Category: Municipal Bond Credit Report
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Municipal Bond Credit Report: Late again: California releases tardy audited financials for fifth year running
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The state of California has published its fiscal year 2022 annual comprehensive financial report, marking the fifth year in a row the state’s ACFR has been significantly delayed… Link to Story
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Municipal Bond Credit Report: CalPERS takes stance against tax initiative
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: In a majority vote, the California Public Employee Retirement System board came out against a state initiative headed for November’s ballot that would limit the ability of state and local governments to levy taxes and make pension contributions… Link to Story
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Municipal Bond Credit Report: Defaults are rising on highly leveraged workforce housing debt
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: One tool aimed at helping to solve California’s notorious affordable housing crisis appears to be headed for a crisis of its own. Defaults are rising on highly leveraged unrated workforce housing bonds, primarily issued over the last few years in California to purchase apartment buildings, when interest rates were near zero……
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Municipal Bond Credit Report: Florida’s budget contains $500M for continued paydown of state debt
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The Florida state legislative session ended Friday with lawmakers approving a $117.46 billion budget for fiscal 2024-2025, up 0.8% from the $116.5 billion fiscal 2023-2024 budget… Link to Story
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Municipal Bond Credit Report: Texas places charter school network under conservatorship
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: IDEA Public Schools in Texas will operate under state oversight as part of a settlement agreement with the charter school network, which was the target of a probe since 2021 into alleged financial and operational improprieties… Link to Story
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Municipal Bond Credit Report: Pennsylvania conduit borrowers aren’t subject to prevailing wage rules
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Private borrowers that issue tax-exempt bonds through Pennsylvania conduit issuers don’t need to follow the state’s prevailing wage requirements for public projects… Link to Story
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Municipal Bond Credit Report: Another Arizona conduit authority borrower files for bankruptcy
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Harvest Gold Silica Inc. filed a Chapter 11 bankruptcy in federal court this week, after defaulting on bonds it sold through the Arizona Industrial Development Authority (AZIDA) in 2019… Link to Story
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Municipal Bond Credit Report: GDPNow Latest estimate: 2.5 percent — March 07, 2024
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 2.5 percent on March 7, unchanged from March 6… L ink to Story
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Municipal Bond Credit Report: Initiative 1935: Sweeping Measure to Limit Ability of State and Local Governments in California to Raise Revenues
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Voters in California may cast ballots this November on a proposal to make substantial changes to the California Constitution involving taxation and related government powers. .. Link to Story
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Municipal Bond Credit Report: Home Sales Rebounded in January After Last Year’s Sharp Decline
Categories: Municipal Bond Credit ReportMunicipal Bond Credit Report: Sales of previously owned homes rose in January from the prior month, rebounding modestly after sales last year dropped to their worst level in nearly three decades… Link to Story