Bonds

A California Senate committee received few details from the department charged with building a public broadband program on its plans to expand into underserved neighborhoods. The program faced criticism last year for prioritizing upscale cities, like Beverly Hills, over impoverished and middle-class areas, such as Los Angeles’ South Central region and Oakland, communities lacking in
States are casting around for solutions to a drop in gas tax revenues which includes hiked registration fees and the expansion of toll roads, which remains politically sensitive.  “Various projections from state DOTs, think tanks, and economists show that gas tax revenue, which is the largest source of revenue for state transportation trust funds, is
Wood-pellet manufacturer Enviva Inc.’s bankruptcy has pushed $353 million of municipal bonds along with a wider $2.6 billion pot of debt into a Chapter 11 corporate reorganization. The municipal bonds are the $252 million in outstanding Series 2022 Industrial Development Authority of Sumter County Exempt Facilities revenue bonds in Alabama and $101 million in outstanding
Texas Capital is starting a public finance business in Texas, hiring a former UBS Financial Services investment banker, the company announced Wednesday. The move by the Dallas-based financial services firm comes as the ranks of underwriters in Texas have thinned under state laws that prohibit contracts with companies that “boycott” or “discriminate” against the fossil
How much the federal government can contribute to rebuilding the originally bond-financed Francis Scott Key Bridge is now a concern for the House Committee on Transportation and Infrastructure.  “Hours after the collapse, President Biden announced his intention for the federal government to pay for the entire cost of reconstructing the Key Bridge,” said Committee Chair
The Colorado Legislature ended its session last week after passing a fiscal 2025 budget, school funding changes, a property tax cut, and measures aimed at pushing multi-billion-dollar passenger rail projects and a bond-financed purchase of an historic hotel forward.  State officials celebrated a legislative session Senate President Steve Fenberg called “nothing short of transformational” at
Current strategies to deploy public and private capital toward a green energy transition are experiencing mixed success, amid conflicting trends as both global oil demand and clean energy deployment rates rise together, according to panelists at the Milken Institute’s Global conference this week in Beverly Hills. “As many folks know, we aren’t doing that well
The Virginia General Assembly is set to pass a new budget next week after a saga that saw the state’s Republican governor and the Democratically controlled legislature clash over environmental issues, school funding, and pay-fors.     Although the budget deal still needs to be officially approved during the special session that begins Monday, Gov. Glenn
While federal efforts to forgive student loans generate headlines and lawsuits, some states and municipalities are tying bond-financed mortgage programs to student loan forgiveness to boost home ownership.   “The Maryland SmartBuy program is designed to help first-time home buyers who have student loan obligations qualify for acquisition financing under the Maryland Mortgage Program,” said Sergei
A House Budget Committee hearing on Wednesday drew out two sides of thinking during a debate on the economic effects of immigration as the Republican majority hammered away on the costs. “The Federation for American Immigration Reform has done a great job,” said Committee Chairman, Jodey Arrington R- Texas. ”Studies suggest this cost is upwards of $400
The California Supreme Court heard arguments Wednesday in a case brought by the state’s Democratic leaders that would block a sweeping anti-tax measure from November’s ballot. The initiative, called the Taxpayer Protection and Government Accountability Act (TPA), would amend the California constitutional rules governing how the state and local governments can impose taxes, fees and
Lawmakers in the Illinois General Assembly have proposed legislation to abolish the multiple service boards operating public transit in the Chicago area and consolidate them under a new Metropolitan Mobility Authority. At present, the Regional Transportation Authority oversees finances, funding and planning for the Chicago Transit Authority, which provides local rail and bus service in
Although New York Federal Reserve Bank President John Williams didn’t shed much light on the timing of federal interest rate cuts during a fireside chat at Milken Institute’s Global conference in Beverly Hills on Monday, he did offer some insight into his thinking. Amid stubbornly high inflation, the Federal Reserve reiterated in its post-meeting statement
Illinois will issue $1.8 billion of general obligation bonds — $250 million taxable Series 2024A and $1.55 billion tax-exempt Series 2024B — to fund accelerated pension benefit payments and capital expenditures through the Rebuild Illinois program.  The fixed-rate bonds are expected to price this week. Jefferies, Siebert Williams Shank and Barclays are joint senior managers