Public finance

The U.S. Senate has until July 14 to act.

More municipalities are turning to local solutions, including P3s and value capture structures.

Citing new uncertainties surrounding revenue credits, Moody's downgraded the Illinois State Toll Highway Authority ahead of a $300 million deal.

A proposal to establish such a fund, as opposed to the current mechanism for reserves, is headed for the November ballot.

A surging population and a healthy economy kept local governments riding high in sales tax revenue for the first half of the year.

The Federal Open Market Committee is meeting this week and the muni market is looking for rate cut signals.

The junk-rated district's latest cash flow issue was nearly eight times oversubscribed as it trimmed rates substantially from previous sales.

Traders are now pricing in a more than 80% chance of a rate cut in July.

The health system is coming to market Tuesday with a $637 million new money and refunding sale.

Build America Mutual announced that it has been accepted as a member of the Federal Home Loan Bank of New York, becoming the first municipal bond insurer to join the system.

The overall recovery would be in the 36% to 38% range under its restructuring plan for $35 billion in bonds.

The FY 2020 budget adds $250 million in new reserves to the executive budget Mayor Bill de Blasio presented in April.

The water district in Washington County, Utah, is driving a plan estimated at up to $1.8 billion to bring water 140 miles from Lake Powell.

Another big week lies in store for the municipal bond market, with a variety of big name issuers ready to sell bonds.

Moody's is bullish on the state's budget and capital bills, less so on gambling expansion and recreational marijuana

Bids opened Thursday for construction of a new downtown Terre Haute Convention Center appear to be below an overall project estimate.

The PRIDCO deal would be the fifth restructuring proposed or consummated under the Puerto Rico Oversight, Management, and Economic Stability Act of 2016.

The agreement “would increase prices by up to 21%” and it’s “highly unlikely PREPA will be able to completely offset the legacy debt charges,” resulting in “considerably higher electricity rates for decades to come,” said the letter signed by four senators and 32 House members.

Karen Freeman-Wilson says without the bond deal to leverage the city's public safety building, Gary will end the fiscal year $42.5 million in the red.

A tighter cap on local property tax rates for some cities and counties will factor negatively into future bond ratings, analysts warn.