Bonds

Kentucky and Indiana are lobbying for federal funds to cover half the cost of a bistate Ohio River bridge that would connect the Interstate-69 national trade corridor. The I-69 Ohio River Crossing is more than 20 years in the planning and in the end will feature a four-lane, tolled bridge carrying I-69 from southern Indiana to northern

Maryland will wager on federal funds for a massive and controversial project to ease congestion around the American Legion Bridge that was previously structured as the largest public-private partnership in the U.S. Maryland Gov. Wes Moore Monday made his first public comments on the project since the state’s private partner Transurban Transurban announced in March

Vermont launched part one of a two-part general obligation bond sale this week with a competitive auction of $61.2 million of new money bonds. That will be followed with a $53.5 million GO refunding that is expected to price by negotiation Thursday. The competitive bid was won by BofA Securities, according to Refinitiv TM3. The

Michigan plans to price $1.182 billion of state trunk line fund bonds Tuesday. The deal, part of the Rebuilding Michigan road program, will fund the reconstruction of several major highways and other infrastructure projects in the state. It’s hitting the market nine months later than the state initially planned.  The deal received an Aa2 rating

The Inflation Reduction Act’s tax credits have the potential to transform the energy market, and in drafting best practices, the Department of Treasury and Internal Revenue Service should consider the compliance burdens, added premiums and easing the excessive payments statute for state and local governments.  That’s according to Emily Brock, director of the federal liaison

The inaugural sale of a California Housing Finance Agency credit that pools multifamily housing loans received a welcome reception from the market. It was the first time in nearly a decade that CalHFA has sold bonds under a party indenture for a pool of multifamily permanent loans, and as “a new California credit, the bonds

Illinois urged a Cook County court to approve a proposed settlement with a group of Wall Street banks accused of rigging variable-rate bond interest rates despite opposition from the whistleblower that brought the case, arguing the evidence backing up the lawsuit has proved meager. The deal between the state and the eight banks calls for

California Gov. Gavin Newsom’s newest policy thrust to reduce homelessness by improving mental health services — including a proposed $4.5 billion bond to add psychiatric beds — is likely to get some pushback from county governments. An analysis from the Legislative Analyst’s Office estimates that Newsom’s overhaul of the state’s behavioral and mental health system

Annual tax revenue collection in Massachusetts fell by 4.7% in fiscal year 2023, the State Department of Revenue announced in its yearly report released Friday. The state collected $39.2 billion in fiscal 2023, $1.94 billion less than in fiscal 2022 and 1.5% below the state’s set benchmark, the report said. Officials attributed the year-over-year dip

Connecticut officials say a debt service reserve fund insurance policy allowed them to fund the state’s new baby bond trust without resorting to borrowing. Since July 1 newborns birthed under Connecticut’s Medicaid program, Husky, have been automatically enrolled in CT Baby Bonds and credited with $3,200 deposit that will be invested on their behalf. Between

California is following other states in a push to snare federal infrastructure money to develop the state’s hydrogen market. Gov. Gavin Newsom announced on Tuesday that he has directed the Governor’s Office of Business and Economic Development, more commonly known as GO-Biz, to develop a hydrogen market development strategy for the state, employing an all-of-government

A Chapter 11 bankruptcy involving a bond-financed Arizona participant sports venue will continue to move forward in an effort to sell the property after a federal court judge denied a motion to appoint an independent trustee for the debtor or dismiss the case. Judge Daniel Collins’ Wednesday order acknowledged disputed allegations of mismanagement and infractions

An Iowa hospital filed for Chapter 11 bankruptcy this week, blocking a move by its largest bondholder to seek a court-appointed receiver and the immediate payment of principal and interest.  Monday’s filing by Mercy Hospital in U.S. Bankruptcy Court for the Northern District of Iowa stays the receivership case brought by the bond trustee Computershare

Federal Reserve Bank of Richmond President Thomas Barkin said the greater-than-expected easing in inflation in June may be an indication that the U.S. economy can have a “soft landing,” returning to price stability without a damaging recession. “There is still a plausible story that inflation normalizes in short order and the economy dodges additional trauma,”

Louisiana has tapped a consortium led by Plenary Americas as the private sector partner to negotiate a 50-year public-private partnership to replace the aging Calcasieu River bridge on Interstate 10. Calcasieu Bridge Partners is a joint venture of Plenary Americas US Holdings, Inc., which holds a 40% equity stake, and Sacyr Infrastructure USA LLC, and

The Oklahoma Turnpike Authority triumphed in a hard-fought battle over the issuance of initial debt to finance a $5 billion expansion project, with the state Supreme Court Tuesday validating the bonds. In a 6-3 decision, the high court approved $500 million of second senior lien revenue bonds, rejecting arguments OTA lacks legislative authorization to build

Financial woes at an Iowa hospital led a major bondholder and a bond trustee to state court seeking the appointment of a receiver for the facility, while they demand the immediate payment of principal and interest in the wake of default events. The move comes as hospitals nationwide face persistent pressures as they slowly recover

The Federal Reserve said that banks reported tighter standards and continued weak demand for loans in the second quarter, extending a trend that began before recent stresses in the banking sector emerged. The proportion of U.S. banks tightening terms on commercial and industrial loans for medium and large businesses rose to 50.8%, up from 46%

Federal Reserve Bank of Chicago President Austan Goolsbee said data showing slower U.S. inflation is “fabulous news” but he hasn’t yet decided on whether to support pausing interest-rate increases at the next policy meeting. “I haven’t made up my mind for what should happen in September,” Goolsbee said Monday in an interview on Yahoo! Finance.

Blake Washington was appointed Thursday to be New York’s budget director. Washington, secretary to the New York State Assembly Ways and Means Committee, where he advises the Speaker and Assembly members on all budget and fiscal matters, was chosen for the post by New York Gov. Kathy Hochul. “With years of public service and a deep