Refunding bonds

Members of the Public Finance Network sent a letter to Congress urging restoration of advance refunding for tax-exempt bonds.

The city is pricing the bonds the week of Feb. 10 for an anticipated $7 million in savings, according to city debt manager Betsy Hruby.

While munis are a focus in the infrastructure proposal, the likelihood of coming to fruition is debatable.

House Democrats want restoration of Build America Bonds and advance refunding for municipal bonds to be key parts of their infrastructure plan.

The $760 billion, 5-year plan also calls for expanding qualified private activity bonds, reinstating tax credit bonds, and more bond-friendly provisions.

The deal comes as the state's transportation plans will shift to rely more on cash than on commission borrowing going forward.

The state sold tax-exempt refunding debt at 2019 rates but won't deliver them until 2021 when the call date of the original bonds is reached.

The high-demand market environment boosted Philadelphia’s first general obligation bond deal of 2020.

Chicago’s $1.5 billion sale of general obligation refunding bonds and Sales Tax Securitization Corp. debt generated $310 million of budget savings.

Wisconsin's latest and historical financials, ratings, offering statements, and contacts are now available at Wisconsinbonds.com