Refunding bonds

Kalotay faults the Municipal Securities Rulemaking Board and U.S. Securities and Exchange Commission for not requiring training in options-based analytics as part of their certification of municipal advisor representatives.

A large share of the refundings that saved the city hundreds of millions of dollars wouldn't be possible now that advance refundings are eliminated, a city official said.

Bond proceeds, approved in a 2016 measure, will be used for programs to aid homeless people.

The junk-rated city is eyeing a return to market without a state backstop, but there is no timeline.

The city will decide whether to apply the designation to an upcoming deal to fund housing for homeless people.

The $139 million refunding saved Alabama’s most populous county $12.35 million in debt-service costs.

Material improvements in spending flexibility led Fitch to give Alabama’s most populous county a two-notch upgrade.

The IRS is focusing on $435.2 million of Series 2014A senior lien revenue refunding bonds and $75.87 million of Series 2014C second lien revenue refunding bonds.

Local, county and state officials said they took initial steps Wednesday in what will become a much larger contingent of elected officials who will jawbone their federal counterparts with testimonials about the cost savings attributable to advance refundings.

Reinstatement of advance refundings could be packaged with infrastructure legislation because many state and local governments have used the savings to finance new infrastructure.