Bonds

Florida mining company Mineral Development, LLC failed to pay $10 million in principal and interest on January 1. Adobe Stock Florida mining company Mineral Development, LLC defaulted on $85 million of outstanding industrial development bonds at the start of the year, the first municipal default of the new year, according to Municipal Market Analytics’ Default

The Wyoming House of Representatives has become the latest GOP state to introduce a bill banning firms that are deemed to have used environmental, social or governance factors in their investment decisions.State of Wyoming Wyoming has become the latest state to float legislation that restricts state funds from being invested with firms that consider environmental,

“I do have a very high bar when it comes to revenues, and we are not going to grow an economy on the backs of working Marylanders,” said Democratic Gov. Wes Moore during a press conference on Wednesday. ”I inherited a structural deficit when I became the governor, because the state was both spending at a

Texas Attorney General Ken Paxton addresses the Conservative Political Action Conference in February 2024. On Tuesday, he announced his office will end reviews of Bank of America, Morgan Stanley, and JP Morgan after they withdrew from the Net-Zero Banking Alliance.Bloomberg News Texas Attorney General Ken Paxton lauded recent moves by Bank of America, Morgan Stanley,

California Gov. Gavin Newsom previews the next state budget Monday at an appearance in the San Joaquin Valley.California Governor’s Office California Gov. Gavin Newsom previewed a balanced state budget Monday during an appearance ahead of his administration’s formal reveal of the plan later this week. The proposed budget is “fully balanced with no deficit and

The Oklahoma Turnpike Authority could be selling $1.3 billion of revenue bonds in late January to continue financing for a controversial expansion project and to refund outstanding debt. Oklahoma Turnpike Authority The Oklahoma Turnpike Authority could be back in the municipal bond market late this month with a $1.3 billion deal to continue financing for

Congestion Relief Zone signage on Park Avenue in New York on Friday, before the tolls took effect Sunday.Bloomberg News The New York Metropolitan Transportation Authority activated congestion pricing on Sunday for vehicles entering lower Manhattan.  The launch of toll collections is a milestone for a program that was years in the making, beset by lawsuits

The Indiana Municipal Power Agency, which owns a piece of one unit at the Gibson Station coal-fired power plant in Owensville, Indiana, returns to the bond market next week. Bloomberg News The Indiana Municipal Power Agency will issue $268.3 million of power supply system revenue bonds next week to refund several earlier series of bonds

Bond financing will accelerate plans to upgrade U.S. 275 in Nebraska to an expressway, said Vicki Kramer, director of the state Department of Transportation.Nebraska Department of Transportation The Nebraska State Highway Commission has signed off on the state’s first bond issue for a highway project. The commission on Dec. 6 unanimously approved a resolution authorizing

“The largest share of the higher revenue is from one-time litigation proceeds and year-end accounting adjustments related to prior-year cost recoveries,” said Washington, D.C., CFO Glen Lee.Christopher Mobley The latest revenue estimate from the District of Columbia’s chief financial officer shows a positive $169.7 million bump in actual inflows compared to the estimates that were

Rob Bonta, California’s attorney general, announced the $10 million settlement in the fraud case on Thursday.Bloomberg News A former Los Angeles County physician, a non-profit medical center he founded, a laboratory he co-owned, and an executive at these entities have agreed to pay $10 million to settle allegations that they submitted false claims to Medicare

A deal backed by United Airlines to finance upgrades at Houston’s George Bush Intercontinental Airport was one of many billion-dollar-plus deals in Texas in 2024.Houston Airport System In a record year for municipal bond issuance, Texas set a record of its own. Issuers in Texas sold $67.88 billion of bonds in 2024, according to LSEG

“President Trump and I had a great meeting to discuss our shared priorities for the President’s second term,” said Bowser. ”President Trump and I both want Washington DC to be the best, most beautiful city in the world and we want the capital city to reflect the strength of our nation.”     DC.Gov President-elect Donald Trump and Washington,

Enjoy complimentary access to top ideas and insights — selected by our editors. President-elect Donald Trump’s return to the White House has placed public finance leaders on the defensive, as tax policy changes may impact the industry’s investor base, increase borrowing costs and stymie certain infrastructure finance opportunities. Looking to the past offers some insight

Oregon Gov. Tina Kotek has been working furiously the past 30 days launching her budget proposal and closing the door on a special session to deal with costs associated with a record-breaking 2024 wildfire season.Oregon Governor’s Office It’s been a busy 30 days for Oregon Gov. Tina Kotek. Since Thanksgiving, she has approved legislation drafted

“This ruling protects critical funding that helps us provide public safety, infrastructure and other essential services for our residents,” Round Rock Mayor Craig Morgan said.City of Round Rock, Texas A Texas judge ruled largely in favor of six cities that sued the state comptroller over a move that would have cost them millions of dollars

A housing development in the Denver suburbs. Infrastructure for most new residential development in Colorado is financed through metropolitan district bonds.Bloomberg News A flurry of first time and repeated technical bond defaults by Colorado metropolitan districts in December is raising concerns about the debt, which finances public infrastructure such as roads, sewers, parks, and recreation

Laura Dougherty, staff attorney for the Howard Jarvis Association, was granted a one-month extension to Jan. 31 to file briefs in the case against San Jose.Howard Jarvis Taxpayer Association The California Supreme Court agreed to an extension for filing briefs in San Jose v. Howard Jarvis Taxpayer Association, the primary case challenging cities’ use of

Connecticut Gov. Ned Lamont has consistently defended the fiscal guardrails he inherited when he first won the office in 2018.Bloomberg News Connecticut’s “fiscal guardrails,” a 2017 set of budget reforms, have a pretty big reputation, as budget policies go.  The guardrails, placed in the state’s bond covenants, forced the state to pay down billions of

Texas Attorney General Ken Paxton addresses the Conservative Political Action Conference in February. The Republican on Friday lauded Wells Fargo’s move to leave the Net-Zero Banking Alliance, ending a review by his office that could have led to the bank being banned from underwriting state and local government bonds.Bloomberg News Texas Attorney General Ken Paxton