Bonds

New York’s Metropolitan Transportation Authority and the Transit Innovation Partnership have launched a “COVID-19 response challenge” to engage the private tech industry and rapidly evaluate and deploy innovative technologies that make public transit safer in light of the pandemic. “To truly modernize every element of how we run our transit system, you have to look
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The public agency that manages St. Louis public transit hits the market as soon as Tuesday with a refunding to ease near-term COVID-19-induced revenue strains. The Missouri-Illinois Metropolitan Bi-State Development Agency is selling $171 million of combined lien mass transit sales tax appropriation refunding bonds including $13 million of tax-exempts and $158 million of taxables.
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The Puerto Rico Oversight Board approved a fiscal plan expected to increase property tax revenues to the island’s municipal governments by 26%. The governments have been struggling financially. The move Friday afternoon is an attempt by the board to free localities from depending on central government subsidies. Puerto Rico Executive Director Natalie Jaresko said improving
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David Vaudt is ending his seven-year term as chairman of the Governmental Accounting Standards Board on June 30. David Vaudt’s last day as chairman of the Governmental Accounting Standards Board is Tuesday. The 66-year-old former Iowa State Auditor, who is completing a seven-year term, has been commuting from Iowa to GASB’s headquarters in Connecticut since
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Recurring coronavirus outbreaks will probably hold back U.S. economic growth and leave unemployment at elevated levels in the coming years, Federal Reserve Bank of Chicago President Charles Evans said. “My forecast assumes growth is held back by the response to intermittent localized outbreaks — which might be made worse by the faster-than-expected reopenings,” Evans said
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The Pennsylvania Turnpike Commission plans to come back from the coronavirus without its toll-collection staff, a decision that brings polticial blowback and a potential lawsuit. The commission was planning to complete the transition to all-electronic tolling in January 2022. When the pandemic escalated in March, cutting traffic and bringing safety concerns about customer and cash
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KeyBanc Capital Markets has hired veteran municipal banker and project finance specialist Nathan Flynn to bolster its Midwestern presence, the firm announced this week. Flynn recently joined the Cleveland-based firm’s Indianapolis office as a managing director. He will cover Indiana, Midwest governments and non-profit entities, and will work on project finance opportunities nationally. Flynn will
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The Rialto, California-based West Valley Water District either lacked nearly half of its internal financial control measures, or they were not functioning effectively, leading to questionable hiring, spending, and contracting practices, according to State Controller Betty Yee’s audit, released Thursday. Of the 48 fundamental components, principles, and attributes of effective internal control systems — as
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The Federal Reserve put a spotlight on job losses and risks to the financial sector in its semi-annual report to Congress released Friday. “Despite increased resilience from the financial and regulatory reforms adopted since 2008, financial system vulnerabilities — most notably those associated with liquidity and maturity transformation in the nonbank financial sector — have
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Lynn Martin, president & COO of ICE Data Services, also owner of the New York Stock Exchange, talks about ICE’s role in pricing, its municipal evaluation services and just how the municipal market itself is resilient. Chip Barnett, senior markets reporter hosts with another Lynn(e), innovation editor at The Bond Buyer.
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