Public finance

Maine's tax collection season was better than expected, bucking expectations at the threat of looming recession, a state committee told lawmakers.

Public school districts account for most of the bonds on ballots as some need to finance new facilities to accommodate rising enrollment.

The Jacksonville office is the firm's first in Florida and 28th location in the United States.

The electric automaker was promised $15 billion of bond proceeds and other incentives to set up shop in Jasper County, Georgia. It can walk away from the state-backed deal up until Monday.

Technology is improving collection of the tax supporting COFINA bonds.

"Investors' jitters in the lead up to next week's Fed meeting resulted in some large macro market moves and a rise in volatility," noted BofA Securities strategists in a weekly report.

Indianapolis Public Schools wants $410 million for projects throughout the district with 23 schools in line for improvements.

It's one of four state cases accusing Wall Street banks of a "robo-resetting" scheme that kept interest on variable-rate debt artificially high.

The state's record per-pupil spending counteracts concerns over enrollment declines.

The authority will borrow to pay off its debt at about 50 cents on the dollar.

The House Appropriations Committee heard from tribal leaders about housing and transportation needs.

Total volume for the month was $30.599 billion in 577 issues, down from $40.423 billion in 900 issues a year earlier. Total issuance year-to-date is at $107.626 billion, falling 25.2% from the same period of 2022.

While fiscal 2023 and 2024 budgets remain balanced, outyear gaps increase to $4.2 billion, $6.0 billion and $7.0 billion in fiscal 2025 through 2027, respectively.

Almost a month late, the New York Senate and Assembly are expected to soon pass the $229 billion fiscal 2024 budget.

Outflows from municipal bond mutual funds receded as Refinitiv Lipper reported $92.055 million was pulled from them as of Wednesday after $2.876 billion of outflows the week prior. 

"Tenders are another tool in the toolbox, that depending on the situation and market dynamics, can be used to generate robust savings," Aaron Heintz said.

The Secure and Fair Enforcement (SAFE) Banking Act of 2023, introduced in both the House and Senate would allow regulated banks to work with state-legal cannabis companies.

Pandemic funding cuts may pop up in any of the four big-ticket, must-pass bills Congress will take up this year.

S&P signaled the next lift needed for Detroit to shed junk status is within reach — in the next one to two years — by assigning a positive outlook to the BB-plus rating.

A series of atmospheric rivers and cyclone bomb storms in California have resulted in billions in damage. Lawmakers look to bond measures to help prevent future problems.