In his role as governor of Minnesota, Tim Walz has put forward ambitious proposals for infrastructure investments, including a $3.3 billion bonding bill and a $1 billion infrastructure package. These proposals were aimed at addressing a range of issues, from infrastructure asset preservation to housing and combatting homelessness. However, despite their progressive nature, these proposals
Politics
The recent decision by the North Carolina Local Government Commission to approve Cabarrus County’s request to sell $186 million of bonds has sparked controversy within the state. Despite a previous rejection of the county’s bond request in July, the commission reversed course and voted seven-to-one in favor of the issuance. This decision has raised concerns
Last week, Congressional Republicans escalated the ongoing partisan battle over environmental, social, and governance (ESG) investment policies. The House Republican ESG Working Group released a report titled “The Failure of ESG: An Examination of Environmental, Social and Governance Factors in the American Boardroom and Needed Reforms.” This move signifies a significant pushback against the increasing
In a landmark decision, the Tampa Bay Rays have finally received the green light from local governments to move forward with their ambitious plan to build a new government-subsidized ballpark in St. Petersburg, Florida. After months of negotiations and uncertainty, the Pinellas County Commission voted 5-to-2 in favor of committing a sizable amount of $312.5
New York City’s five pension funds saw a remarkable performance in the last fiscal year, surpassing their investment targets with a return of 10%. This success was largely driven by the exceptional performance of the U.S. stock market, particularly the S&P 500, which recorded a remarkable 22.7% return. With a combined asset value of $274
The League of California Cities will be hosting a webinar to provide guidance to potential applicants interested in accessing $3.3 billion in funding that has been expedited by the governor from a bond measure approved by voters in March. This funding, which is set to be released in August, is just the first portion of
The recent proposal by the Federal Deposit Insurance Corporation (FDIC) to replace CUSIP numbers with Financial Instrument Global Identifiers (FIGI) has sent shockwaves through the municipal bond market. This unexpected development has raised concerns among market participants about the potential implications of such a switch. According to Matthew Bastian, senior director at CUSIP Global Services,
The Louisiana Public Facilities Authority is set to price $1.33 billion in toll bonds next week, as part of a public-private partnership aimed at replacing the Calcasieu River Bridge. The bonds, rated Baa3, will be backed by toll revenues. The project, managed by JPMorgan and Wells Fargo, is structured as a design-build-finance-operate-maintain and will involve
As the implementation of the Bipartisan Infrastructure Law (BIL) unfolds, it is evident that the process of rebuilding America’s roads and bridges is being impeded by regulations and red tape. Despite the good intentions behind these rules, they have inadvertently slowed down the pace of infrastructure improvements. The complexity of the Build America, Buy America
The city of Gary, Indiana, is embarking on an ambitious revitalization effort that involves bond financing for several key projects. One of these projects includes the redevelopment of the Gary Metro Center station, as well as the construction of a convention center in Lake County. The partnership with Notre Dame’s School of Architecture through its