Public finance

Chicago outgoing mayor offered a parting shot against pending state legislation that stands to add to city pension costs, but sponsors say the fix was promised and is needed to avoid violating federal rules.

Photos from The Bond Buyer's Texas Public Finance conference.

Nassau County is set to issue $269.54 million of general obligation bonds in two separate sales in the upcoming week.

Proceeds will be used to refund some bonds that had been issued to finance or refinance eligible clean water and drinking water projects in the state.

Even though yields have moved to higher ground, some participants say that even cheaper levels are needed to bring about more retail conviction. Muni-to-UST ratios are still rich.

The Florida Legislature has passed a law that bans the issuance of municipal bonds, such as green bonds that use environmental, social or governance criteria. The bill now heads to Gov. Ron DeSantis for his signature.

The legislation would give Puerto Rican voters the choice to become a state and Congress would be bound to accept.

A letter of credit would be used, in part, to help fund a settlement between WAPA and its fuel supplier Vitol.

The $7 billion portfolio consists of highly rated, lower-coupon muni debt. It is unlikely to be a single auction and the firm is currently circulating the list on the Street to gauge interest.

The top two municipal bond insurers wrapped $5.735 billion in the first quarter of 2023.

Secretary of Transportation Pete Buttigieg appeared before the House Appropriations Committee to warn of serious consequences of budget cuts.

Illinois' $2.5 billion transaction took center stage Wednesday as the state's first GOs to carry an A-level rating since 2016 still offers a healthy yield kick over the A and BBB benchmarks.

The $3.3 billion Transportation Modernization act allows for P3s for roadway development, a first for the state.

The taxable bonds would finance a bottling and other facilities, which would be leased to a private business.

The proposed budget would add 400 more police officers and spend $1.3 billion on programs to ease homelessness.

The Investment Company Institute reported investors added $229 million to mutual funds in the week ending April 12, after $83 million of outflows the previous week.

The FAA reauthorization bill is a big-ticket transportation item facing Congress this year.

James Pruskowski, a nearly 30-year veteran of BlackRock, will be CIO and head of business development for 16Rock Asset Management LLC, a newly formed affiliate of 16th Amendment Advisors LLC.

"Florida may have the statutory authority to abrogate an agreement, but  what does that say for things going forward?" asks Joseph Krist, publisher of Muni Credit News. "Why couldn't an anti-development administration do the same thing in reverse to somewhere like the Villages?"

The Oversight Board, the Fiscal Agency and Financial Advisory Authority, and fuel line lenders filed separate objections to the bondholders' request, arguing it would further complicate PREPA's plan of adjustment.