Kansas Municipal News
Ruling: Kansas sheriff not entitled to immunity from lawsuit
A Kansas sheriff is not entitled to immunity from a lawsuit filed by the family of an unarmed black man who was shot in the back following a police chase, a federal appeals court ruled Friday. A three-judge panel of the 10th Circuit Court of Appeals found that Harvey County Sheriff Chad Gay is county official when performing law enforcement functions. Unlike a state official, the sheriff is not entitled to Eleventh Amendment immunity when sued for damages in his official capacity, the court said. The decision comes in the civil lawsuit filed by the family of Matthew Holmes, a 24-year-old black man with schizophrenia, who died after McPherson County Sheriff’s Deputy Chris Somers, a white man, shot him in the back during an arrest in August 2017. The incident began when police suspected Holmes in a car burglary and he led them on a vehicle chase.
(Read more: KAKE – News)
Woman sues Scott City and mayor over deleted Facebook posts on COVID-19 response
A woman is suing the mayor and government of a Kansas town, accusing them of violating free-speech rights by squelching social-media criticism over their response to the coronavirus. Tracy Chambless says in the lawsuit that Scott City and its mayor, Everett Green, have sought to “control the public discourse on topics of public concern, such as the COVID-19 pandemic and the government’s response thereto.” Green declined to comment on the lawsuit last week, saying he hasn’t had a chance to consult with a lawyer that will be provided by the city’s insurance carrier.
(Read more: Local News |)
Rural grocery stores are seeing a boom in business amidst the pandemic
The pandemic has changed the way some people buy groceries, many turning to smaller stores. Rural grocery stores are seeing a boom in business. As big grocery chains increase restrictions, many locals in Minneola are turning to their Hometown Market. The store’s business is thriving. “Our trucks have increased by over 50%. Every truck. Just because we’ve seen that much increase in the groceries going out,” said Hometown Market store manager, Tamie Kirk.
(Read more: KSN-TV)
Local school district distributes free produce to the community
The Auburn Washburn School District gave out nearly 900 cases of fresh produce Thursday morning. Hundreds of cars lined up to get the fresh food, causing a backup leading all the way to the street. The boxes were made available to anyone free of charge, thanks to a partnership with the U.S Department of Agriculture. Staff at the school knows that these events will not only help the kids, but also their families who are struggling during this time.
(Read more: KSNT News)
Legislative session reaches volatile end, GOP slashes Gov. Laura Kelly’s power in COVID-19 emergency
Kansas legislators pulled the curtain on the 2020 session after a tedious and combative 24-hour workday that ended early Friday with passage of restrictions on Gov. Laura Kelly’s authority to manage the COVID-19 pandemic and extension of the state’s emergency declaration through the end of the month. Republicans from the Senate and House crafted an emergency powers bill preserving the flow of federal aid to Kansas and compelling Kelly to secure approval for orders from a oversight panel. The governor is implementing a phased reopening of the Kansas economy, but has been criticized for pace of that transition.
(Read more: Local – The Topeka Capital-Journal)
Wichita flag inspires swimming pool design
The design of a Wichita pool is making a big splash. “It’s definitely something that we didn’t expect to take off. It was something to just truly give back to our residents and give them something nice and fresh and it has yeah, somewhat went viral,” said Mt. Carmel Village Property Manager Cody Stout. Stout said it was about time to give the complex’s community pool a facelift. He and some of his staff started tossing around ideas.
(Read more: KSN-TV)
Flags to be flown at half-staff in honor of Victims of the Novel Coronavirus Pandemic, Friday to Sunday
In accordance with Executive Order 20-30, and following the proclamation of President Donald J. Trump, Governor Laura Kelly has ordered flags throughout the State of Kansas to be flown at half-staff, from Friday, May 22, 2020, to sunset on Sunday, May 24, 2020 in honor of the Victims of the Novel Coronavirus Pandemic. “The death toll due to coronavirus is devastating in Kansas and beyond,” Kelly said. “We all have an obligation to honor those lost to the virus, to include courageous frontline workers who literally gave their lives to help and protect others during this pandemic.”
Municipal Bond Trends for May 21, 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.
Kansas policy lets exposed meatpacking workers stay on job
Kansas softened its quarantine guidelines for meatpacking plants after industry executives repeatedly pushed state officials to allow employees who were potentially exposed to the coronavirus to keep working, text messages and emails show. The Kansas City Star and The Wichita Eagle reported that they obtained messages through an open records request showing that executives at Tyson and National Beef pushed Kansas Secretary of Agriculture Mike Beam to advocate more-lenient federal Centers for Disease Control and Prevention guidance. Beam told The Associated Press on Wednesday that his role was to “emphasize internally” in Gov. Laura Kelly’s administration that there would be major problems with the nation’s food supply if the plants shut down. Beam worked for the Kansas Livestock Association for 38 years before becoming agriculture secretary in 2019. “It was a balancing act, and I basically was feeding that into the mix,” he said.
(Read more: 1350 KMAN)
Mortgage delinquencies surge by 1.6M in April, the biggest monthly jump ever
Delinquencies among borrowers for past-due mortgages are soaring, a sign that Americans are struggling to pay their bills due to a wave of layoffs or lost income from the coronavirus pandemic. Mortgage delinquencies surged by 1.6 million in April, the largest single-month jump in history, according to a report from Black Knight, a mortgage technology and data provider. The data includes both homeowners past due on mortgage payments who aren’t in forbearance, along with those in forbearance plans and who didn’t make a mortgage payment in April. At 6.45%, the national delinquency rate nearly doubled from 3.06% in March, the largest single-month increase ever recorded, and nearly three times the prior record for a single month during the height of the financial crisis in late 2008, Black Knight said.
(Read more: andoveramerican.com)
Food, utility assistance available through new, extended programs
The Department for Children and Families, in collaboration with the Kansas State Department of Education, announced the creation of a Pandemic Electronic Benefit Program. The P-EBT program will help families who have been impacted by school closures due to COVID-19 to purchase food for their children. The Low Income Energy Assistance Program, which helps low-income households with utility bills, has also been funded for a new program, with applications accepted through May 29.
(Read more: Community – Morning Sun)
KC’s Power and Light District set to reopen Friday
The Power and Light District is planning to reopen on Friday, and that could include several street cafes. The plan is for 14th Street to be closed to traffic to allow street cafes room to operate. But there could be more on the way depending on what city council decides to do. City leaders have talked about street cafe options for several weeks. This would allow restaurants to serve food and in some cases alcohol on sidewalk and street space in front of the store front.
(Read more: fox4kc.com | FOX 4 – WDAF)
Marion County decides to reopen county offices
Diedre Serene, Marion County Health Department Administrator, gave her weekly update at the beginning of the May 18 Marion County Board of Commissioners meeting. She stated that it doesn’t make sense to test for COVID-19 if a person doesn’t have symptoms. “You could be negative today and turn positive tomorrow. Testing negative today does not even tell if you were exposed or not. It just tells if you are growing the virus,” said Serene. Serene explained how the Governor’s new orders for phase 1.5 impacts Marion County. She said the county is in line to follow the Governor’s orders so she has not added any extra orders for the county but has issued some guidance.
(Read more: Hillsboro Free Press)
Swimming during the pandemic: What the CDC wants you to know before you hit the pool
Looking forward to hitting the local public swimming pool for the first time this summer? Prepare to put a face mask in your tote bag, although you won’t need to wear it in the water. On Wednesday, the U.S. Centers for Disease Control and Prevention published new guidelines for operating swimming pools during the coronavirus pandemic. The documentation arrives just a few days before Memorial Day weekend, when many outdoor pools typically open for the summer season. “There is no evidence that the virus that causes COVID-19 can be spread to people through the water in pools, hot tubs, spas, or water play areas,” the CDC said on its website. “Proper operation and maintenance (including disinfection with chlorine and bromine) of these facilities should inactivate the virus in the water.”
(Read more: Lifestyle – The Garden City Telegram)
Reno County salt and historical museums announce reopening
The Reno County Museum and Strataca: Underground Salt Museum will both reopen to the public on Tuesday, museum officials announced. “During the interim, the organization is making all the necessary preparations to ensure the protection and safety for the staff and our guests,” said executive director Michael Ables. “When the museums reopen, our guests will see some necessary changes.” For example, frontline staff will wear face masks, Ables said.
(Read more: Local – The Hutchinson News)
How To Safely Enjoy Kansas State Parks During Memorial Day Weekend
Kansas’ 28 state parks, 63 state fishing lakes, and more than 100 wildlife areas remain open to the public and will be popular destinations over the Memorial Day holiday weekend. From camping and horseback riding, to boating and disc golf, there’s no shortage of fun to be had at Kansas Department of Wildlife, Parks and Tourism (KDWPT) areas, but visitors must remain steadfast in practicing social distancing, among other safety measures, to ensure these special places remain open and accessible to all. “We want visitors to enjoy themselves, so long as social distancing is practiced,” Kansas State Parks director Linda Lanterman said. “Our staff have done an incredible job maintaining our parks, and ensuring that facilities remain open, but it’s ultimately up to the public to look out for each other and practice social distancing so we can all remain in good health and continue having these beautiful places to recreate.”
(Read more: All Web News)
Overland Park’s 5 outdoor pools will stay closed for summer 2020
As Kansas fast forwards its timeline to reopen the state in phases, Overland Park has put a halt to the idea of any of its five city pools opening this summer. The city was weighing a plan this week that would have opened only Tomahawk Ridge Aquatic Center this summer. But in the end city leaders decided it wasn’t worth the cost and the risk. That plan would have called for Tomahawk to open July 1 to 80 pool guests at a time. Bluejacket, Marty, Stonegate and Young’s would have remained closed ether way.
(Read more: fox4kc.com | FOX 4 – WDAF)
Kansas early childhood educator (from Winfield school district) named 2020 National Teacher of the Year
Teacher Tabatha Rosproy’s preschool class met inside a nursing and retirement home in rural Kansas, forming a bond with residents that continued even when social distancing requirements due to the coronavirus pandemic forced her classroom to close down. After a school year of unprecedented disruptions, Rosproy was chosen as the 2020 National Teacher of the Year for bridging the worlds of her community’s oldest and youngest. Her selection from among 55 award-winning teachers around the country was announced Thursday by the Council of Chief State School Officers, with the selection committee praising her in a statement for embodying “hope and inspiration.” The Winfield school district in which Rosproy teaches established the early childhood program two years ago inside Cumbernauld Village, a retirement community and nursing home that sits on 44 acres in south-central Kansas. One year into the partnership, the program boasted the highest preschool literacy and math scores in the district. But more than that, Rosproy said, her students were “well connected and well loved” and the residents engaged as they snuggled with children while reading stories to them.
(Read more: KMBC.com)
Sedgwick County announces reopening plans
Sedgwick County has released its update on when County offices and buildings will reopen after being mostly closed during the coronavirus pandemic. The main courthouse and the juvenile courthouse will reopen to the public on Tuesday, May 26. Both will have a screening process for visitors. If they pass the screening process, visitors will be issued a mask to wear while in the building. County employees will wear masks when working closely with the public and while in public common areas. Court hearings will be conducted by appointment only.
(Read more: KSN-TV)
Leavenworth to lift playground restriction
Beginning Friday, members of the public will be allowed to use playground equipment at city parks in Leavenworth. City Manager Paul Kramer said signs prohibiting the use of playground equipment will be removed on Friday. “Please just use your best judgment on what you think is appropriate,” he said regarding usage of the equipment. Kramer’s remarks came Wednesday during a virtual town hall meeting hosted by Leavenworth Mayor Mike Griswold.
(Read more: Leavenworth Times)
Lawrence wins census response competition with Manhattan; Manhattan mayor must wear KU jersey
Last month, Lawrence Mayor Jennifer Ananda accepted a challenge from the mayor of Manhattan for the two cities to compete for the highest self-response rate — meaning that residents responded either online, by mail or by phone — to the 2020 Census for each city. It was agreed that the mayor of the losing city had to wear the other city’s university jersey to a City Commission meeting. Ananda announced at the commission’s meeting Tuesday that Lawrence had won the competition, which hinged on which city had the highest self-response rate by May 15. She said that Lawrence and Manhattan had come together as two great cities doing what they could to ensure the state was represented in the census, but that she was glad she didn’t end up having to wear a K-State jersey.
Read more: LJWorld.com.
AG Schmidt issues formal legal opinion on criminal enforcement of emergency orders
Kansas Attorney General Derek Schmidt has issued a formal legal opinion addressing whether a state law that authorizes criminal prosecution of Kansans who violate emergency orders issued by the governor is constitutional and enforceable. The opinion is a consolidated response to separate requests for the attorney general’s legal opinion on closely related subjects from Reno County District Attorney Keith Schroeder, State Senator Richard Hilderbrand, and State Representatives Tory Marie Arnberger, Renee Erickson, Susan Humphries, Brenda Landwehr, Barbara Wasinger and Kristey Williams. The Opinion notes that the Kansas Emergency Management Act (KEMA) places on the governor responsibility to respond to disasters and grants broad authority to do so. Because of the nature of the COVID-19 pandemic, the use of emergency powers has been unprecedented since the KEMA was enacted in 1975, with 31 emergency orders issued by the governor in the past 10 weeks. The Opinion does not address federal, state or local emergency authority outside the KEMA.
(Read more: Kansas Attorney General News Releases)
Leawood City Council approves expedited permits for outdoor restaurant seating
Leawood restaurants now have an easier path to adding outdoor seating as they reopen for dine-in service amid loosening restrictions on businesses in Johnson County and the state of Kansas during the COVID-19 pandemic. The Leawood City Council this week unanimously authorized City Administrator Scott Lambers to temporarily issue expedited permits for the city’s restaurants to add outdoor seating, bypassing the normal planning process. At the council’s Monday meeting, Lambers proposed using the permits because “all the reports on the restaurants that are trying to reopen is that the indoor space requirements are basically a killer.” “They have to really judge whether or not they can justify opening the inside dining given the limited spacing capacity,” he said.
(Read more: Shawnee Mission Post)
Roeland Park, Fairway and Westwood cancel annual Fourth of July fireworks display due to COVID-19 concerns
The partnering cities unanimously agreed that it was in the best interest of public health and safety to cancel the 2020 fireworks display. The cities of Roeland Park, Fairway and Westwood on Wednesday morning announced the cancellation of the joint, annual Fourth of July fireworks display due to the coronavirus pandemic. City officials from all three cities and various departments — administration, public safety, public works and public relations — as well as Bishop Miege High School staff met virtually on May 7 to discuss whether or not to host the annual event. Originally scheduled for July 3 at Bishop Miege, 5041 Reinhardt Drive, the cities decided to cancel the display in an effort “to continue to stop and slow the spread of COVID-19,” according to a press release.
(Read more: Shawnee Mission Post)
Roeland Park sets 2025 deadline to reduce carbon emissions by 28%, approves solar-ready ordinance
The Roeland Park city council Monday evening approved a resolution setting a 2025 goal to reduce the city’s carbon emissions by 28%, in addition to a solar-ready ordinance. Roeland Park’s 28% reduction goal and date complies with Paris Climate Agreement recommendations, and the city intends to achieve its goal by implementing suggested strategies from Dynamhex — the company tracking the city’s carbon emissions — and the Climate Action KC Playbook. Mayor Mike Kelly, Climate Action KC leader, said he appreciated the council’s unanimous approval of the resolution. “I’m excited for all the great co-benefits that will come with [lowering the city’s emissions], public health, economic prosperity and better quality of life for our residents,” Kelly said.
(Read more: Shawnee Mission Post)
Municipal Bond Trends for May 20, 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.
Muni yields lure investors away from corporates
The short end of the municipal yield curve was bumped seven or more basis points, but yields across the curve were lower by at least five basis points. New issues fared well, with large universities pricing deals into a market that rewarded them with 15 basis point bumps in repricings, even though many may not hold in-person courses in the fall. Municipal to U.S. Treasury ratios were attractive, especially on the short end, which drove secondary yields lower. How long investors can stomach yields below 30 basis points on the short end is yet to be determined.
(Read more: The Bond Buyer)
Derby updates overarching list of priorities
With the Derby City Council updating its list of priorities in January, city staff has taken on work to address those items. Mostly, though, that was put on hold because of COVID-19 before staff came before the council with a report at its most recent meeting on May 12. Fittingly, the pandemic has jumped to the top of the priorities list for the city – as response is expected to continue for at least two years, according to staff. How to maneuver through that situation becomes a top priority – whether that’s how to structure meetings, further adjusting city services, updating human resources procedures to meet employee needs, etc. “I think this response will continue for quite a while,” said City Manager Kathy Sexton.
(Read more: DerbyInformer.com – news,news/)
KU school of medicine students graduate early to help rural hospitals fight COVID
A virtual graduation ceremony was held this past Sunday for the University of Kansas School of Medicine but for some newly minted doctors, they graduated a few weeks earlier to help out rural communities in the Sunflower State with their battle against Covid-19. Jesse Voth-Gaeddert is one of those early graduates. “This is, you know, why you go into medicine, because we want to be of service.” He and 20 of his fellow KU Med students took part in the Kansas pandemic workforce volunteer program. It was created in March to help the state’s Covid-19 response. Jesse and another student were sent to Liberal for a week to support their hospital’s ICU nursing staff. “It was kind of exposure into how we can, how we go about working with Covid positive patients and treating them”
(Read more: KAKE – News)
What can you expect? Questions answered following move to ‘Phase 2’ in plan to reopen KS
Friday (May 22) marks a move into a modified version of Phase Two in Kansas Governor Laura Kelly’s plan to reopen the state’s economy. This current, modified phase limits mass gatherings to 15 people, down from 30 in the prior version of Phase Two. In the current timeline of reopening the state, Phase Three could start as soon as June 8 with the state phasing out with many restrictions lifted as early as June 22. Currently under Phase Two, larger entertainment venues, bars, nightclubs, swimming pools and summer camps are among businesses not yet cleared to reopen.
(Read more: KWCH News)
Kansas casinos to open Memorial Day weekend
Most Kansas casinos will re-open Memorial Day weekend. The Boot Hill Casino and Kansas Crossing Casino will both reopen at 8 a.m. and 10 a.m. respectively on Friday pending regulatory approval. The Kansas Star Casino will reopen Saturday (May 23). All guests there will have their temperatures taken when they enter. Some amenities, such as table games and poker room, will not be available. Guests are also encouraged to wear face coverings. “We have missed being your entertainment destination over the last several weeks, and we are excited to have the opportunity to host you again,” an announcement reads on the Kansas Star Casino’s Facebook page.
(Read more: KWCH News)
Annual rodeo a ‘go’ in Kiowa County
The annual Memorial Day weekend rodeo, held each year in Greensburg, was given the go-ahead by the Kiowa County commissioners to proceed with plans for the 2020 event in the midst of the COVID-19 pandemic. Commissioners Bert Lowery, John Bertram and Ron Freeman held a special meeting May 14 to hear discussion surrounding the Greensburg event slated for May 22 and 23 at the Triangle Rodeo Arena. Members of the Triangle Rodeo Club and Medicine River Rodeo Company presented a safety plan to the commissioners.
(Read more: Leavenworth Times)
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)
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)
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 |)
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 |)
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 |)
Municipal Bond Trends for May 19, 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.
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)
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)
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)
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)
Wichita City Council approves coronavirus grant application for fire and police
The Wichita City Council voted 7-0 on Tuesday to approve a grant application for Coronavirus Emergency (ER) Supplemental Funding Program Solicitation. It is administered by the Department of Justice and will be $1,250,185. No local match is required. The funding will provide a new full-time emergency manager for two years and a software program for the Wichita Fire Department. Lastly, supplies and other defined program expenses will be allotted.
(Read more: KSN-TV)
Pittsburg State announces plans for disbursing CARES Act funds to their students
Pittsburg State announces plans for disbursing CARES Act funds to their students. The university will recieve about $2.6 million from the higher education emergency relief fund. This federal assistance will go directly towards students who qualify. Full-time students who meet the qualifications can receive up to $800 and part-time students can get up to $400. Doug Ball, Chief Financial Officer, PSU, said, “Our hope is that this really helps students as their navigating challenges that they may be experiencing related to COVID. And we hope this would be one step in assisting them in continuing their education and making progress towards their degree.”
(Read more: KSNF/KODE – FourStatesHomepage.com)