Public finance

The Austin City Council voted Thursday to issue $470 million in debt to purchase an East Texas biomass power plant that has only one customer, the city itself.

In the week ended May 9, the weekly average yield to maturity of the Bond Buyer Municipal Bond Index, which is based on 40 long-term bond prices, fell to 3.78% from 3.82% the previous week.

Gov. J.B. Pritzker's about-face on re-amortizing to reduce next year's pension contribution is one less negative rating factor, agency analysts said.

The anticipated surplus for fiscal years 2019 through 2013 has dropped to $11.6 billion from $15.1 billion, leaving less money for debt service and capital spending.

Transportation issues took center stage in the muni market on Thursday.

The bond package includes $50 million for affordable housing in a first for the Ohio capital.

Scarce high-yield supply is creating challenges for muni fund managers.

Airports have been clamoring for an increase in the PFC limit for years, arguing that they need it to help finance capital improvements that would be paid for with new bond issues.

Congress’ capacity and willingness to spend anything significant on infrastructure is severely hampered by the already-massive size of the federal debt.

The urgent need to repair and upgrade the housing stock may offset leeriness over private development.

Resilience financing expert Alan Rubin of Blank Rome explores this new dynamic and its role in the public finance market. Paul Burton hosts.

The plan continues a cut to the pension system found in earlier versions.

Municipal bond buyers saw more deals come to market on Wednesday as muni yields held in at lower levels.

The current volume cap on PABs issued for highways and freight improvement has just over $2.5 billion remaining that can be authorized by the U.S. Department of Transportation.

Five companies responded to a request for “expressions of interest” in building three prisons amid federal scrutiny of conditions in the prison system.

The state's municipalities generally enjoy high bond ratings. Whether they can sustain them in bad times is still up for question.

Council Speaker Corey Johnson hints budget talks will go down to the wire.

The Pritzker administration says it can now afford to make the full originally scheduled pension contribution without re-amortizing the funding timetable.

New expectations for disaster funding, gross national product growth rates, and population may change projections of money for debt.

Municipal bond buyers saw several large competitive deals come to market on Tuesday.