Kansas Municipal News
Powell says the Fed could hike rates by 0.75 percentage point again in July
Federal Reserve Chair Jerome Powell said Wednesday he expects the central bank to raise interest rates by a similar magnitude again at the next policy meeting in July. “From the perspective of today, either a 50 basis point or a 75 basis point increase seems most likely at our next meeting,” Powell said a press conference following the central bank’s policy decision on Wednesday. “We anticipate that ongoing rate increases will be appropriate.” “The pace of those changes will continue to depend on incoming data and evolving outlook on the economy,” Powell said. “Clearly, today’s 75 basis point increase is an unusually large one, and I do not expect moves of this size to be common.”
Source: CNBC
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. Ending weeks of speculation, the rate-setting Federal Open Market Committee took the level of its benchmark funds rate to a range of 1.5%-1.75%, the highest since just before the Covid pandemic began in March 2020. Additionally, members indicated a much stronger path of rate increases ahead to arrest inflation moving at its fastest pace going back to December 1981, according to one commonly cited measure. According to the “dot plot” of individual members’ expectations, the Fed’s benchmark rate will end the year at 3.4%, an upward revision of 1.5 percentage points from the March estimate. The committee then sees the rate rising to 3.8% in 2023, a full percentage point ramp higher.
Source: CNBC
Newton resident makes a case to quiet trains
Zelly Walker asked the Newton City Commission to do something about train noise. That something she suggested would be to put in a partial quiet zone during the evening in Newton. To do so, the city of Newton would need to apply for a variance with the Federal Railroad Administration. She mentioned multiple communities in Kansas, such as Dodge City, Parsons, Fort Scott Overland Park, Lenexa, Edgerton and Belle Plaine had all been successful in establishing quiet zones – places where trains don’t have to blare their horns going through intersections.
Walker said Newton is having more trains and they seem to be sounding their horns longer.
Source: Harvey County Now
Pottawatomie County employees to receive mid-year pay raise of 3.5 percent
Pottawatomie County employees will get a slight mid-year pay increase following commission action Monday morning in Westmoreland. Commissioners unanimously settled on a 3.5 percent increase, effective July 1 to help assist employees struggling to stay afloat amid rising inflation. The increase was agreed upon after an initial proposal Monday from County Administrator Chad Kinsley, seeking a 10 percent pay increase for employees, rivaling a 10.5 percent increase Riley County approved last month.
Source: 1350 KMAN
Kansas universities get $24 million to research disaster response tools
A new research initiative is providing universities and colleges in Kansas with $24 million to research how the state can better support residents before and after disaster emergencies. The Adaptive and Resilient Infrastructures Driven by Social Equity, or ARISE, project is a federally funded program through the National Science Foundation. The five-year initiative will partner 17 institutions ranging from universities to business leaders, health professionals and other community stakeholders to advance the resiliency of the state infrastructure. The project involves $20 million in federal funding, and an additional $4 million from the state.
Source: Atchison Globe Now
NOTO bike ordinance changed by Topeka City Council
The Topeka City Council is changing the rules on a recently-passed ordinance that bans bikes from sidewalks in North Topeka. On Tuesday, the Topek City Council voted to continue to allow bicycles, scooters, skateboards and roller skates on sidewalks on Northeast Morse Street and the bridge from Oakland to North Topeka. Starting next month, riders will no longer be allowed on the rest of the sidewalks in the North Topeka Arts District. Shop owners and people who frequent NOTO might be aware of the small sidewalks. This is the main reason for this new city ordinance. Councilwoman Christina Valdivia-Alcala says to her, this seems like a common sense solution and a win-win.
Source: KSNT 27 News
It could cost more to rent a golf cart, buy a membership at Wichita golf courses
Wichita golfers could pay 15% more for memberships and $1.50 more for golf carts if park board-approved increases receive City Hall’s OK. The Board of Park Commissioners will propose the price increases to the City Council sometime next month. The park board agreed on the proposal during a meeting June 13. The plan to raise prices comes roughly three months after the council voted not to privatize the city’s four golf courses. Annual golf memberships vary in price, with the most expensive one $114.44 for a couples’ membership. That means the biggest dollar increase for memberships would be around $17. Director of Parks and Recreation Troy Houtman said the increase would still be affordable and is needed to continue to make a profit.
Source: Local News | Wichita Eagle
ReConnect Program Webinars FY2022
Preparing for ReConnect Round 4
Presented by USDA Rural Development’s Rural Utilities Service (RUS), this webinar will provide information about the ReConnect Program, and help prepare applicants ahead of the next Funding Opportunity Announcement (FOA).
Staff from RUS will conduct two webinars that provide a brief overview of the ReConnect Program and helpful tips about assembling portions of the application ahead of time. Both webinars will cover the same information:
- What applicants can do now to prepare for the next FOA
- System registration and applicant identification requirements
- A high-level look at eligibility requirements
- Tips on the application system
- An opportunity to ask questions about how to prepare
Slides, a transcript, and a recording of the webinar will be posted on the ReConnect website after the session.
Please note: RUS is also planning a series of ReConnect webinars and workshops which will focus on the upcoming FOA, key portions of the application requirements, and the entire application system.
Webinar Dates and Times
Both webinars will cover the same information; no new information will be added to the second webinar. Please register for the session that’s most convenient for you:
Wednesday, June 22, 2022 from 1:00PM to 3:00PM Eastern
Wednesday, June 29, 2022 from 1:00PM to 3:00PM Eastern
You can also find registration links at the events page on the ReConnect website.
Here’s everything the Fed is expected to announce, including the biggest rate hike in 28 years
The Federal Reserve on Wednesday is expected to do something it hasn’t done in 28 years — increase interest rates by three quarters of a percentage point. In response to soaring inflation and volatile financial markets, the central bank will hike the rate that banks charge each other for overnight borrowing to a range of 1.5%-1.75%, where it hasn’t been since before the pandemic crisis began. … Goldman Sachs said new language in the statement could indicate that the rate-setting Federal Open Market Committee “anticipates that raising the target range expeditiously will be appropriate until it sees clear and convincing evidence that inflation is moderating,” implying a high bar for reverting to [25 basis point] hikes.”
Source: CNBC
Lack of affordable and other housing options in Lawrence highlighted in homeless needs report
City leaders on Tuesday heard some of the findings of a study that examined homelessness in the area as well as factors that affect the community’s ability to address the issue, including the shortage of affordable housing options and a lack of permanent supportive housing. As part of its meeting Tuesday, the Lawrence City Commission received a presentation from the University of Kansas Center for Public Partnerships and Research on the 2021-2022 Douglas County Homelessness Interim Needs Assessment. Some of the key early findings of the study are that the current housing options in the community are not enough to meet the needs of those experiencing homelessness or those at risk of experiencing homelessness.
Source: LJWorld
Douglas County leaders hold hearing about proposal for new city
The County Commission will have the final say in deciding whether Clearfield may incorporate as a new city, and Wednesday night’s hearing is a requirement in the process for doing so. During the hearing, commissioners will hear testimony from people who reside within the 18-square-mile territory that petitioners are proposing as the new city’s boundaries. There are more than a dozen factors that will ultimately inform the commissioners’ decision, including the likelihood of significant growth there or in adjacent areas within the next 10 years and the new city’s proximity to other cities nearby.
Source: LJWorld
Municipal Bond Trends for June 14, 2022
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 rise further ahead of Fed rate hikes
Municipals were weaker amid larger losses in U.S. Treasuries while equities ended mixed as markets were quieter ahead of the FOMC rate-hike decision Wednesday. Triple-A benchmark yields were cut five to eight basis points, depending on the scale, while USTs rose six to 11 basis points. Muni-to-UST ratios were at 66% in five years, 84% in 10 years and 99% in 30, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five at 67%, the 10 at 83% and the 30 at 98% at a 4 p.m. read. In the primary, J.P. Morgan Securities priced for Riverside County, California, $360 million of 2022 tax and revenue anticipation notes, with 5s of 6/2023 at 2.15%, noncall.
Source: The Bond Buyer
City Council votes to end extra sales tax, improvement district in northeast Wichita
Wichita City Council members voted unanimously Tuesday to end an extra one-cent sales tax that helped fund public improvements to go along with a development near K-96 and Greenwich Road. The district northeast of the interchange includes the Wichita Sports Forum and a number of restaurants and retail stores. The district was created for a 22-year term that would have ended in October, 2036, but strong retail sales growth in the area will allow the city to pay off the bonds on the public improvements and end the tax on September 30th of this year. The sales tax that was in effect in the district was used to finance improvements at the K-96 and Greenwich Road interchange. Interim assistant city manager Kathy Sexton told the council that the tax can be ended because it has successfully raised the amount needed to pay for the interchange.
Source: 101.3 KFDI
Rose Hill taking design submissions for fall festival
The city of Rose Hill recently opened up competition for its 2022 fall festival button design contest, open to all Rose Hill and USD 294 residents. The theme for this year’s festival is “Our Roots Run Deep – 135 Years & Growing.” Button designs must be drawn in a 6-inch circle on plain white paper. The exact drawing is copied from the entry – not redrawn or touched up in any way. The words “Rose Hill Fall Festival” and “2022” must be on the design, and no computer designs will be accepted.
Source: Derby Informer | Area
Emporia to offer tours of Carnegie library
The city of Emporia will soon offer tours of the old Carnegie library building, located at 110 E. Sixth Ave. The library will be open at 2 p.m. Tuesday, June 21, and 10 a.m. Thursday, June 23, for tours. The city said each self-guided tour will be approximately 30 minutes long. The Emporia City Commission received an extensive report on the building in April, and on May 11, the city received a letter of interest for the building.
Source: Emporia Gazette
Special meeting planned on vacant homes, local rentals in Emporia
Some influencers in Emporia talk about a lack of housing. But more homes than you might think sit empty — and some have been unoccupied for years. “We’ve got, in a recent count, over 130 vacant houses — that is, duplex or single-family,” City Housing Specialist Jeff Lynch said. Lynch and the city’s Community Housing Board have called a special meeting for Thursday evening. It has two main topics: a potential city ordinance on vacant houses and registration of all rental property. Empty homes are a concern in cities large and small. Several residents complained to the Madison City Council last week about absentee owners in other states letting properties become eyesores.
Source: Emporia Gazette
Schwindt excited to take on Burrton superintendent role
Just three weeks after Burrton USD-369 began the search process for a new superintendent, the board of education has hired Kara Schwindt to fill its top leadership position. “It was definitely a fast process, but I’m really excited,” she said. “I think right now ‘excited’ is kind of my word. I’m excited to get in and meet staff, meet the community and see what direction we’re going to go.” Schwindt said she was interested in the Burrton superintendent position because she wanted to stay close to the Wichita area to be near family.
Source: Harvey County Now
Human trafficking training course happening in Garden City for law enforcement officers
“The hundreds of survivors that I’ve had the opportunity to work with over the years, they have told me about, ‘I was going to school when this happened to me and none of the adults around me knew what what it was or what to do,’ Phillip said. “‘I was, you know, involved in this, this traffic stop with an officer and he missed it.’ You know, I mean, I hear these stories over and over and over, and we call them miss opportunities. I don’t want to see any more missing opportunities.”
Source: KAKE – News
Lawrence Police reunite 7-year-old boy with his stolen scooter
A 7-year-old boy was reunited with his scooter at Lawrence Police Department headquarters on Tuesday afternoon after the red, three-wheeled vehicle was stolen from outside of an area Walmart while he was shopping with his mother. Brantley Lammo, 7, covered his mouth and appeared overjoyed as a Lawrence officer walked out carrying the recovered scooter, along with a new one and a helmet. “Thank you,” the boy said excitedly.
Source: KC Star Local News