Less than two years after selling $504.5 million of taxable pension bonds, Kansas is considering buying back a chunk of the debt from bondholders using surplus revenue. House Bill 2102 would appropriate $250 million for the state treasurer to repurchase $300 million of term bonds due in 2051 through a tender offer. State Treasurer Steven
Bonds
Nevada’s rainy-day fund has soared to $904 million, the highest balance in state history, according to Nevada State Treasurer Zach Conine. The balance grew to this level following the transfer of $516.9 million from the state’s general fund last week, according to a release from the treasurer. The balance is more than double what it
Philadelphia Fed President Patrick Harker said the odds of the Federal Reserve being able to control inflation without triggering a recession are growing, but that the key interest rate must get above 5% and stay there to ensure price pressures ease. “We actually are increasing the odds — we can get a soft landing. That
Michigan is considering a large, first-time road tolling program that would establish a public tolling agency and new borrowing credit to shore up a long-struggling road funding system. The toll program, which would begin with nearly 600 of mostly interstate miles, would also be somewhat unusual in that it would build on existing roads. Most
Illinois’ consolidation of suburban and downstate police firefighter pension fund assets cleared a second legal hurdle but it could take a decision from the Illinois Supreme Court to clear the path for full participation in the plan. Kane County Circuit Court Judge Robert Villa last May upheld the law and an appellate court this week
The Florida Legislature concluded its special session on Friday and passed new laws that renamed the Reedy Creek Improvement District and put its control in the hands of Gov. Ron DeSantis. The Legislature approved a bill in April to dissolve all independent special districts created before 1968. The bill’s authors and DeSantis made it clear it was intended to punish the