Bonds

The House Committee on Transportation and Infrastructure has introduced the Securing Growth and Robust Leadership in American Aviation Act, a bipartisan bill that would reauthorize the Federal Aviation Administration’s funding over the next five years, expanding the Airport Improvement Program and including a number of improvements aimed at improving workforce and services of the aviation
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Deploying greater use of bond financing to cure the county’s affordable housing shortage is getting a fresh look in the Senate via the Affordable Housing Bond Enhancement Act. The bill, which was introduced Tuesday, is cosponsored by Sens. Catherine Cortez Masto, D-Nev. and Bill Cassidy, R-La. The legislation takes aim at expanding the use of mortgage
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Bond lawyer requests for clarifications on Internal Revenue Service rules affecting municipal finance are so far eliciting no answers from the IRS, leading the National Association of Bond Lawyers to send a letter to the agency requesting a response to some issues that date back to 2018.   The letter comes from NABL president Jodie Smith of Maynard Nexsen,
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Puerto Rico Electric Power Authority bondholders say they are owed $8.5 billion and the timeframe of being able to collect on their claim should continue in perpetuity. That was a central point of contention during Tuesday’s PREPA bond claim estimation hearing during which lawyers for the bondholders and the Oversight Board argued about what the
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In meeting renewable energy goals, Virginia has found a new purpose for its old mine lands. State officials believe they can turn an epidemic of mine closures to their advantage by developing a growing number of abandoned properties into renewable energy hubs, leveraging millions of new funds to bring private developers to the table on
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House Republicans on Tuesday sharply criticized responses from the Federal Reserve and the Department of Treasury, taking the agencies to task for rate hikes that they said damaged the municipal and other markets, thwarted transparency, and cracked the banking system.     The comments came during a House Financial Services Committee hearing on Tuesday. The discussions included
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AES Puerto Rico, a firm that supplies about 21% of the electricity transmitted by the Puerto Rico Electric Power Authority, defaulted Thursday, missing an $18 million interest and principal payment on outstanding municipals it priced through a conduit in 2000. In a notice to the Municipal Securities Rulemaking Board’s EMMA site on Friday, AES Puerto
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The Austin City Council on Thursday approved an $88 million settlement with an airport terminal operator that will allow a largely bond-financed expansion and development program at the Austin-Bergstrom International Airport to move forward with a midfield concourse project.  The settlement paid with airport revenue will end litigation against the city by LoneStar Airport Holdings,
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Two Missouri-based hospital operators, BJC HealthCare and Saint Luke’s Health System, are the latest to join the trend of large-system mergers. The two signed a letter of intent to form an integrated not-for-profit Missouri-based health system Wednesday. The systems will work to reach a definitive agreement “in the coming months” with a closing anticipated by the
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Political brinkmanship has the nation’s credit rating headed towards a race against the clock in the U.S. Senate, though the crisis now appears near resolution after the House Wednesday night passed the 99-page Fiscal Responsibility Act of 2023, a bipartisan effort to avoid default.  Municipal market participants are moved to cautious optimism about the latest events.
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