Bonds

California hospitals will get no extra time to retrofit hospitals against earthquakes after Gov. Gavin Newsom vetoed a bill that would have given them some breathing room. Senate Bill 1432 was approved by lawmakers with unanimous votes in both houses in August. Newsom announced his veto Sept. 12. Under existing regulations, hospitals will be forced

The Louisiana Bond Commission approved the sale of $620 million in aviation revenue bonds and $220 million in sales tax bonds and modified conditions for up to $1 billion in gas and fuels tax bonds it previously authorized. The commission consented to the sale of up to $575 million in general airport revenue refunding bonds

Georgia’s weakening economy and the long-run impact of recent tax cuts are concerns, credit analysts say, albeit ones the state’s triple-A bond ratings may ride out successfully. The state’s unemployment rate has gone up for four consecutive months, according to the U.S. Bureau of Labor Statistics. The GOP-dominated state government has been cutting the top

Dan Callahan joined UMB Bank’s capital markets division as a senior vice president and public finance banker, the bank announced last week. Based in Austin, Callahan will oversee sales and business development, focusing on “UMB’s continued growth in the Texas municipal market through enhanced offerings in school municipal financing that will deliver sustainable results for

A Missouri government is the latest to offer government support — funded through municipal bonds —to revive a moribund mall.  But developer River City Centre’s plan for West Park Mall in Cape Girardeau, a city of 40,500 along Interstate 55 about midway between St. Louis and Memphis, breaks with the current trend of converting malls

Bond-financed redevelopment underpins Kansas City, Missouri’s plan to tackle decades-old blight and environmental issues that go back further in the Historic Northeast neighborhood. Clay County Commissioner Scott Wagner, previously a Kansas City councilman, told The Bond Buyer that “just the sheer magnitude” of this redevelopment project presented a challenge, but it stands a chance of

The municipal bond market will be showered this week with nearly $2 billion of triple-A-rated debt from water agencies in Southwest states facing drought and other climate issues. The Texas Water Development Board tops the week’s issuance calendar with $1.6 billion of State Water Implementation Revenue Fund for Texas master trust bonds to finance local

Municipals were steady to start the week while the focus moved to the hefty primary slate as several deals priced bonds for retail to good demand. U.S. Treasuries were slightly weaker and equities closed the session in the black. The two-year muni-to-Treasury ratio Monday was at 64%, the three-year at 66%, the five-year at 66%,

Enjoy complimentary access to top ideas and insights — selected by our editors. The top five bond financings in the ranking came in at more than $8 billion. The top 20 bond financings have a cumulative amount of more than $20 billion. Total issuance in August hit a record at nearly $50 billion. Scroll through

The enthusiasm of Buffalo Bills fans is well-known. Erie County wants to see how much that enthusiasm is worth. The county will price $110 million of general obligation bonds for a new Bills stadium this week, with a heavily publicized retail order period. The results will test whether the fans known for pre-game table-smashing contests

The death knell isn’t ringing for the tax exemption on municipal bonds, according to a panel at the National Association of Bond Lawyers conference, at least not yet — although the panel suggested the industry remind lawmakers of the role bonds play in their communities. The exemption remains an issue as policymakers will need to

Federal Reserve Board Governor Michelle Bowman.Julia Nikhinson/Bloomberg The Federal Reserve cited slower price growth and a softer labor market in its decision to lower interest rates by a half percentage point this week, but one policymaker sees those trends differently.  Fed Gov. Michelle Bowman voted against the decision Wednesday, noting that she would have preferred

Despite the pressure on U.S. Treasuries this week following the Federal Reserve’s 50 basis point rate cut, municipals closed out the week on track to post positive returns for the fourth consecutive month, the first time since 2021. Triple-A municipal yield curves were lightly traded and little changed while Treasuries saw small improvements for the

Tampa, Florida’s sales and utility tax bonds were upgraded to Aa1 from Aa3 by Moody’s Ratings and the outlook is stable. The upgrade affects Series 2016 and 2020 sales tax refunding and improvement bonds and Series 2012A and C utilities tax and Series 2010A & B utility tax revenue bonds. “That’s great news, and it

The Sacramento County, California, Airport System plans to come to market with $478 million of revenue bonds Tuesday into a packed primary calendar that includes two other airport bond sales. Chris Wimsatt, Sacramento International Airport’s deputy director of finance, isn’t worried about competition from the other airport deals, because the debt will not be subject

Municipals were steady to weaker in spots Thursday, as U.S. Treasury yields rose five years and out and equities rallied. The two-year muni-to-Treasury ratio Thursday was at 64%, the three-year at 66%, the five-year at 66%, the 10-year at 70% and the 30-year at 86%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read.

The University of the Arts, a private college in Philadelphia that abruptly closed its doors in June, filed for bankruptcy Friday, two weeks after it faced a demand by its bondholders for immediate repayment of more than $50 million in debt.  The school listed assets and liabilities of $50 million to $100 million, in a

The Empire State Development Corp. is set to sell $335.7 million of state sales tax revenue bonds on Thursday. The competitive deal is the only sizable offering from a New York state issuer on this week’s calendar, a contrast to the billion-dollar deals the state’s issuers have sold in recent months.  It was a week

Franklin County, Ohio, will issue $138.2 million of lease revenue anticipation refunding bonds through the Franklin County Convention Facilities Authority to refund or redeem outstanding Build America Bonds. The proceeds of the Series 2024 refunding bonds will also be used to consolidate the existing rental reserve and debt service reserve fund into a restructured rental

Municipals were steady to slightly firmer in spots with several large new-issues pricing in the primary as U.S. Treasury yields fell and equities were mixed as market participants await the FOMC rate decision Wednesday. “It’s all but a sure thing that the Fed will cut this week, but by how much is still up for