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Bond Finance Update
May 16, 2017
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CDFA Bond Finance Update


The Growing Threat to Municipal Bonds
Reps. Randy Hultgren (R-Ill.) and Dutch Ruppersberger (D-Md.), the co-chairman of the Municipal Finance Caucus, discuss the negative impacts that capping or eliminating the municipal interest exemption would have nationally on efforts to improve infrastructure

Federal Judge Dismisses Lawsuit over Bonds for All Aboard Florida's Brightline
A Federal judge ruled that the lawsuits filed by Martin and Indian River counties challenging All Aboard Florida's plan to sell tax-exempt bonds were moot because the US DOT has withdrawn its 2014 approval granting Brightline permission to sell up to $1.75 billion in bonds to pay for the rail project.

County Approves Financing for Wichita Downtown Development Project
Sedgwick County commissioners have voted to approve a TIF district by Wichita, KS. The project will include a multi-use pathway for the neighborhood and the renovation or reconstruction of Lawrence-Dumont Stadium as a multi use stadium for other sports, concerts and special events.

Joplin Recovery TIF Could Be Paid off Early
The Joplin, Mo., Recovery Tax Increment Financing District that covers the disaster zone and downtown could be paid off in four to five years, as much as 13 years early at its current rate of growth, the Joplin City Council was told Monday night.

Arbitrage Compliance Guide for Issuers
This publication is a basic guide to the yield restriction and rebate requirements from the IRS. Understanding the arbitrage requirements can help issuers and conduit borrowers comply with their obligations and prevent violations of the arbitrage requirements.

Infrastructure Comes after Taxes and Healthcare, Chao Says
The Trump administration's infrastructure push will take a backseat to tax reform and healthcare, said Transportation Secretary Elaine Chao.

Allentown Developer Can Use Bonds to Refinance $250M in NIZ Debt
Allentown Neighborhood Improvement Zone Development Authority has approved the refinancing of upto $250 million in bonds for a developer. Toby Rittner, president & CEO of CDFA, commended the NIZ-fueled development downtown, but was skeptical that tax-exempt financing could be used for the next project.

Reinvestment Fund Issues $50M in Impact Investment Bonds
Reinvestment Fund, an S&P AA rated CDFI, announced the pricing of $50 million in general obligation bonds. Proceeds from the Impact Investment bonds will support small businesses, grocery stores, and childcare centers in struggling communities, helping to bring much needed jobs and boost local economic growth.

Market Reports

KPM Weekly Rate Update
KPM Financial | May. 8 | Bond Finance | Bond Finance\Market Reports

Municipal Market Update
Stern Brothers & Co. | May. 8 | Bond Finance | Bond Finance\Market Reports

Upcoming Events
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News from The Bond Buyer

The latest municipal finance headlines from The Bond Buyer.

New York MTA Plans Return to Cat Bond Market with $125M Deal
MTA, one of the largest municipal issuers with roughly $36.5 billion of debt, bought a $200 million catastrophe bond in mid-2013, less than a year after Hurricane Sandy struck the region. The transaction, through MTA subsidiary First Mutual Transportation Assurance Co., enabled the MTA to enhance its overall reinsurance portfolio.

MSRB to Pull Its Proposed Minimum Denomination Rule from the SEC
The Municipal Securities Rulemaking Board is pulling its proposed standalone minimum denomination rule from the Securities and Exchange Commission after dealers argued it is overly complex and would hamper liquidity.

IRS Teeing up More Flexible Rules for Public Approval of PABs
Rules increasing the flexibility of the public approval process for tax-exempt private activity bonds will probably be the next released for municipal bonds by tax regulators, an Internal Revenue Service official recently told lawyers.

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

KeyArena Proposals Going Ahead Despite Mayor Murray's Exit
Seattle Times | May. 12 | Bond Finance

Summit County Clears Way to Inject $2M into Development Fund
Akron Beacon Journal | May. 12 | Bond Finance

Warrensburg, MO Council OKs $100M Financing Plan for dollar Tree
digitalBURG | May. 11 | Bond Finance | Incentives

NABL Releases Final Certificates to Help Issuers, Dealers Comply with New Issue Price Rules
The Bond Buyer | May. 11 | Bond Finance

Atlanta Finalizes Deal Saving Water and Wastewater System $43M
The Bond Buyer | May. 11 | Bond Finance | Water Finance

GFOA Tells Issuers to Consult with Finance Team on Issue Price Rules
The Bond Buyer | May. 9 | Bond Finance | Internal Revenue Service (IRS) | U.S. Dept. of Treasury

Two TX School District Bonds Pass
Abilene Reporter-News | May. 8 | Bond Finance | Community Development

GA Mayor's Commission Considers Another SPLOST for Replacing Government Center
Ledger-Enquirer | May. 8 | State Finance Program | Bond Finance | Infrastructure Finance

AZ's Budget Battle: Who Won and Who Lost?
az central | May. 6 | Bond Finance | Economic Development

Rental Project Near Vikings Stadium Still $8M Short
Finance & Commerce | May. 5 | Bond Finance | Brownfield Financing

Budget Deal Puts FBI's P3 Swap of Headquarters in Limbo
The Bond Buyer | May. 4 | Bond Finance | Public-Private Partnership (P3) Financing

Penn Station Mess Is No Outlier in New York's Troubled Transportation Landscape
The Bond Buyer | May. 4 | Bond Finance | Infrastructure Finance

KS House Votes to Continue STAR Bonds
The Hutchinsons News | May. 4 | Bond Finance | Legislative

Advocates Fear Continued Delay Could Derail Purple Line P3
The Bond Buyer | May. 4 | Bond Finance | Infrastructure Finance | Public-Private Partnership (P3) Financing

Glendale Nearing Financial Stability
az central | May. 3 | Bond Finance

New JEDA Bonds Refinance Expansion at Wesley Commons in SC
SC JEDA | May. 2 | Bond Finance

THDA Using LIHTCs and Multifamily Bond Programs to Impact TN
The Chattanoogan | May. 2 | Tax Credits | Bond Finance | Tax Credits\Low Income Housing Tax Credits (LIHTCs)

The Council of Development Finance Agencies is a national association dedicated to the advancement of development finance concerns and interests. CDFA is comprised of the nation's leading and most knowledgeable members of the development finance community representing public, private, and non-profit entities alike. For more information visit CDFA.net or email info@cdfa.net

For more information about sponsoring one of CDFA's electronic newsletters, please contact CDFA or call 614-705-1300.

Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
(614) 705-1300

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