Kansas Municipal News
Municipal Bond Trends for April 23, 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.
Largest solar farm in Kansas starts commercial operation, near Johnson City in SW Kansas
Sunflower Electric Power Corp. and Lightsource BP have announced that the Johnson Corner Solar Project entered commercial operation on April 7. The $37 million project, which was financed and constructed by Lightsource BP, is located approximately two miles southwest of Johnson City in Stanton County, Kansas.
Lightsource BP, a global leader in the development, financing and management of utility-scale solar energy projects, is the project owner and operator. All the energy from the project is being sold under a 25-year power purchase agreement (PPA) to Sunflower, a not-for-profit electric utility providing wholesale generation and transmission services to six member-owners serving in central and western Kansas.
(Read more: Sunflower Electric)
Kansas recognized for wind power generation
Kansas is being recognized for being a leader in wind-generated renewable energy.
Kansas ranks second in the nation for wind energy production as a share of total electricity generation.
The sunflower state is one of only two states with more than 40% of the state’s total electricity produced by wind power in 2019.
(Read more: KSNF/KODE – FourStatesHomepage.com)
Neosho County Community College to receive as much as $800,000 in aid
Neosho County Community College is receiving federal aid totaling more than $800,000.
Students who registered for in-person courses can expect to receive a refund soon.
The college received more than $806,000 from the coronavirus aid relief and economic security, or cares act.
(Read more: KSNF/KODE – FourStatesHomepage.com)
Finney County identifies community spread of coronavirus among Tyson plant employees
Health officials have confirmed multiple positive cases of coronavirus (COVID-19) among employees at the Tyson Foods plant in Finney County.
On Wednesday, the Finney County Health Department said there is evidence of community spread of the disease. Community spread is defined as “five or more positive cases where the source is unable to be traced.”
“This has been determined due to the number of positive cases not related to in or out-of-state travel and evidence of the disease being spread from person-to-person in Finney County,” said Maggie Unruh, Community Health Educator.
(Read more: KWCH News)
Leavenworth County discusses next steps for COVID-19 response
When they met Wednesday, Leavenworth County commissioners were briefed on a process that will be followed as county officials look to begin lifting or modifying restrictions related to the coronavirus. County Administrator Mark Loughry said there will be a slow reopening. But before that can begin, there needs to be adequate testing for the coronavirus. There also needs to be 14 days of a decline in new cases, he said. “I believe our numbers are starting to trend down,” Loughry said.
(Read more: Leavenworth Times)
Lenexa cancels 39th Great Lenexa BBQ Battle, citing health concerns during COVID-19 pandemic
Lenexa this week decided to cancel the Great Lenexa BBQ Battle due to health and safety concerns with the COVID-19 pandemic.
Originally planned for June 26-27 at Sar-Ko-Par Trails Park, the event attracts thousands of barbecue enthusiasts with more than 185 pitmasters, chefs and teams from the region, as well as more than 250 volunteers.
“Unfortunately, we’ve reached the determination that it is necessary at this time to cancel the Great Lenexa BBQ Battle,” said City Manager Beccy Yocham to the city council Tuesday evening. “With so many of the decisions that we make, there’s no way to know what the state of the world is going to be when late June rolls around, but I think as long as we keep public health and safety in the forefront and… err on the side of caution in that regard, that’s the right decision.”
(Read more: Prairie Village Post)
With many unknowns still lingering, Johnson County task force begins difficult process of sketching out reopening plans
The Johnson County COVID-19 Recovery Planning Task Force on Wednesday took the first steps toward developing an outline for a phased reopening of parts of the local economy, though county leaders noted that much uncertainty lingered about when and how stay-at-home orders impacting the county could safely be lifted.
The 14-member group, which includes representatives from the health care sector, the business community, city government, law enforcement and public health officials, convened for the first time via a Zoom meeting. The group discussed the state of community spread, what containment strategies will need to be in place for the economy to reopen, and how the local business community is faring under the restrictions that have been in place for a month now.
(Read more: Prairie Village Post)
Governor signs two Executive Orders as part of her administration’s ongoing COVID-19 response
Governor Laura Kelly signed two executive orders to help the state’s ongoing response to the COVID-19 pandemic Wednesday.
Executive Order No. 20-26 temporarily waives physician supervision or collaboration requirements for certain medical licensees, including advanced practice registered nurses, physician assistants and licensed practical nurses.
…
Executive Order No. 20-27 allows the sale of alcoholic beverages for carryout consumption and permits the sale of liquor in a container that is not the original container for any establishment holding a class A club license, class B club license or drinking establishment license.
“I understand how many Kansas restaurants rely on the sale of alcoholic beverages,” Kelly said. “My administration is doing all it can to ease the burden on Kansas employees and their families who have lost income due to this crisis.”
(Read more: The Miami County Republic)
Louisburg council extends resolutions to aid local commerce
The Louisburg City Council has unanimously approved extending temporary moratoriums to assist the city in managing the stay-at-home orders issued by federal, state and local authorities in response to the coronavirus (COVID-19) pandemic and to ease the burden on local commerce affected by the coronavirus.
During a meeting broadcast on Zoom to maintain social distancing on Monday, April 20, council members extended the temporary moratorium on granting permits for solicitors, canvassers and peddlers (including food trucks) to temporarily prevent these activities and services from taking place inside the city limits.
The council also extended temporary moratorium on the restrictions for temporary signs at commercial locations to help businesses let the public know if they are open and what services they are providing, like drive-thru, while maintaining social distancing.
(Read more: The Miami County Republic)
Olathe plans 2-week furloughs for nearly all city employees to supplement budget deficit
The city of Olathe is planning widespread two-week furloughs for hundreds of employees over the next few months.
It’s the same move other metro governments across the metro face with tax revenues falling.
About half of Olathe’s revenue comes from sales tax. With restaurants, shopping centers and hotels closed, Olathe is looking at an $18 million deficit for 2020.
The multi-million dollar question is: How does the city meet that financial challenge during this pandemic?
(Read more: fox4kc.com | FOX 4 – WDAF)
Health officials open up more testing options in KCK as virus devastates Wyandotte County
Statistics show Wyandotte County is Kansas’ most vulnerable region to coronavirus’ relentless spread.
Free walkup COVID-19 testing is being offered at the Wyandotte County Health Department office on Ann Avenue in KCK. Testing is available every weekday from 1-5 p.m. Health officials at that office told FOX4 they’re even welcoming clients who have no health insurance. Walk-up testing began on Monday morning, while drive-thru testing is still available as well.
More testing options are meant to make testing available to more people. The virus’ spread is devastating in Wyandotte County, when compared to neighboring areas.
(Read more: fox4kc.com | FOX 4 – WDAF)
Shawnee County releases five-tier reopening plan
Shawnee County’s COVID-19 response team has released a five-tier working document it will use to reopen Shawnee County.
The guidelines were released Thursday afternoon and will begin as soon as the state’s stay-at-home order lifts. The working document is based off a best-case scenario and is subject to change.
Tiers will be broken down into 14-, 20- and 30-day increments, Shawnee County Emergency Management director Dusty Nichols said Thursday morning at the Shawnee County commission meeting.
(Read more: Local Government – The Topeka Capital-Journal)
EPA awards $460K to Kansas schools to replace old diesel buses and reduce pollution
Several Kansas school districts, including six in the Wichita area, are receiving federal funding to replace aging buses.
The U.S. Environmental Protection Agency announced in a Thursday news release that 18 school districts in Kansas will get $460,000 to replace 24 older diesel school buses. The new buses will lower diesel emissions and reduce pollutants linked to health problems, such as asthma and lung damage, EPA officials said.
“We believe protecting the health of our children and youth is one of our primary missions,” said Jim Gulliford, EPA Region 7 administrator, in a statement. “Removing old diesel-engines from our roads and replacing them with reduced-emission engines will provide further protection.”
(Read more: Local News |)
In court filing, attorney says 1994 referendum shouldn’t give county ‘carte blanche’ on financing projects
An attorney for a local activist group is arguing that Douglas County’s use of a 1994 sales tax referendum to expand the county jail without a public vote would give the county the ability to debt-finance projects whenever it wants.
William Skepnek, an attorney for Justice Matters, said in a court filing Tuesday that the county’s belief in that authority is “frankly fantastical.”
Skepnek made the argument in his response to the county’s request to have the group’s lawsuit against the jail expansion dismissed. The county’s argument for dismissal is that the 1994 vote provides the county legal grounds to issue bonds to fund part of the $31.1 million jail project.
Read more: LJWorld.com.
Municipal Bond Trends for April 22, 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.
GCCC approves use of housing for quarantine
Garden City Community College Board of Trustees approved a contract with the state for the use of its resident life facilities.
Beth Tedrow, GCCC Board of Trustees member, said through an agreement with the state, the Kansas Department of Emergency Management and the Kansas Department of Health and Environment the college’s apartment housing, Broncbuster Suites and Broncbuster Housing, will serve as quarantine locations for Finney County residents only.
Blake Wasinger, Board of Trustees chair, affirmed that the resident life facilities are not a holding area, they are not bringing in people from outside of the county, and it’s only for Finney County residents.
(Read more: News – The Garden City Telegram)
1976 Hays revisited
This Saturday and Sunday, the Hays Arts Council will reprise on cable television its 2017 authorized showing of the 1976 Swiss-made documentary “A Quiet America.”
The made-for-TV film is about small-town USA as seen through life in Hays. The documentary, shown for the first time here in 2017, was a hit, especially its raucous weekend night scenes of Hays kids dragging Main Street.
“Those were some of the most enjoyed scenes in ‘A Quiet America,’ ” said Meder, recalling the Oct. 14 showing nearly three years ago at the Beach Schmidt Performing Arts Center on the Fort Hays campus.
(Read more: News – The Hays Daily News)
County discusses plan for businesses reopening after stay-home order expires
With Gov. Laura Kelly’s stay-at-home order set to expire at midnight on May 3, Crawford County officials are trying to come up with a plan to allow businesses to reopen, while still ensuring public safety as the coronavirus crisis continues.
County commissioners decided Tuesday that they will meet with County Health Officer Rebecca Adamson next week for a work session to come up with a draft plan for new county guidelines to put in place following the expiration of Gov. Kelly’s stay-at-home order. County officials will then seek input from community stakeholders, potentially including city and Pittsburg State University officials as well as business owners and others, before approving a new policy.
(Read more: Pittsburg Morning Sun)
Area government future finances look bleak amid pandemic
Local governments are preparing for a financial hit due to the COVID-19 virus, although the extent of the financial impact will not be known for months.
Andrew Lawson, spokesperson for the City of Arkansas City, said officials there anticipate lost revenue due to COVID-19 but will likely not see the hit until May because it takes a couple of months for the city to receive funds generated through its sales tax. Lawson said city officials are already seeing delinquent payments and have frozen all non-essential spending. The city has no upcoming projects that require funding because they are in the process of hiring a new city manager, Lawson said.
(Read more: www.ctnewsonline.com)
Frazer ready for challenge of bigger city
Randy Frazer, city administrator of Moundridge, will step into his new role as city manager of Arkansas City next month.
Frazer signed a contract last week to become the new city manager in late May. He said this week he is excited about the opportunity and looking forward to the challenge.
Ark City is more than six times larger than Moundridge, but Frazer said he doesn’t see that as a problem.
All cities deal with the same basic problems, he added. The big change will be dealing with a larger budget.
“But there is also a larger staff, and some staff that is more specialized in some of the areas where I have had to wear those hats,” he said. “There will be a learning curve, I’m sure.”
(Read more: www.ctnewsonline.com)
CARES Act update may extend loans to public hospital districts
Pending federal legislation to pump more money into the depleted loan program created to help small businesses weather the economic shock of the coronavirus will give public hospital districts a bite at the apple. Language in the bill to provide new funding for the Paycheck Protection Program, passed by the U.S. Senate Tuesday and slated to be approved by the House Thursday, should solve the eligibility problem for smaller hospitals that were created as political subdivisions.
(Read more: The Bond Buyer)
Officials develop draft plan for reopening Sedgwick County after stay-at-home order ends
Sedgwick County health officials and county commissioners are working on a draft Health Recovery Plan for guidelines for reopening the county after the stay-at-home order ends.
The question on many people’s minds is when will things return to a new normal and businesses open back up in Sedgwick County?
Officials have broken it down into four phases. Adrienne Byrne, director of the Sedgwick County Health Department said we are still in phase one of slowing the spread of coronavirus.
(Read more: KSN-TV)
Hutchinson, Reno County brace for financial impact of COVID-19
A $1.3 million deficit is what the city of Hutchinson is now facing with sales tax revenue down. Starting Sunday, the city will cut overtime for police officers and implement voluntary furloughs. If the budget doesn’t get better by June, the city could cut salaries and do long-term furloughs and layoffs.
Reno County will slash more than $1 million from the budget. …Each department will lose between $1,000 and $120,000. They’ll save money by not filling open positions and not buying cars.
(Read more: KSN-TV)
Phillipsburg approves loans for local hotels
To help the local hotels through the current economic downturn, the Phillipsburg City Council approved at their regular Monday meeting to offer $2,500 loans to the community’s three hotels. The interest-free loans are being offered with an 18-month term and will be funded from the city’s Industrial Development Fund (IDF). The IDF is funded by 1 mill annually and can only be spent on economic development that will benefit the city.
(Read more: Phillipsburg, KS)
Legislative session delayed, two-thirds of lawmakers at risk of contracting virus
The Kansas Legislature’s leadership postponed resumption of the session Wednesday to protect two-thirds of lawmakers considered at risk of being infected with COVID-19, a decision likely to compel Gov. Laura Kelly to issue a new statewide emergency declaration and potentially jeopardize millions of dollars in federal aid.
Lawmakers were scheduled to reconvene April 27, but concern about undermining health of House and Senate members led the bipartisan Legislative Coordinating Council to abandon that plan. The LCC voted unanimously to delay a decision on resumption of work at the Capitol to no later than May 6. The governor’s overarching emergency declaration for Kansas will expire May 1.
House Speaker Ron Ryckman and Senate President Susan Wagle, two Republicans on the LCC, said the governor could retain all her emergency authority by issuing a new disaster declaration. The process doesn’t allow her to simply extend the existing order.
(Read more: Local – The Hutchinson News)
Wyandotte County facing huge budget shortfall as many businesses remain closed
The coronavirus shut downs are hitting people’s pockets hard.
In Wyandotte County, the Unified Government is facing a $15-20 million budget shortfall due in part to all the business closures.
From the empty streets, parking lots and stores, the Legends almost looks like a ghost town.
(Read more: fox4kc.com | FOX 4 – WDAF)
Cities discuss summer programs
The Hiawatha City Commission held its second virtual meeting on Monday evening, and the group spoke with Parks and Recreation Director Stacy Jasper about the status of summer sports and programs, given the extension of the stay-at-home order to May 3 in Kansas.
Jasper said she has been in contact with other local recreation departments, and does not intend to cancel summer activities like some others have done unless it becomes definitively necessary.
(Read more: hiawathaworldonline.com)
Marion County weighs hiring administrator
County commissioners once again discussed hiring an administrator, with support from Goessel resident Mark Voth, Hillsboro city councilman Kevin Suderman, and county commission chairman Jonah Gehring. Voth said an administrator can spend hours doing detailed research on a subject and present the facts to the commission for a decision, which would allow shorter commission meetings and better decisions.
“I see all this time and energy spent on just putting water on things,” Voth said. “I see an administrator as giving you time to vision for the county.”
(Read more: HILLSBORO Star-Journal)
Municipal Bond Trends for April 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.
Overland Park farmers market to open Saturday — but customers won’t leave their cars
Overland Park is planning to open its farmers market this weekend. But worried about large crowds spreading the novel coronavirus, officials said shoppers will be restricted to their cars.
The city was planning to open the market for the season earlier this month — with fewer vendors and a move to a nearby parking lot — but decided to postpone it after several residents complained that the event could lead to more cases of COVID-19. Now, officials announced the market will open in drive-thru format on Saturday in a different location.
Like grocery stores, farmers markets are considered essential operations under metrowide stay-at-home orders. The City Market downtown and Brookside Farmers Market never closed. But many Johnson County cities have postponed their markets as the coronavirus outbreak continues.
(Read more: Joco 913 News)
COVID-19 shutdown slows some major Johnson County construction projects, but not all
Even with construction considered an “essential service” under COVID-19 stay-at-home orders, major development projects across Johnson County are facing setbacks or coming to a halt.
With major public and private projects in the works — including new housing, entertainment complexes, sports amenities, a courthouse and community centers — leaders had expected 2020 to be another year of strong growth in the booming Kansas City suburbs.
Now, from the Interstate 35 expansion to the long-awaited Mission Gateway development, crews are struggling to finish projects due to a shortage of supplies and strict social distancing requirements. Some developers have decided that operating during this time is too risky to employees’ health, shutting down work sites completely.
(Read more: Joco 913 News)
Demand for municipal bonds is reemerging, as new issues see ‘decent’ demand
Trading in the secondary market saw AAA benchmark yields rise by three to five basis points but the primary market showed signs of life with several larger new deals getting done at appropriate levels given current market conditions as the coronavirus continues to ravage state and local credit quality. The municipal market weakened a little but that did not prevent new issue deals from coming in and pricing, as demand for the asset class seems to be gaining steam.
Meanwhile, more issuers are opting to go the private placement route. …
“I think buyers are finally starting to get comfortable at the new levels which we are at,” said one New York trader. “The deals today saw decent demand, which should give the rest of this week’s issues renewed optimism.”
(Read more: The Bond Buyer)
Hutchinson braces for financial impact of covid-19 crisis
The City of Hutchinson’s General Fund Balance is projected to decline by $1.3M for the remainder of 2020 largely due to a drop in sales tax revenue in the wake of the COVID-19 crisis. City Manager John Deardoff, working closely with department heads, has developed a measured approach to addressing the inevitable financial impact.
“We are fortunate to have a strong fund balance, which we have made a priority in recent years. While that exists for unexpected downturns like this, it would be irresponsible to rely solely on that reserve while so many others in our community are tightening their belts,” Deardoff said. “That fund will absorb some of the impact, but we want to make sure to maintain some cushion for the future.”
Phase I was implemented on March 30 and included a reduction of seasonal labor and a hiring freeze in select departments.
(Read more: Hutchinson, KS – News Flash)
Wichita council votes to delay action on deputy position for Wichita mayor
Wichita mayor Brandon Whipple wants to create a position of “deputy to the mayor” or a chief of staff similar to support positions for mayors in comparable cities. He said the position would help with policy research, community outreach, working with city department heads and engaging in efforts to increase transparency and accountability.
After a lengthy discussion during their meeting Tuesday, the city council voted unanimously to hold off on a decision until city manager Robert Layton completes a staffing study. That study should be complete by the end of June.
Whipple said there was a previous position of executive assistant to the mayor, and he wanted to reinstate that position to provide assistance and support to the mayor and city council. He said previous positions have left out some major areas of responsibility.
(Read more: KFDI 101.3)
Wichita City Council tables proposal to hire deputy mayor
The Wichita City Council at its meeting Tuesday tabled a proposal to hire an assistant for Wichita Mayor Brandon Whipple. The mayor wants to establish a deputy mayor position.
The person holding that job would help the mayor research policy and meet with council members, City of Wichita department heads and stakeholders. Whipple says previous Wichita mayors have had similar help and believes establishing the assistant position could improve transparency at City Hall.
Some of Whipple’s critics on the proposal say the city is going through an uncertain time and should not consider adding new staff. Other criticism touches on Whipple’s salary, indicating he’s paid enough to fulfill his responsibilities himself.
The city council could reconsider the issue concerning the proposal for deputy mayor in Wichita at a later date.
(Read more: KWCH News)
Grant program created to help nonprofits
Building on the success of Rally Reno, organizers are expanding the program to help local nonprofits, which face their own challenges during the coronavirus outbreak.
The Hutchinson Community Foundation has allocated $75,000 in donor-advised funds to match with local donations to create a new Nonprofit Response Grant program, explained Aubrey Abbott Patterson, the foundation’s executive director.
The program seeks to partner directly with nonprofits, providing “rapid response grants” to support and build on their services.
(Read more: Local – The Hutchinson News)
Shawnee County restrictions to fight COVID-19 to be relaxed in phases
Within “a day or two” after a statewide stay-at-home order is lifted, Shawnee County health officer Gianfranco Pezzino anticipates he will allow the reopening of most businesses here that were ordered closed to fight the spread of COVID-19, he said Tuesday.
“We want to send people back to work,” Pezzino said during a podcast on CJOnline.com.
He indicated local health officials plan to work in stages to remove the various restrictions currently in place.
“There’s going to be several steps in 14-day increments that can only happen if nothing bad really takes place in the previous period,” he said.
(Read more: Local – The Topeka Capital-Journal)
Sedgwick County gets nearly $100 million for coronavirus fight; but how to spend it?
Sedgwick County will get nearly $100 million to aid in the local battle against coronavirus COVID-19, county commissioners were told Tuesday.
The money, $99.6 million, will come from recent federal action in Washington, Assistant County Counselor Kevin Stamper told the commissioners at a staff meeting conducted online.
The first half of the money is expected to arrive into the county’s bank account “imminently, sometime this week, potentially,” said County Manager Tom Stolz.
(Read more: Local News |)
Grants offered to local businesses in Valley Center
A nonprofit organization is offering financial assistance to businesses in Valley Center that are affected by the COVID-19 pandemic, the Ark Valley News reported.
Main Street Valley Center’s board of directors started a grant program April 13 that allows locally owned businesses to apply for up to $300 in direct support. The grants are available on a first-come, first-served basis until the allocated funds, $9,000, are used up.
The board streamlined the application process too, asking applicants to briefly describe how the social-distancing and stay-at-home orders have affected their businesses. Some shops in Valley Center were forced to shut down because they were deemed nonessential in Sedgwick County’s stay-at-home order. To fund the relief grant, Main Street Valley Center put its Main Street Enhancement Grant program on hold. The Main Street Enhancement Grant program assists businesses that want to improve the appearance of their buildings. Main Street Valley Center is also postponing planned spring and summer activities.
(Read more: Area | derbyinformer.com)
Johnson County creates recovery task force
April 20 the Johnson County Board of County Commissioners authorized the creation of a Recovery Planning Task Force to strategize and implement a phased approach to reopen the economy.
“We recognize and appreciate the serious sacrifices that Johnson County residents have made to flatten the curve, and we also understand the significant economic challenges that businesses and individuals have sustained,” said Ed Eilert, chairman. “We are working on phased plans to restore our economy.”The task force will include many sectors in the economy representing a broad section of Johnson County. The makeup of this task force includes:
• Johnson County Board of County Commissioners representatives
• Johnson County government (Public Health, Emergency Management, County Manager)
(Read more: Gardner News)
Law enforcement asks people to follow social distancing rules while protesting stay at home orders
Local law enforcement is asking people to remember social distancing rules if they’re planning to protest this week.
A group of people said they’re planning to hold a rally in Topeka this Thursday at the Capitol and our local officers said they’re prepared.
The goal of the protest is to express frustration with the governor’s stay at home order.
Lieutenant Adam Winters with the Kansas Highway Patrol said people have a right to peacefully protest, but they have to follow the executive order that requires social distancing.
(Read more: KSNT News)
Johnson County Museum launches regional effort to document COVID-19 experience; Comanche Elementary’s Josiah Enyart receives $1,000 for math education
In an effort to capture this unprecedented time and the impact of coronavirus on the community, the Johnson County Museum is collecting COVID-19 related items to include with the museum’s exhibits. The museum has also launched an online form where people can share their COVID-19 experience.
Residents can visit JCPRD.com/collecting to complete the online form, where they can include a description of their story, photograph, and/or object. The form includes prompts asking participants to share what they miss and appreciate during this time, what their new “normal” looks like, the impact on schooling and businesses, and what objects define this time for them.
(Read more: Prairie Village Post)
Analysts slash two-year state revenue projections by $1.3 billion
Locked-down businesses, surging unemployment and consternation about a possible coronavirus recession Monday prompted downgrading of Kansas’ tax revenue projections in the next two years by $1.3 billion to force state lawmakers into the position of contemplating cataclysmic budget cuts.
The group of economists and analysts responsible for revising state revenue estimates predicted tax collections in the fiscal year ending June 30 would be down by $815 million. In the fiscal year starting July 1, tax revenue was expected to drop off $549 million because of damage caused by COVID-19 in Kansas.
(Read more: State Government – The Topeka Capital-Journal)
10-year yield hits lowest level since March as historic oil plunge stokes fears about the economy
U.S. government debt prices were higher Tuesday morning, after a historic oil price plunge stunned market participants in the previous session.
At 2:45 a.m. ET, the benchmark 10-year Treasury note, which moves inversely to price, was lower at around 0.6130%, while the yield on the 30-year Treasury bond was also lower at around 1.2152%.
It comes after U.S. oil prices tumbled below zero for the first time on record, with crude storage facilities filling rapidly and as the coronavirus crisis ravages demand.
(Read more: Bonds)