Municipal News & Jobs

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 accepting a developer’s petition to finance street, sewer, and water improvements for a housing development under K.S.A. 12-6a01 et seq., the City of Wichita levied special assessments against David L. and Leslie J. Snodgrass (Appellants), and other property owners in 2004. The City issued bonds to pay for the improvements, then in 2011 issued refunding bonds to benefit from lower interest rates. But the City did not refund to property owners any of the money it saved by doing so. Appellants sued the City and individually named defendants asserting an entitlement to money based on the difference between the interest rate on the original bonds in 2004 and the interest rate of refunding bonds issued in 2011.
Appellants then moved for partial summary judgment, arguing the City’s failure to pass on its savings constituted a “‘taking, under the guise of taxation.'” The City cross-moved for summary judgment. The district court granted summary judgment for the City, finding that the assessment was voluntary, that the alleged injury was too small to sustain a takings claim, and that the action was barred by a 30-day statute of limitations. The court dismissed Appellants’ remaining claims, including those against the individually named defendants. On review, we find the district court properly dismissed Appellants’
claims as untimely and properly granted summary judgment for the City.
Source: Snodgrass vs. City of Wichita

Kansas lawmakers may have a new plan for cutting the state’s food sales tax as the Legislature approaches a pair of deadlines on the governor’s signature policy proposal. Gov. Laura Kelly and the House and Senate tax committees have put forth their own proposals, but none have been debated or passed by either chamber of the Legislature. Rep. Adam Smith, R-Weskan, laid out the concept during a Wednesday conference committee between tax policymakers — a meeting of select senators and representatives to hammer out differences between bills. The plan would cut the state’s 6.5% sales tax rate on food — the second-highest in the country — to 1.5% starting July 1 and 0% a year later. The cut would apply to groceries and some related items, but not to prepared food, such as restaurant meals. It would be “clean” as other tax cut ideas get moved to separate bills.
Source: Salina Journal

In early February, Hutchinson Public Schools USD 308 Board of Education named Dawn Johnson the new superintendent for the 2022-2023 school year. Since then, Johnson said she’s been planning what she intends to do in her first year as superintendent. Johnson’s career in education began more than 30 years ago. She spent the first half as an educator, teaching English to middle and high school students.
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.