CDFA Bond Finance Update - December 5, 2017
Future of PABs Will Be Decided in Conference
The Senate's passage of its tax bill by a 51-49 vote leaves the fate of private activity bonds, which would be spared in the Senate bill but killed in the House measure, hanging in the balance.
Tax Reform Provisions Have Local Govt's Wary
The elimination of private activity bonds and tax-exempt advance refundings have many local governments leaders in Ohio concerned about their future.
Senate Passes Tax Cuts and Jobs Act
This article outlines the differences between the now passed Senate and House tax reform bills, as well as an overview of what a final bill may look like.
Omaha PPD to Issue $220M in Bonds
The Omaha Public Power District is seizing on strong demand in the U.S. municipal bond market. The utility plans to issue $220 million worth of revenue bonds. OPPD will use proceeds from the issue primarily to refund, or retire, outstanding bonds from 2011 and 2012, effectively refinancing the older bonds with a better interest rate.
Revenue Bonds OK'D for CHS Relocation
Economic development leaders cleared a major final hurdle for the development of Glacier Rail Park when the Flathead County commissioners unanimously approved a resolution for port authority revenue bonds needed to finance the relocation of CHS to the rail park.
$3.8M in Blight-Relief Grants Approved by RI Housing
A playground for an elementary school in South Providence, downtown revitalization in Woonsocket, and a new continuing-education center in Central Falls were among the projects that won support in the first round of awards from the $10-million urban revitalization/blight relief fund approved by state voters in 2016 as part of the $50-million affordable housing bond.
Gavilan College Uses Clean Renewable Energy Bonds
To help finance the $5.5 million project, Gavilan Joint Community College District secured U.S. Department of Treasury clean renewable energy bonds with a 1.05 percent interest rate after a federal tax credit, which allow public sector entities to fund renewable energy projects
Old Mill Transformed Through Tax Credits and More
Workforce-housing apartment project funded through $7.8 million of federal low-income housing tax credits and $1.8 million in federal historic-district tax credits, used to lure bank financing; $300,000 from the state affordable housing fund; $475,000 in a block grant from the HUD; and $1.1 million in a 30-year, zero percent loan, also from HUD.
Cleveland Water Says It Won't Need New Bond Debt For Years
The Cleveland Water Department recently announced it would refund previously issued revenue bonds, using newly issued bonds. The department said it could see an overall savings of $25.9 million in future debt payments over the next 15 years.
KPM Financial Weekly Rate Update
KPM Financial | Dec. 4 |
Moody's Market Report
Moody's | Dec. 4 |
Wye River Weekly Capital. Markets Update
Wye River | Dec. 1 |
|News from |
The latest municipal finance headlines from The Bond Buyer.
Passage of Senate Tax Bill Leaves Fate of PABs to Reconciliation
The fate of private activity bonds, which would be spared in the Senate bill but killed in the House measure, hangs in the balance. With advance refundings eliminated in both bills, that popular cost-saving tool for municipalities is all but dead. Both bills would reduce the corporate tax rate to 20% from 35%, although the Senate bill would delay the reduction until 2019.
MassDevelopment to Issue $240M for NewBridge CCRC
The Massachusetts Development Finance Agency intends to come to market next week with a roughly $240 million financing for the NewBridge on the Charles project. Proceeds will refund outstanding debt and pay issuance costs.
California's Post-Redevelopment Tools are Getting a Test Drive
La Verne city leaders have spent the past 18 months coming up with a plan to redevelop 100 acres into a mixed-use development involving housing, infrastructure and a parking structure for a train station on the Foothill Gold Line, a light rail extension into the San Gabriel Valley,
Bond Deal for P3 Launches $3.9B Remodel at Denver International Airport
Denver is launching a $3.9 billion capital improvement program for its airport by issuing nearly $200 million of debt .The five-year capital project will include $1.8 billion of gate additions on all concourses and $1.1 billion of improvements to the security and concession areas within its main Jeppesen Terminal.
Senate Tax Bill May Be Used to Negotiate Final Measure
Lawmakers in the House and Senate may use a series of managers' amendments from Senate Finance Committee chairman Orrin Hatch to negotiate changes to the tax bill that will ensure its passage by that chamber and then approval by the House.
City to Buy Equipment for Treatment Plant
Debbie Padgett, wastewater treatment plant superintendent, said the facility has been renting equipment, such as a mini-excavator, skid steer track loader and backhoe, for the past three years. The city has paid $331,000 in rent to United Rentals, but can purchase the equipment for $141,000.
CDFA is proud to partner with The Bond Buyer as our Official Media Sponsor. Read more about this partnership and all of its benefits here.
|Bond Finance Headlines|
Senate Tax Bill Could Add Anti-Stadium Bond Provision
Roll Call | Dec. 1 |
House Tax Bill Threatens Affordable Housing
Bloomberg | Dec. 1 |
21 House Republicans Urge Leadership to Protect PABs
Office of Rep. Randy Hultgren | Nov. 30 |
Republicans in House Seek Protection for PABs, Advance Refundings
Reuters | Nov. 30 |
21 in House GOP Lobby for PABs, Advance Refundings
The Bond Buyer | Nov. 30 |
Tax Bill Moves to Senate Floor
CDFA | Nov. 30 |
Clarksville Gas & Water to Save $3.5M Through Bond Refund
The Leaf-Chronicle | Nov. 30 |
Work Begins onFresco Planned at Albuquerque Convention Center
KRQE News 13 | Nov. 29 |
Fate of Special Purpose Districts Tied to Tax Bill
Builder | Nov. 29 |
Bonds Funding New Ag. Barn in TX
Houston Chronicle | Nov. 28 |
Oak Creek Hosting $7M Bonds for Milwaukee and Oak Creek Businesses
Journal Sentinel | Nov. 28 |
Children's Hospital of WI to Issue $273M
MuniNet Guide | Nov. 27 |
Bridgeport City Council Accepts New Roads into Infrastructure
The Exponent Telegram | Nov. 27 |
City OKs Finance Plan for New WMU Water Plant
The Winchester Sun | Nov. 24 |
Council OKs Bond Refinancing Plan
Herald Argus | Nov. 24 |
Kansas to Open $6.5M Dinosaur Theme Park
San Francisco Chronicle | Nov. 23 |
PAB Elimination Would Hurt NY
Times Union | Nov. 22 |
MSRB Releases Overview of Tax Bills
MSRB | Nov. 21 |
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