Public finance

The agency is refunding $104.5 million of Federal Transit Administration section 5307 bonds and $23 million of FTA section 5337 bonds.

Grace Dunlap, Chair of the Board at Bryant Miller Olive P.A., has been honored with the 2020 Ralph A. Marsicano Award presented by the City, County and Local Government Law section of the Florida Bar.

The environmental impact ruling and record of decision are a major milestone for the multibillion-dollar Gateway infrastructure project.

The board plans to pick an operator for PREPA's electrical generation in second half of this year.

Even with a 23.3% year-over-year drop in May, with five months now officially in the books, long-term muni volume stands at $169.45 billion, ahead of the $157.96 billion issued in 2020.

The fundamentals of the muni market have investors stuck in a low-rate environment without much of an alternative. Refinitiv Lipper reported $1.466 billion of inflows into municipal bond mutual funds with $813.8 million into high-yield.

U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley described the proposal as “a good faith offer and a significant step in the right direction.”

Given that subway safety concerns could impair a rebound from COVID-19, recent spikes in crime and levels of policing triggered spirited discussion at a board meeting.

The state's momentum with rating agencies continued when Fitch elevated its special tax obligation bonds to AA-minus.

A reported preliminary 25.8% drop in May issuance shows how strong fund inflows, improving credit and the reopening of governments are keeping the muni market issuer friendly.

The Detroit Financial Review Commission votes in June on a fourth one-year waiver that allows the city to manage its finances independently.

The Board will address several of Puerto Rico's authorities' fiscal plans and will have an update about PREPA's transition of its systems to the private operator, LUMA Energy.

The $304.5 billion highway section might pave the way for further bipartisan agreement on a wide-ranging infrastructure package.

Triple-A municipal benchmark yield curves were bumped one to two basis points, lagging a four basis point rally in U.S. Treasuries after weaker consumer sentiment and dovish comments from Fed officials moved equities lower.

While Jacques Jiha cited improved outlooks to stable from Moody's and S&P, skeptics warned of inadequate use of federal aid and lingering outyear budget gaps.

Eli Dvorkin of the Center for an Urban Future suggests how New York City can save millions by improving its capital construction process. He also examines the city's tech growth. Paul Burton hosts. (23 minutes)

Municipals saw little activity on Monday as the market prepped for the bulk of the week's $7B primary calendar arriving Tuesday and Wednesday.

Low interest rates, looming CalPERS amortization changes and pandemic-related budget hits were cited as factors in the record year for California POB deals.

The Senate highway bill proposes a national pilot program for a motor vehicle per-mile user fee.

Oklahoma can cut taxes and boost school funding while expanding Medicaid coverage thanks to healthy revenues.