News – Page 1588 – Ranson Financial Group LLC

Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels

info2020-11-06T08:01:55-06:00November 6th, 2020|

The Federal Reserve held short-term borrowing rates near zero in a decision Thursday that characterized the economy as growing but not near where it was before the coronavirus pandemic hit. As markets widely expected, the Fed kept its benchmark interest rate anchored in a range between 0%-0.25%, where it has been since an emergency cut seven months ago in the early days of the coronavirus pandemic. ...The Fed's decision to hold steady comes amid concerns over the direction of the economy as Covid-19 cases accelerate and public officials contemplate restrictions on activities that could hamper growth. As it has done multiple [...]

STAR bond projects structured to fund themselves

info2020-11-06T08:00:19-06:00November 6th, 2020|

From a financial standpoint, the state’s Sales Tax and Revenue (STAR) bond projects are set up to essentially pay for their own development. The tool allows Kansas municipalities to issue bonds “to finance the development of major commercial, entertainment and tourism projects,” which are then paid off through the sales tax revenue generated by the development. ... While there are a few more wrinkles, once a STAR bond district is established (like Derby did in 2015), such bonds can then be issued to make payments for development of tourism attractions, infrastructure improvements, etc. ... In metropolitan areas, those bonds can only [...]

Municipal Bond Trends for November 5, 2020

info2020-11-06T07:22:57-06:00November 6th, 2020|

The interest rate table above illustrates recent changes in a sample of MBIS "investment grade" yields. Every issuer's credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.

Sedgwick County health officer says more intervention needed to slow COVID-19

info2020-11-06T07:06:12-06:00November 6th, 2020|

Sedgwick County’s chief health officer is calling for more interventions in the community to limit the spread of COVID-19, as the county and the state of Kansas continue to see more new cases. Dr. Garold Minns made the comments during a special meeting of the Sedgwick County Commission on Thursday. Dr. Minns said there is no precise answer why cases are going up, but he suggested several factors. He said the reopening of schools may have been a component, along with sports and activities that are leading to more human contact. He said he is not criticizing the schools because they [...]

Overlay project awarded for K-96 in Reno, Sedgwick counties

info2020-11-06T03:42:35-06:00November 6th, 2020|

A Wichita contractor won the bid this week to overlay nearly 33 miles of K-96 and K-14 highways in Reno and Sedgwick counties. Cornejo & Sons LLC won the project with a low bid of $7.862 million. The contract includes an overlay of K-96 from the K-14 junction in Reno County east to Maize Road, and K14, from the K96 junction east to the east US-50. Officials did not indicate when the project was scheduled to begin. The bid was one of 26 awarded around the state from an Oct. 21 bid letting in Topeka, including a signing project in Reno [...]

Lenexa approves CID sales tax to help finance mixed-use Ten Ridge project

info2020-11-06T07:08:29-06:00November 6th, 2020|

The Lenexa City Council on Tuesday voted 6-0 to approve a public financing agreement for a new mixed-use development along a southern part of the city. The developer, West Star Development, plans to build Vista Ridge, a $43 million mixed-use project at the northeast corner of K-10 Highway and Ridgeview Road. A portion of the site is now approved as a Community Improvement District, on which the developer can be reimbursed up to $3.5 million in eligible costs associated with the project. Source: Shawnee Mission Post

Fed holds interest rates steady near zero, says economy is still well below pre-pandemic levels

info2020-11-06T07:09:00-06:00November 6th, 2020|

The Federal Reserve held short-term borrowing rates near zero in a decision Thursday that characterized the economy as growing but not near where it was before the coronavirus pandemic hit. As markets widely expected, the Fed kept its benchmark interest rate anchored in a range between 0%-0.25%, where it has been since an emergency cut seven months ago in the early days of the coronavirus pandemic. There were few language changes in the post-meeting statement from the Federal Open Market Committee, though the panel did note that the economy continues to struggle. Source: CNBC - Bonds

How Lenexa trains police officers

info2020-11-06T08:02:57-06:00November 6th, 2020|

Whether they're new to law enforcement or transferring from another agency, Lenexa police officers go through extensive training to prepare them for solo patrol. All recruits start with pre-academy training and orientation instructed by Lenexa officers. This establishes baseline skills to benefit the recruit going into the police academy, including geography of Lenexa, physical conditioning, and basic firearms. Recruits are also issued uniforms and equipment during this time. Source: City of Lenexa

There is something remarkable happening in tiny Humboldt, Kansas

info2020-11-05T11:56:52-06:00November 5th, 2020|

Just a little over 100 miles southwest of Kansas City, Humboldt is like a lot of other rural Kansas towns, except that Humboldt is now undergoing a major transformation from typical Kansas small town to a town with more cool stuff going on than many of our dense urban neighborhoods. In recent years, the Works family, a local family that owns a very successful trailer hitch manufacturing company, has been embarking on an unusual and exciting redevelopment of Humboldt’s downtown area. They have purchased several century-old buildings in the town square, and have been planning and working on an “experiment” that [...]

Municipal Bond Trends for November 4, 2020

info2020-11-05T07:13:15-06:00November 5th, 2020|

The interest rate table above illustrates recent changes in a sample of MBIS "investment grade" yields. Every issuer's credit is different. For rates that may be applicable to your municipality, contact our Municipal Bond Advisors, Larry Kleeman and Beth Warren.