The League of California Cities is set to host a webinar to assist potential applicants in accessing the $3.3 billion in funds accelerated by the governor from a bond measure ratified by voters in March. This funding, to be released in August, marks the initial portion of the $6.4 billion Proposition 1 bond measure. Despite
Politics
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. The move, based on standards developed by Bloomberg, has raised concerns and sparked debates among industry experts. Matthew Bastian, senior director at CUSIP Global Services, expressed his
The Louisiana Public Facilities Authority is preparing to price $1.33 billion in Baa3-rated toll bonds next week for a public-private partnership to replace the Calcasieu River Bridge. This massive project is expected to have maturities well into the mid-21st century and will be managed by JPMorgan and Wells Fargo. One of the main concerns with
The process of rebuilding America’s roads and bridges with funds from the Bipartisan Infrastructure Law is facing significant challenges due to regulations and red tape. Despite the intentions behind the legislation, the actual implementation is being hindered by bureaucratic hurdles that slow down progress. This has raised concerns among proponents of the law who are
The city of Gary, Indiana, is embarking on a revitalization effort aimed at transforming the downtown area through strategic bond financings. With projects in the pipeline such as the Gary Metro Center station redevelopment and the construction of a convention center in Lake County, the city is collaborating with Notre Dame’s School of Architecture to
California’s fiscal 2025 budget has been a subject of concern due to the revenue gap that emerged in fiscal 2024. Fitch Ratings has pointed out that while some adjustments have been made to close the gap, further actions will be necessary to achieve fiscal balance in the coming years. The state’s issuer default rating stands
California Governor Gavin Newsom recently issued an executive order aimed at clearing homeless encampments on state properties, urging local governments to utilize state funding to take similar actions. This move comes in response to the U.S. Supreme Court’s Grants Pass decision, which reversed a previous ruling restricting the removal of homeless encampments without adequate shelter
On Tuesday, the Federal Deposit Insurance Agency board is set to vote on a notice of proposed rulemaking at an open meeting regarding the Financial Data Transparency Act. This act, signed into law on Dec. 23, 2022, mandates that municipal securities disclosures be converted into a machine-readable format. The FDIC, along with six other federal
In a recent decision, the Louisiana State Bond Commission made a critical financial move by approving three massive bond issues totaling more than $3 billion. This decision marks a significant milestone in the state’s efforts to enhance infrastructure and public services. The commission approved a $1.33 billion to $2 billion bond, which will be backed
Oregon Gov. Tina Kotek has recently declared a state of emergency due to the severe wildfires that have been raging across the state. With thousands of lightning storms sparking over 100 new fires, Oregon is facing an aggressive start to the wildfire season. Three large blazes have already ravaged more than 100,000 acres of land,