NABL asks Congress, Treasury for direct-pay bonds, advance refunding

The National Association of Bond Lawyers proposed a plethora of actions Congress and the Treasury could take to help state and local governments weather the pandemic.
In a letter sent to the Treasury and Congress late last week, NABL asked for several legislative and administrative actions to help state and local governments as well as 501(c)(3) organizations dealing with cash flow and liquidity issues due to COVID-19. NABL wants those actions to be done as soon as possible in a new coronavirus stimulus bill.
“Adopting these proposals will enable state and local governments to access much-needed capital at a time when support to our communities is of paramount and immediate concern,” wrote Rich Moore, NABL president.
(Read more: The Bond Buyer)