The Texas Water Development Board recently approved an up to $1.8 billion State Water Implementation Revenue Fund for Texas (SWIRFT) bond issue on Tuesday, as well as nearly $3 billion in requests to use the fund to finance local water projects. This includes projects such as seawater desalination in Corpus Christie and a reservoir and
Bonds
Tejon Ranch, the largest private land in California, is embarking on a significant expansion of its commercial center located approximately 83 miles north of downtown Los Angeles. With plans to issue $61.6 million in municipal bonds, the Tejon Ranch Commerce Center aims to more than double its size to accommodate the growing demand for commercial
The recent sale of $1.2 billion of revenue bonds by the Dormitory Authority of the State of New York (DASNY) received good demand and tighter spreads compared to a previous negotiated deal. According to DASNY spokesperson Jeffrey Gordon, the bond sale was a success due to a calm market and robust demand for highly rated
The influence of single-party dominance in a state on local governments and the municipal bond market has been a subject of interest and debate among researchers and analysts. Recent findings suggest that there are modest yet measurable savings for local governments and lower yields in the secondary municipal bond market when one party controls both
The municipal market has been experiencing relatively stable conditions, with some fluctuations in bond yields. The primary market has been active, particularly with large issuances from entities such as the New York City Transitional Finance Authority and the Regents of the University of California. The market has also seen inflows to municipal bond mutual funds
Phoenix is returning to the municipal market this week after a 12-year hiatus with a new money general obligation bond issue. This significant move marks the city’s first GO bond election since 2006. The issuance intends to support various public projects, including public safety, street maintenance, libraries, and parks, among others. The city’s Chief Financial
The recent rejection by the North Carolina Local Government Commission of Cabarrus County’s request for bonds totaling $228 million has raised several concerns and highlighted the challenges faced by the county in securing financial approvals. Despite the panel’s staff recommending approval, some members on the board expressed reservations about the proposed bonds and suggested that
The recent battering of parts of Texas by Hurricane Beryl has not deterred the upcoming bond pricing for Galveston Wharves. Despite the operational interruption caused by the storm, the port announced that the $160 million revenue bond sale will proceed as planned. It is commendable to see how strong and resilient the port is, as
The Washington Metropolitan Area Transit Authority (WMATA) is preparing to issue $625.4 million in second lien dedicated revenue bonds, and there is optimism that the market will respond positively to this offering. The bonds are anticipated to attract interest from local buyers in D.C., Maryland, and Virginia due to the exemption of interest in these
As we assess the current state of the municipal bond market, it is evident that there is a certain level of firmness present. This can be attributed to the decline in U.S. Treasury yields, coupled with the mixed performance of equities. Despite these factors, the release of the Federal Open Market Committee meeting minutes highlighted