The California Infrastructure and Economic Development Bank board of directors approved $26 million in loan financing for the city of Santa Cruz for two wastewater improvement system projects, IBank officials said Thursday. The funding will help the city replace and upgrade decades-old equipment with the aim of preventing costly repairs, protecting pipelines from corrosion, improving

Taxpayers shoulder a heavy burden for sports stadium subsidies, the Tax Foundation said this week. Reams of research shows that using bonds to finance sports stadiums and arenas do not generate enough revenue to justify the costs, the foundation said in a blog post Thursday. “According to the academic research, the tangible economic benefits job

Dennis J. Enright, founding principal of NW Financial Group and NW Capital Markets, has died, the New Jersey-based firm announced Thursday. He was 76. Enright’s career spanned a half-century, and he was a pioneer in many now-common financing strategies.  “He was a premier banker, always innovating and searching for client solutions that would save money,”

U.S. Treasuries sold off Friday after payrolls came in much hotter than expected, leading economists and traders to pare back rate cut expectations. The municipal market could not ignore the moves and triple-A yields rose, but outperformed taxables to a large extent, pushing ratios lower. Equities rallied on the news, pushing the Dow to close

After taking a hit in the wake of the deadly 2023 wildfire that devastated the West Maui town of Lahaina, municipal bonds issued for investor-owned utility Hawaiian Electric are on an upswing. The debt, trading in the secondary market as low as 63 cents on the dollar last year, had recovered to the 95 and

Municipals faced some pressure Thursday as U.S. Treasuries saw losses amid geopolitical uncertainty and mixed macroeconomic data ahead of Friday’s payrolls figure while equities were off near the close. The last large new-issues priced in the primary and secondary trading pointed to some weakness, leading to small cuts to triple-A yield curves.  Municipal bond mutual

The devastation Hurricane Helene rained on the mountain region of western North Carolina can be handled financially by governments in the short term but other municipal issuers may struggle and the long term is cloudy, analysts say. Helene hammered the area from Friday through Sunday, bringing rainfall amounts up to 31.3 inches, hurricane winds up

Municipals were a touch softer Wednesday, but outperformed U.S. Treasury weakness as investors focused on the primary market with several large new-issues pricing to solid demand. Equities were in the black to close the session. Triple-A yield curves were little changed to weaker by one to four basis points, depending on the curve, while Treasuries

The Ohio Water Development Authority was scheduled to return to market Tuesday with triple-A-rated revenue bonds, including $400 million of new money green bonds. New money proceeds will reimburse the agency for loans financing wastewater, stormwater and water pollution prevention projects. The OWDA jointly administers, with the Ohio Environmental Protection Agency, the state’s bond-funded wastewater

In her new role as Indianapolis-based managing director at Crews & Associates, Susan Reed aims to bring both creative ideas and a deep well of experience to bear on the challenges facing Indiana issuers. Reed, who has worked as a bond attorney and a municipal advisor and has served in a community and economic development