Natural disasters

"We're going to be opportunistic based on what the market conditions are and what the interest rate environment is," said Ben Watkins, director of the Florida Division of Bond Finance. "We like to be like Boy Scouts — we always want to be prepared."

The Senate Committee on Transportation, Housing and Urban Development convened Tuesday to discuss the imminent need for permanent reauthorization of the Community Development Block Grant - Disaster Relief.

As the program inches through the federal appropriation process, Texas lawmakers have allocated state funds and created a five-county district with taxing power.

Hawaii Gov. Josh Green gave an update Friday on how the state and Maui are faring a month after fires decimated West Maui and razed the town of Lahaina.

While congressional leaders fight over what to include with the $12 billion slated for FEMA, others feel that the reliance on FEMA and the federal government for disaster relief may begin to change.

Sunday is the mid-point of the 2023 Atlantic hurricane season. AccuWeather expects at least one or two more tropical storms or hurricanes to hit hit the U.S.

While Idalia caused major damage to some municipalities, it had less of an impact than feared since it hit less densely populated areas than Hurricane Ian did last year.

Moody's credited generally sound fiscal practices, good governance and federal aid with the likelihood that Maui County and the state would retain their current credit ratings.

Andy DeVries of CreditSights is fairly optimistic about the eventual outcome for bondholders, though its tax-exempt paper has been trading at a discount.

The disaster in Hawaii highlights the increasing importance of Congress to act on the dwindling budget of FEMA's Disaster Relief Fund.

The investor-owned utility issues tax-exempt bonds through the Hawaii Department of Budget and Finance.

The coastal town of Lahaina is "gone," Hawaii Gov. Josh Green said during a press conference.

"The main climate factors expected to influence the 2023 Atlantic hurricane activity are the ongoing El Nino and the warm phase of the Atlantic Multi-Decadal Oscillation, including record-warm Atlantic sea surface temperatures," said NOAA's Matthew Rosencrans.

Extreme temperatures affecting much of the United States add an additional challenge to hospitals still reeling from the pandemic.

New York State Comptroller Thomas DiNapoli urged state agencies to do more to protect water systems from cyberattacks as Moody's Investors Service said cyber risks pose challenges to municipalities across the United States.

The Florida Insurance Guaranty Association is getting ready to head back to the market next week with a variable-rate bond deal after successfully selling fixed-rate bonds last week to help fund claims from insolvent insurance companies.

California filed a disclosure notice March 30 saying it would cover lease revenue bond payments for a damaged Central Valley agriculture lab.

The Tulare lab is not required to make lease payments that pay the debt if the building is rendered inoperable.

Toks Omishakin's second year as State Transportation Agency secretary is off to a challenging start between massive rainfalls and proposed budget cuts.

Among the special session charges: "Improve the financial stability of the Citizens Property Insurance Corporation," Florida's bond-funded insurer of last resort.