MuniNet Guide provides some of the more notable news stories relating to state and local infrastructure investments, involving transportation, environmental sustainability, energy, and economic development. High-Speed Rail Board to Weigh in on Revised...
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Healthcare Organization Issues Billion Dollar Revenue Bonds
Featured Municipal Bond in the Market, Week of 04/25/2016 This week's featured municipal bond comes from Ascension Health, a faith-based healthcare organization based in Missouri, is scheduled to issue a $1,855 million revenue bond, secured by pledged revenues under...
Is Chapter 9 the Best Resolution Mechanism for Financially Distressed Schools or Are There Better Alternatives? – PART TWO
STATE MONITORING, OVERSIGHT, INTERVENTION, REFINANCING AND, IF NECESSARY, DISSOLUTION OF FINANCIALLY DISTRESSED SCHOOL DISTRICT by James E. Spiotto* This is Part Two of the two part series on the alternatives available to a financially distressed school...
Slow Descent: How Economic and Regulatory Factors Are Changing the Regional Airline Industry and the Potential Effect on the Nation’s Airports
by Peter Stettler Over the past ten to 15 years the major domestic network airlines have relied on regional airline partners to efficiently serve smaller and mid-sized airports across the nation. Lately the advantages of the regional airline model have begun to wane...
San Francisco Scheduled for Bond to Update Infrastructure
Featured Municipal Bond in the Market, Week of 04/04/2016 The City and County of San Francisco has been undergoing a strong effort to replace its aging and inadequate water infrastructure for some time. In order to keep the efforts moving, an competitive issue of new...
Trustee and Bondholder Rights and Remedies
By James Spiotto A. In understanding the rights and remedies of bondholders and trustee, it is important to understand the critical differences between revenue bonds and general obligation bonds, lease appropriation bonds and conduit financings and their respective...
Understanding Municipal Bankruptcy and Who Can Use Chapter 9?
By James Spiotto What is Chapter 9? Exclusive chapter of the Bankruptcy Code that provides a method for municipalities to adjust debt. Not a tool for elimination of municipal debt but adjustment of debt to what is sustainable and affordable. It is voluntary, a...
Gambling on Atlantic City’s Future
The fiscal plight of a high profile local issuer such as Atlantic City has also served to draw attention to New Jersey’s deteriorating credit picture. This oceanside resort, as it were, lends itself quite readily to muni credit analysis 101: it is a classic tale of a one-industry town whose sole industry happens to be in a tailspin.
PREPA in the Crossfire – Webinar Replay Available
In case you missed it ... A webinar, featuring an independent panel discussion on the challenges, potential default, impending restructuring and outcomes for the Puerto Rico Electric and Power Authority (PREPA) took place on July 30. Panelists included: Gary...
Detroit’s Bankruptcy Repudiation of COPs Defies History
Detroit’s repudiation of its COPs in bankruptcy is not supported by the history of government finance in the U.S. Repudiation of debt by states or local governments is not new, dating back as far as the early 1800’s. The lessons learned from that repudiation should not be forgotten.