making.

Clark Hill senior counsel Andrew Maher will serve a one-year term.