News – Page 1600 – Ranson Financial Group LLC

Bond Insurance Returns to the Muni Market in a Big Way

info2020-10-22T09:47:41-05:00October 22nd, 2020|

The decimated municipal-bond insurance industry is having a renaissance. Weakened by Covid-19, state and local borrowers are using insurance at their highest rates in more than a decade. This type of upfront protection offers a promise from insurance companies to pay investors if the municipality defaults. Overall, the share of newly issued muni debt carrying insurance reached 7.13% in the second quarter and was 6.8% in the third quarter, up from an average of 4.72% in the decade before the pandemic, according to Municipal Market Analytics data. Fueling the trend is a drop in local government creditworthiness that has left public [...]

Housing incentive sweetened in Ark City

info2020-10-22T07:05:52-05:00October 22nd, 2020|

Arkansas City commissioners approved a special tax incentive Tuesday in hopes of luring builders to the new Compass Point housing development. A proposal presented to the commission called for a 90-percent tax rebate on the first $150,000 property value for 10 years. That is an increase over the city’s current tax rebate program, which allows 75 percent for seven years. After a brief discussion, elected officials approved the resolution, but also raised the property value cap to $250,000. Source: The Arkansas City Traveler

Squirrel population sparks power outages in Winfield

info2020-10-22T07:05:24-05:00October 22nd, 2020|

An increased squirrel population, combined with older infrastructure, has led to a spate of power outages and interruptions in Winfield. City employees have been dealing with problems caused by the critters on a main electrical circuit, which covers an area roughly from Ninth to 19th avenues and from Andrews to Mound streets, according to a post Friday on the city’s Facebook page. The city is trying to alleviate the problem by identifying areas of the circuit that are having the most issues with squirrels so they can make changes to the infrastructure. Source: The Arkansas City Traveler

Municipal Bond Trends for October 21, 2020

info2020-10-22T07:04:11-05:00October 22nd, 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.

The bond market is starting to wake up with interest rates headed higher

info2020-10-22T06:59:16-05:00October 21st, 2020|

The bond market appears to be waking up. After trading in a close range since June, Treasury yields are starting to break out of their range and look set to edge higher. The 10-year yield reached a high of 0.834% early Wednesday morning and was hovering just at the 0.80% level in afternoon trading. "This is an inflection point in the sense that stimulus is coming. It's not if, it's when, and we're getting closer to the point of I think no matter who wins the presidency you're going to get fiscal stimulus," said Jim Caron, head of global macro strategies [...]

Allen County celebrates SPARKS check

info2020-10-22T07:00:21-05:00October 21st, 2020|

Allen County gets $192,500 from funding allocated to Kansas counties. About 20 businesses and 20 nonprofits will receive the money. Allen County commissioners received a check for $192,500 to represent CARES/SPARK funding allocated to Kansas counties, at their meeting Tuesday. About 20 local businesses and 20 local nonprofits will receive the funds. Thrive Allen County CEO Lisse Regehr also discussed with commissioners using additional SPARK funds to install touchless faucets and other amenities at public buildings connected to the landfill office, noxious weed building and three senior center buildings. Source: The Iola Register

Norton’s COVID-19 infection rate highest ever recorded in Kansas

info2020-10-22T07:03:13-05:00October 21st, 2020|

A severe and deadly outbreak of COVID-19 that has ravaged the Norton community is by far the worst recorded in Kansas since the start of the pandemic, health officials said Wednesday. Gov. Laura Kelly called the outbreak a “stark reminder” that the threat of COVID-19 is real, even in rural areas. She said she was directing state resources to assist with the outbreak. “Outbreaks are not isolated incidents,” Kelly said. “For months, many have mistakenly shared the idea that this virus would never reach our rural and lower-population communities. Now, it is worse in those towns and counties than it is [...]

Wichita’s Bike Share Program Resuming Under New Operator

info2020-10-22T07:00:45-05:00October 21st, 2020|

After shutting down this spring because of the COVID-19 pandemic, Wichita’s bike share program will resume later this year under a new operator. Michigan-based Tandem Mobility will take over the Bike Share ICT program from Zagster. The company filed for bankruptcy in March, leaving the bike docks scattered around Wichita empty for months. Tandem will provide 200 bikes, maintain the bike stations and provide customer support, including a mobile app for riders. Source: KMUW

Wichita mask ordinance expires, county mask ordinance still in effect

info2020-10-22T07:01:10-05:00October 21st, 2020|

Wichita’s mask ordinance expires at midnight. However, the city will continue to follow Sedgwick County’s Emergency Public Health Order which requires residents to continue to use masks in all public places, including all City of Wichita facilities. Learn more about Sedgwick County’s mask requirements and health exceptions on their website. As the city no longer has a mask ordinance in effect, the city will close its mask hotline and email service this week. Questions regarding the mask order and other health and safety orders should be directed to the county. Source: KSN-TV

Topeka City Council rescinds controversial plumbing amendment

info2020-10-22T07:01:49-05:00October 21st, 2020|

The Topeka City Council unanimously voted Tuesday to rescind controversial plumbing amendments and reconsider how the amendments to the plumbing code should be worded. Deputy Mayor Tony Emerson made the motion to reconsider two amendments he proposed after hearing concerns from businesses in the community. “Although my amendments solved a few immediate problems their wording let some plumbing contractors think their livelihood was being threatened,” Emerson said at the Oct. 20 city council meeting. “I can assure you that was not the intent.” Source: Local Government - The Topeka Capital-Journal