Refunding bonds

The authority reports $193 million of present value savings on a $651 million refunding.

The role of SLGS has been significantly diminished by the termination of advance refundings on Jan. 1, 2018, under the Tax Cuts and Jobs Act, with the amount of SLGS outstanding declining more than 49%.

The positive side is the bipartisan legislation for reinstatement introduced by 10 House lawmakers last week has a high possibility of being included in any infrastructure legislation that passes that chamber.

The orchestra received a first-time A rating from S&P Global Ratings ahead of its bond sale next week.

Municipal bond industry groups have been clamoring for advance refundings to be reintroduced as well as an expansion of PABs and direct-pay bonds.

The University of Texas System will bring $386.8 million of refunding bonds to market this week.

Fiona Ma has been pushing the state's bond team to explore refundings and to sell new money bonds while rates remain low.

Gary Community School Corp. in Indiana wants to test its access to the bond market with a $5 million bond refunding.

The audit concluded a year and one day after the sports authority received a letter dated April 4, 2018, informing it that the tax-exempt status of the bonds was being examined.

Midwest Fertilizer Co. announced Monday it has settled with the IRS Office of Appeals an audit that originally disqualified the tax-exempt status of $1.259 billion of refunding bonds that will be used to help finance a fertilizer plant in Posey County, Indiana.