Municipal News & Jobs

Municipals were stronger on the short end Monday, hitting record low levels for the second time this year in quiet trading while U.S. Treasuries were treading water and equities did much the same as all markets await Wednesday’s Federal Open Market Committee meeting announcement.
Source: Bond Buyer.

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.

More than a dozen historic hotels are located in Kansas, with many built in the early 1900s at the height of the railroad rush. Over the past century, many of the state’s historic hotels have changed ownership and some have temporarily closed. For some, community members stepped up, realizing the importance of these hotel’s history not only to their town but also the state. Historic preservation is a common theme among hotel owners, and many have gained a spot on the National Register for Historic Places. Sara Fox, owner of Holton’s Hotel Josephine, has made historic preservation a priority since the family purchased the building in 2020.
Source: Salina Journal.

The $22 trillion market for U.S. Treasury securities may get a reality check from the Federal Reserve this week following a plunge in interest rates that bucked expectations of higher yields this year as the economy rebounds from the COVID-19 pandemic. Yields, which move inversely to prices, have been in a downward trend since the last Federal Open Market Committee meeting in June. The market initially perceived the Fed as being a bit hawkish as policymakers last month projected an accelerated timetable for rate hikes and opened discussions on ending crisis-era bond purchases amid a backdrop of rising inflation. But the benchmark 10-year note yield, which rose as high as 1.776% in late March, fell to its lowest level since February on Tuesday at 1.1280%.
Source: Reuters.

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.

A petition was filed Friday to the Saline County Clerk’s Office in response to several actions taken by the Salina City Commission during the COVID-19 pandemic. The petition was described by Kevin Korb, who filed it in the clerk’s office, as an effort to rein in some of the mandates put in place by the commission that the signers feel violated citizens’ rights. The petition asked if an ordinance should be put in place that will limit “the power of the city commission to impose restrictions on businesses and citizens related to a state of emergency at the county or state level.”
Source: Salina Journal.

The South Hutchinson City Council on Monday approved changes to the city’s nuisance codes with the intent of making it easier to enforce violations involving tall grass and junk vehicles. With the changes, the city plans to ramp up enforcement beginning in August, said City Administrator Joseph Turner. “Code enforcement is one of the best investments a community can make to protect property values and improve public safety,” Turner stated in a release. “Blight and other nuisances invite meth heads and other degenerates to steal catalytic converters, commit property crimes and victimize our hardworking taxpayers.”
Source: Hutch News.

In an escalation of a dispute with Reno County over who should replace a deteriorating bridge on Scott Boulevard, South Hutchinson’s new city administrator announced on Friday plans to close Avenue F for 90 days. In a news release sent out late Friday afternoon, Joseph Turner said the closure, which will start Aug. 2, is to allow the replacement of a leaking water line. The street will remain open to residents and vendors providing goods and services to them, such as mail, delivery, and refuse services, the release stated, but closed to through traffic.
Source: Hutch News.

A single item is on the Aug. 3 election ballot – whether or not to continue the county-wide 1⁄ 4 cent sales tax. It is not, however, a sales tax increase. Robert Reece, Finney County administrator, said the sales tax was originally passed back in 1995 for the construction and improvement of the grandstands at the Finney County Fairgrounds. It was renewed in 1997 to fund improvements to the Law Enforcement Center and was renewed again in 2014 for the Community Service Center and the Juvenile Detention Center. The bond issue for the 2014 renewal will retire in the middle of 2022, however, the county wants to continue the sales tax to fund improvements to the Finney County Health Department building, EMS headquarters, as well as upgrading some HVAC systems at the Law Enforcement Center, Reece said.
Source: GC Telegram.

The City of Lawrence has enlisted the eager assistance of goats to help weed a city park. The Parks and Recreation Department is using about 50 goats in Prairie Park, 2730 Harper St., to assist with eradicating honeysuckle, which is an invasive plant. The program is intended to be a natural alternative to using herbicides.
Source: LJWorld.com.

Whether someone is looking for a latte or a biscuit with gravy, Jennifer and Dan Brummer want to make their new dine-in coffee shop — Jenz Java — a place where community members can gather. Dan grew up in Bennington — a small Kansas town with few choices for dining. “As kids, we always wanted someplace to go,” he said. “Our parents and grandparents never had any place to go.” So, when Dan was speaking with his neighbor in Haven and found out that the building at 202 Industrial Drive was up for sale, he knew he wanted to buy it and open a coffee shop.
Source: Hutch News.

Huber Sand was granted a conditional use permit to operate a sand and gravel quarry, next to the town of Pierceville, at the Finney County Board of Zoning Appeals meeting Wednesday. … The CUP for Huber Sand was previously discussed at the BZA’a June 16 meeting, but was tabled over concerns voiced by Pierceville residents about opening a sand mine next to the town and additional information given to the BZA by the residents. Some of the concerns raised at the last meeting were decreased property values, air quality, blowing sand due to mining operations, safety of children, light and sound pollution and road usage by the gravel trucks on Main Street in Pierceville.
Source: GC Telegram.

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.

Douglas County leaders have approved a request to rezone 25 acres currently zoned for agricultural use into residential lots. The commission voted unanimously as part of its meeting Wednesday to approve a request from property owners Patrick Halpin and Erin Callahan-Halpin to rezone 25 acres at 981 East 1549 Road, roughly 3 miles south of Lawrence, from its current agricultural zoning to a cluster preservation district. The new zoning will allow the property to be divided into up to five residential lots.
Source: LJWorld.com.

Aaron Stewart, Garden City Parks and Recreation director, gave the Garden City Commission a mid-season report on Garden Rapids at the Big Pool at their regular meeting Tuesday. Since opening, the pool has had an average of about 893 people per day as of July 14, Stewart said. The number has fluctuated, being as high as 1,000 a day and as low as 800 a day. Compared to an average of 309 in 2019 and 330 in 2018, it’s a significant increase, Stewart said. …The number of swimmers has also increased, with 39,308 in 2021. In 2019 there were 25,610 and 27,721 in 2018, Stewart said. “There will be 71,469 swimmers if we continue on this average, that would be our year total,” he said.
Source: GC Telegram.

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.