Bonds

The Texas Water Development Board recently approved an up to $1.8 billion State Water Implementation Revenue Fund for Texas (SWIRFT) bond issue. This funding will be used to finance local water projects across the state, including seawater desalination in Corpus Christi and a reservoir and pump station expansion in Brazoria County. These projects are crucial
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Tejon Ranch, the largest privately owned piece of land in California, is looking to expand its commercial center by tapping into the municipal bond market for $61.6 million. The mixed-use property, spanning approximately 270,000 acres, has been a focal point of discussions regarding wildfires and urban sprawl in the region. The new financing aims to
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Single-party dominance in a state has been found to have an effect on local government savings and the yields in the secondary municipal bond market. The recent paper titled “State government trifectas and municipal bond pricing” presented at the Brookings Municipal Finance conference sheds light on this phenomenon. The study was conducted by Angela Gore,
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The municipal bonds market showed little change on Wednesday, with significant activity in the primary market. Notable issuances included $2.5 billion from the New York City Transitional Finance Authority and $1.3 billion from the Regents of the University of California. Despite U.S. Treasuries being slightly firmer and mixed equities towards the close, municipal bond ratios
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Phoenix is making a return to the municipal market after a 12-year hiatus with its first new money General Obligation bond issue. Kathleen Gitkin, the city’s chief financial officer, expressed high expectations for the $238.8 million tax-exempt and taxable deal set to price through a Piper Sandler-led underwriting team. The city plans to become a
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The North Carolina Local Government Commission recently denied Cabarrus County’s requests for bonds totaling $228 million, despite the staff recommending approval. This decision came after some members of the board expressed concerns that the bonds should be subject to a voter referendum before moving forward. Additionally, some commission members objected to the county’s use of
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Despite facing the wrath of Hurricane Beryl, Galveston Wharves is pushing forward with its $160 million revenue bond sale. The once-Category 5 storm may have caused operational interruptions, but the port is showcasing its resilience by continuing with its scheduled activities. Port director and CEO, Rodger Rees, highlighted the port’s strength by pointing out that
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