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The Internal Revenue Service has informed the Port of Port Arthur Navigation District of Jefferson County, Texas that the tax-exempt status of a 2017 $55 million bond issuance remains unresolved, months after the district initially disclosed that the IRS was casting doubt on the tax-exempt status of the bonds. The notice came via a notice on

Debt-shy Tennessee is eying private activity bonds under its newly authorized public private partnership program. Gov. Bill Lee signed the Transportation Modernization Act into law last April, supported by a $3 billion general fund infusion, making Tennessee the latest state to authorize P3s. The alternative delivery method will be used to build four toll lanes

Ex-IFS Securities trader Keith Wakefield committed securities and wire fraud when, as the broker-dealer’s head of fixed income, the Chicago resident made forbidden speculative trades and embezzled hundreds of thousands of dollars over a two-year period, an Illinois federal court jury found this week. According to the U.S. Attorney’s Office for the Northern District of

The North Carolina Local Government Commission on Tuesday approved the Mecklenburg County and Charlotte-Mecklenburg Schools request for a $2.5 billion bond package. It was the largest amount of tax-exempt financing ever OK’d by the commission. Separately, State Treasurer Dale Folwell noted that the state is on the way to reaching its goal of paying down

An active primary market was the focus Wednesday with the New York City TFA pricing for institutions with small changes to yields from its Tuesday retail offering, Massachusetts upsizing its GO refunding deal and Wisconsin selling green bonds in the competitive market. Triple-A muni yield curves were mostly little changed to a basis point of

The focus shifted fully into the primary market Tuesday as the secondary took a backseat to large new-issues pricing in both negotiated and competitive markets while U.S. Treasuries halted its two-day sell off to see gains on the day. Equities ended mixed. Munis were little changed Tuesday, as UST yields fell six to nine basis

A struggling Iowa hospital’s sale to its primary competitor through a bankruptcy proceeding has closed. In a case filing by Iowa City-based Mercy Hospital, the notice of sale closing made official the hospital’s sale to the University of Iowa through the Chapter 11 bankruptcy process. Mercy filed for bankruptcy in August, thwarting a push by

Corpus Christi is moving forward with Texas’ first seawater desalination treatment plant for municipal use with the aim of providing the Gulf Coast city a drought-proof water supply. In a 6-2 vote last week, the city council approved several measures including the issuance of $221 million of utility system senior lien revenue improvement bonds to