Chicago plans to bring $1.003 billion of tax-exempt bonds to market Wednesday for O’Hare International Airport, part one of a three-phase financing plan for 2024. Interest on the $563.9 million of general airport senior lien revenue bonds, Series 2024A, is subject to the alternative minimum tax. The $440 million of general airport senior lien revenue
Bonds
A class-action lawsuit filed Monday by Austin, Texas, property taxpayers against the city seeks the elimination of $187 million in property tax revenue allocated in the 2024 tax year for a light-rail project. The litigation is the latest salvo in a legal battle over the ability of the Austin Transit Partnership, a nonprofit corporation created
Municipals were narrowly mixed Tuesday as U.S. Treasury yields rose out long and equities were mildly higher near the close. The two-year muni-to-Treasury ratio Tuesday was at 63%, the three-year at 66%, the five-year at 66%, the 10-year at 70% and the 30-year at 87%, according to Refinitiv Municipal Market Data’s 3 p.m. EST read.
A San Diego County joint powers authority plans to issue $433.3 million in tax-exempt interim notes to provide construction financing for an advanced water purification project. The East County AWP Joint Powers Authority plans to price the notes on Sept. 4 in two parts: $369.6 million and $63.6 million. Truist Securities is senior manager and
Mount Saint Mary College, a small liberal arts school in New York state, saw its bond rating downgraded to BBB from BBB-plus by Fitch Ratings, after persistent declines in student enrollment pressured the school’s finances. The college on the bank of the Hudson River about 70 miles from New York City enrolled just 1,383 full
The major players in deal that would transfer ownership of the dilapidated RFK stadium site from the hands of the federal government to the District of Columbia is stuck two yards in front of the goal line. “Everyone’s focused on the election,” said Josh Harris who’s the managing partner of the National Football League’s Washington
Bondholders of a chunk of unrated debt floated for the troubled American Dream megamall in New Jersey will see a partial payday next week when the borrower makes up some of the overdue interest payments. The $287 million of grant revenue bonds, which are backed by New Jersey economic development grants based on the mall’s
The nation’s largest children’s hospital has hit a rough financial patch, leading to two bond rating downgrades and plans to cut nearly 1,000 jobs, while it eyes a return to the municipal bond market. Ratings for Houston-based Texas Children’s Hospital were cut one notch to AA-minus by Fitch Ratings in July and Aug. 19 by