Municipal News & Jobs

“The muni market is on fire,” Ashton Goodfield, head of municipal bonds at DWS, said on Thursday, noting that tax-exempt valuations versus taxable alternatives have been holding near record lows. Goodfield said investors have built cash balances over the last year as demand for income was high and interest paid on cash investment was near zero. In addition, other supporting factors are the high credit quality nature of the muni market, recently buffeted by fiscal support, as well as the demand for tax-exempt income at the same time the notion that tax rates for wealthy individuals could increase during the current administration. There seems to be no end in sight to the healthy demand for municipal bonds in the primary market as evidenced by recent and new fund flows, agreed a New York manager of underwriting and trading.
Source: Bond Buyer.

The Kansas Supreme Court earlier this week issued administrative rules for Kansans who want to sue over a COVID-19 order under newly passed law Senate Bill 40. The new emergency rules took into account that some may not be represented by an attorney, a news release said. But those who fail to follow the rules in requesting a court hearing shouldn’t be rejected and be given opportunity to comply. SB 40 lets any person who is aggrieved by a COVID-19 order or restriction to bring to court a request to get relief from the order. Such a hearing would have to be held within 72 hours and a decision be made within a week after that. In cases like this, the government would have to prove the high standard that the order was narrowly tailored and was the least restrictive means; otherwise, relief is granted.
Source: CJonline.com.

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 Kansas Association of School Board Boards has hired an attorney to look into possible price gouging. The Newton school district, which saw a gas bill more than six times what it usually receives, is among the districts planning to fight back. …The attorney looking into schools’ gas bills will potentially represent up to 178 public school districts across the state. Kansas has 309 public school districts. There is also word that the University of Kansas and Kansas State University are involved in the case. With what it’s facing, the fear for the Newton school district is that ultimately, students could pay the price. “What we want the public to understand (is) the ultimate losers are students because when there’s less money within the school district, there’s less money to fund programs. There’s less money,” the Newton school district explained.
Source: KWCH.

The State of Kansas, Community Development Block Grant – CV3 (CDBGCV3) program has been awarded an additional $4.5 million in addition to CARES Act funding. This program has been a powerful tool in helping Kansas communities retain jobs and businesses during the pandemic.
CDBG – CV3 Program:
• This program will award an additional $4.5 million in CARES Act funding.
• CDBG – CV3 eligibility will be limited to community Economic Development projects that are retaining jobs.
• Awards will be made in accordance with federal CARES Act funding and HUD.
• Awards are made when no other funds are available.
Eligible applicants:
• All cities and counties in the State of Kansas that were not awarded CDBG – CV1 and CV2 grants.
• All cities with a population under 50,000 and all counties with a population under 200,000.
*Cities and counties including Kansas City, Wichita, Topeka, Lawrence, Leavenworth, Manhattan, Overland Park and Johnson County are not eligible to apply.
Application Process:
May 1, 2021 – Application available online
June 1, 2021 – Application deadline
July 1, 2021 – Awards announced
The Department of Commerce will present an Informational Webinar for CDBG – CV3 funds, which will be held via Zoom on April 21 from 10:00-11:30.
Registration is required. Sign up here: us02web.zoom.us/meeting/register/tZUpf-mqrDosH9XEYMhGe4BnGgX0N_2ewzDJ.
If you have questions or need assistance with grant applications and administration, contact Rose Mary Saunders or Crystal Hinnen.

The Santa Fe Trail is turning 200. This international highway of sorts began in 1821, running from Franklin, Mo., to Santa Fe, N.M., which was part of Mexico at that time. Kansas is the only state that is crossed in its entirety by the trail. The Santa Fe Trail Association has created activities and events to celebrate this historic milestone. The SFTA Quivira Chapter, which covers McPherson, Rice and Barton counties, designed activities to help youth and adults learn more about the SFT and its place in local history. On April 17, a program featuring tales of buffalo soldiers will take place in Great Bend, and a camp teaching youths and adults how to be re-enactors will occur this summer.
Source: Hutch News.

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.

Lawrence will be awarded more than $1.6 million in funding from the latest federal pandemic relief package to increase affordable housing and other supports to address homelessness. The U.S. Department of Housing and Urban Development recently announced that as part of the American Rescue Plan it will allocate nearly $5 billion to help communities across the country create affordable housing and services for people experiencing or at risk of experiencing homelessness, according to a HUD news release. The supplemental funding is allocated through the HOME Investment Partnerships Program to 651 grantees, including states and local governments. The $5 billion includes $39 million that will be allocated to the state of Kansas. Of that, the City of Lawrence will receive $1.64 million, according to HUD allocation tables.
Source: LJWorld.com.

A flurry of diverse credits in the primary helped to guide the secondary with the 10-year falling below 1% on both Bloomberg BVAL and IHS Markit as municipals continue to grind lower. One-year municipal debt has fallen to record lows with benchmark yield curves at 0.05%. The yield currently on the 30-year municipal triple-A hovers at or just below the 10-year U.S. Treasury. New deals in both the competitive and negotiated markets were oversubscribed…
Source: Bond Buyer.

The governor didn’t sign or veto the Energy Choice Act, merely letting it become law. Now, no Kansas municipality can put a ban on the use of natural gas, a result desired by those in the natural gas industry. This comes after fears that cities would have done so after Berkeley, California, put a ban into place in 2019. The city of Lawrence had opposed this bill, as it had committed previously to powering the city with all renewable energy by 2035. With the act now law, it’s going to complicate if not outright stop, that effort.
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.

After a 2-2 vote, the mask mandate for the City of Salina will continue. As it was a topic that concerned many of the citizens who attended the Salina City Commission meeting Monday, the discussion on the mandate was moved up to the first action item of the agenda. The commission heard an update about COVID-19, including infection rates and vaccination rates, from Saline County Health Officer and Health Department Director Jason Tiller.
Source: Salina Journal.

With at least 280 people estimated to be living outside in Lawrence, city and county leaders are preparing for a deeper discussion about the resources and coordination needed to address the issue of homelessness. As part of its study session Tuesday, the Lawrence City Commission received an approximately three-hour presentation on the various services supporting people experiencing homelessness as well as efforts being made by Douglas County leaders. Speaking to the frustration that has been voiced by some in the community about an inadequate response, Mayor Brad Finkeldei said that he hoped the community would soon be making progress.
Source: LJWorld.com.

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.

For those struggling to afford housing or already experiencing homelessness, being approved for housing assistance can seem like a solution is finally at hand. The reality is that even with that money guaranteed, it can be months before recipients of housing assistance are able to find a landlord or property management company willing to rent to them. Dana Ortiz, executive director of the housing support program Lawrence Family Promise and member of the city’s Affordable Housing Advisory Board, said that a family who qualifies for a housing voucher is initially given 90 days to find a landlord, and sometimes that isn’t enough. Ortiz said it’s not uncommon for a family to need one or even two 90-day extensions, or six to nine months total, to find a landlord who will accept the vouchers.
Source: LJWorld.com.

The Topeka Fire Department is one of 200 departments nationwide to participate in the National Fire Protection Association’s second phase of a pilot program mapping out community risk. [Alan Stahl, public education officer with the Topeka Fire Department] said the website can provide the Topeka Fire Department with information it has never had before. He said the department has always known the downtown area can pose a great fire risk because it is a “swell population.” Not as many people live there, but over 18,000 people drive down to work every day. The fire department can use the information to tailor fire prevention programs to specific areas or populations of the city.
Source: CJonline.com.

Barns normally stay put. But a century-old stable in Wilson has the distinction of moving twice. The first time, was just after World War II ended. The second was last Tuesday. The barn was first housed in the center of Wilson, Kansas. After a little less than half a century, it moved to rural Ellsworth County, and now it is back in town. In 1906, this stylish structure wrapped in tin housed racehorses in the city center. When it moved to the country, it housed livestock. Starting on Memorial Day, this historic 40-by-60-foot structure will cater to humans.
Source: Salina Journal.

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.