Trends in the Regions

While Kansas' sales tax and revenue (STAR) bond program recorded its first default late last year, Bonner Springs is considering using it for a development that includes a Mattel toy-themed amusement park.

New York City Municipal Water Authority returns to the municipal primary after a $1.4 billion deal earlier this year.

Municipal Market Analytics reports the most technical defaults in 2023 since it started tracking them, including 24 in the not-for-profit hospital sector.

Despite an S&P rating upgrade ahead of this week's GO bond deal, Louisiana paid a wider spread to a 10-year benchmark than it did a year ago. Longer maturities saw tighter spreads on from a year ago.

With cyberattacks on the rise, issuers have had to keep fortifying their defenses against criminals targeting the public sector. 

The state's transportation commission took action to end a comprehensive development agreement for a partially bond-financed toll lane project on State Highway 288.

New York State officials are unlikely to meet today's extended deadline for finalizing a fiscal 2025 budget and will probably push it back again.

The aim of the program was to create affordable moderate-income housing more quickly by acquiring existing apartment communities and converting the units to below-market-rate as existing tenants moved out.

"HB 727, if signed into law, should lower borrowing costs for Kentucky school districts and will serve as a critical tool in dealing with cost overruns and other inflationary pressures," said Compass Municipal Advisors.

"What we saw in 2023 was a large surge of issuers coming back into the single-family bond market," said Kurt van Kuller of Sit Investment Associates.

Austin Transit Partnership's ability under Texas law to seek expedited court validation for bonds to finance light rail is the subject of an April 25 hearing.

"Now that the first phase of Miami Worldcenter is complete and the second phase is underway, our team is issuing bonds backed by the TIF package, which will help defray the cost of the improvements made in the district," the development team said.

The University of Chicago's Harris School Policy Innovation Challenge is a "Shark Tank"-style competition in which eight teams took on Chicago's pension problem.

Gov. Spencer Cox wrapped up action on hundreds of bills passed by lawmakers, including measures to boost or limit bond issuance and potentially put some outstanding debt at risk.

"What we're doing is just being prudent managing the risk," said Metropolitan Transportation Authority Chief Financial Officer Kevin Willens.

The Washington refunding deal is built on an extraordinary optional redemption of Build America Bonds despite criticism from investors who hold them.

This spring brings a bevy of school referendums in the Midwest. With inflation and property tax fatigue, voters may be increasingly reluctant to say yes.

Laws banning banks from underwriting municipal bond deals because of their fossil fuel or firearm policies dramatically boosted underwriting spreads, a business group's study said.

The state Supreme Court ruled that prevailing wage rules for public projects don't apply to private entities that borrow using tax-exempt conduit bonds.

Gov. Tina Kotek sent a letter to transportation commissioners asking them to scrap a tolling plan for Portland-area highways that was seven years in the making.