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Legislature prepares for one-day marathon debate on taxes, executive power

Members of the Kansas Legislature, with masks in hand and social distancing the rule, convene Thursday for the final day of the 2020 session with plans to usher through pandemic-inspired reforms on emergency oversight, taxation and budgeting. Details of the legislative packages were being crafted by House and Senate leadership Wednesday as Gov. Laura Kelly spent the day in Washington, D.C., for a scheduled meeting with President Donald Trump at the White House. She is to discuss response and recovery to the COVID-19 pandemic with an emphasis on rural economic challenges. Sudden departure of state legislators from the Capitol in mid-March as the coronavirus infiltrated Kansas meant consequential legislation in formative stages was left on the table. Instead of reconvening for a lengthy period in May to complete that work, legislative leaders settled on a one-day event.
(Read more: Local – The Topeka Capital-Journal)

2020-05-21T09:41:37-05:00May 20, 2020|News|

Topeka council increases its oversight of high-dollar street projects

Topeka’s mayor and city council late Tuesday gave themselves increased oversight of high-dollar street projects financed by a city-wide, half-cent sales tax. Before voting 10-0 to adopt a resolution approving the city’s 2021-2023 capital improvement budget and 2021-30 capital improvement plan, the mayor and council voted 10-0 to adopt an amendment to that resolution proposed by Councilman Neil Dobler. That amendment takes steps that include requiring council approval for all street project budgets of $250,000 or more for work financed totally or in part by revenue from the citywide, half-cent sales tax.
(Read more: Local – The Topeka Capital-Journal)

2020-05-21T09:42:50-05:00May 20, 2020|News|

Sedgwick County works to bolster coronavirus testing after sluggish start

Sedgwick County commissioners are pushing for more COVID-19 testing in the Wichita area as businesses reopen during the coronavirus pandemic, citing concerns that testing should be available to people as they return to work. The commission approved spending $250,000 for mobile COVID-19 testing Wednesday. That roving site will be available only to people who have coronavirus symptoms, the same as the health department’s testing site st 2716 W. Central in west Wichita. Commissioner David Dennis said it’s unfair for the county to expect businesses to open back up without employers knowing whether workers are carriers of the virus.
(Read more: Local News |)

2020-05-21T09:43:09-05:00May 20, 2020|News|

Rural hospital saw peak of coronavirus cases higher than Wichita healthcare system

Officials at one of the hardest-hit rural hospitals in Kansas during the COVID-19 pandemic have started to catch their breath after hitting a peak of cases earlier in the month. Southwest Medical Center in Seward County had prepared for as many as 22 patients. It hit that number between May 3-4, necessitating a Blackhawk helicopter to deliver an emergency shipment of ventilators to the hospital. The number of cases was the maximum the hospital had resources to treat and was a couple more cases than the much larger Ascension Via Christi in Wichita saw at its peak in the middle of April. Besides a significant cluster of cases at a meatpacking facility in its own town of Liberal, the hospital also took patients from a cluster at a meatpacking operation 45 minutes away in Oklahoma. The 101-bed facility also had COVID-19 patients from Texas, according to Robin Allaman, Southwest’s vice president of patient care services.
(Read more: Local News |)

2020-05-21T09:43:37-05:00May 20, 2020|News|

Kansas movie theaters, museums, bowling alleys can reopen Friday, but will they?

Kansas will take the next step in its reopening on Friday, when movie theaters, museums, non-tribal casinos and other indoor entertainment venues will be permitted to reopen. Bars and night clubs, along with swimming pools, will stay closed. Gov. Laura Kelly unveiled the changes Tuesday — the latest rollback of restrictions after weeks of lockdown to slow the spread of the coronavirus.
(Read more: Local News |)

2020-05-21T09:43:56-05:00May 20, 2020|News|

Gov. Laura Kelly allowing state to enter Phase 2 of reopening plan Friday

Gov. Laura Kelly said the Kansas economy would be allowed Friday to enter the second phase of a recovery strategy from the pandemic that includes resumption of business by casinos, theaters, bowling alleys, museums and permits return to organized sports activities. Kelly said during a briefing at the Capitol on Tuesday that bars, nightclubs, swimming pools, venues seating more than 2,000, fairs, festivals, parades and summer camps would remain shut down. It’s possible the grip on those activities could loosen by June 8. Under Phase 2, she said, the statewide mass gathering limit would be moved on Friday to 15 people, up from the current cap of 10. “Right now,” Kelly said, “the data tell us it is time for another step forward in opening as quickly as possible but still doing it as safely as possible. I’m encouraged by our progress.”
(Read more: News – The Topeka Capital-Journal)

2020-05-20T08:22:13-05:00May 20, 2020|News|

Crawford County may back hemp-processing business

Industrial hemp has seen rapid growth in Kansas since becoming legal in recent years, but could soon be given an even greater boost in the southeast corner of the state. The Pittsburg City Commission weighed the pros and cons last week of providing support to a new business that is looking to bring cannabidiol (CBD) processing to town, before ultimately holding off on making a decision about whether to help finance the operation.
(Read more: News – The Hays Daily News)

2020-05-20T08:16:16-05:00May 20, 2020|News|

Federal government is bringing back a bond from the 1980s to help pay off a record deficit

“I think the 20-year should do fine. Obviously, we haven’t seen one in a little bit of time. There’s always is a little bit of uncertainty around the unknown in general,” said Gregory Faranello, head of U.S. rates at AmeriVet Securities. On a when-issued basis, the 20-year was yielding 1.21% Tuesday. Yields move opposite price, and its yield is about 50 basis points above the 10-year, at 0.70% Tuesday. The 30-year bond was at 1.42% Tuesday. “If you look at it from a macro perspective, relative to a lot of the G7 rates around the world, even if you look at the 30-year, it is still offering a very attractive yield level,” said Faranello. “Relative to the 10-year it looks attractive as a yield pickup.” Michael Schumacher, director rates at Wells Fargo said he expects the new issue will be met with good demand. The 20-year should appeal to foreign investors and also to pension funds and insurers, who look for longer duration holdings to match their liabilities.
(Read more: CNBC – Bonds)

2020-05-20T08:17:07-05:00May 20, 2020|News|

Municipal short-end rates continue to fall

The municipal market continued its short-end rally Tuesday with yields falling by as much as seven basis points, amid a well-functioning new-issue market that saw deals re-priced to lower yields. Amid an otherwise quiet tone that was characterized by some firmness and strong demand for a large Connecticut pricing and a steepening yield curve, there was support for the front end of the municipal market, according to traders. The front of the municipal yield curve is “astounding” and traders said dealers are uncharacteristically accepting the levels, likely due to the historically attractive ratios, he noted. “Guys are buying the front end even though yields have gone through 1%, which usually holds them up,” he explained. “But, they don’t seem to be adverse to it as they had been.” For instance, on Monday, the three-year triple-A municipal bond yielding .49% was offering 205.9% of the comparable Treasury counterpart, which yielded 0.22%, the trader noted.
(Read more: The Bond Buyer)

2020-05-20T08:17:39-05:00May 20, 2020|News|
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