Old is new again

So the CP daily blogh points to some recent reporting from PublicSource here in town on the impact of bid rigging in some municipal bonds for local school districts and the Port Authority.  I am unclear what the new news is. Some may recall a few old posts on this here.  August 2011: Monty . . . → Read More: Old is new again

The Variable Rate Bond that keeps on maturing

So…  I just don’t have it in me to go though the history of all of this.  But if you recall the miasmic variable rate bond the Pittsburgh Water and Sewer Authority had out there and thought maybe it was all resolved merely because it has not been in the news of late…  well…

. . . → Read More: The Variable Rate Bond that keeps on maturing

Parking and Debt… Not the Debt You Are Thinking of Either

There is bit of debate inside the fence over whether the pension/parking imbroglio would hit the city’s credit rating.  Seems that the city is issuing some new bonds in the midst of the tempest and overall there is not a hit on the ratings of new or old debt for the time being.  See:  . . . → Read More: Parking and Debt… Not the Debt You Are Thinking of Either

Pension Parking Parsing

I had a big long rambling post on general parking/pension issues, but it just isn’t in me to post.  Reading about the latest round of rumblings on the fifth floor had be wondering how we wound up in this state.  Council-mayor relations have occasionally been bad in the past. Intra-council relations have sometimes gone . . . → Read More: Pension Parking Parsing

Treasury Assists with $90B in Bonds: Saves States $12B

Last year’s stimulus package included a program for states and municipalities entitled “Build America Bonds.”

The U.S. Treasury announced that so far it is on target to save those local governments $12.3 billion in borrowing costs with federally subsidized taxable bonds already sold during the first year of the program.

Since the stimulus passed . . . → Read More: Treasury Assists with $90B in Bonds: Saves States $12B

Municipal Bonds: Time to Enforce Disclosure

In the present financial crisis, the municipal bonds arena has been remarkably calm. Municipal bond holders so far have been spared the roller coaster ride that mortgage security owners had to endure. With tax revenues declining and operating conditions strained, there are strong indications that things may change soon. What happened in Jefferson County, . . . → Read More: Municipal Bonds: Time to Enforce Disclosure