Municipal News & Jobs

A dispute over the cost of natural gas during a major freeze in Kansas last winter between the Lawrence school district and its energy provider has been resolved through a legal settlement. However, the details of that settlement have not been publicly released, and it’s unclear how much public funding is being spent on the district’s gas bill for that time period. Additionally, as part of the settlement the district is switching natural gas providers, which will lead to a rise in the district’s annual gas spending.
Source: LJWorld.com.

Douglas County leaders have approved changes to the animal control code that aim to improve how the county handles issues such as dogs running loose, displaying threatening behavior or harming people or other animals. As part of its meeting Wednesday, the Douglas County Commission voted unanimously to approve revisions to the county’s animal control code for unincorporated or rural areas, including provisions related to nuisance animals, vicious animals and reckless pet owners. The code changes come as the county prepares to transition the handling of animal control from the Douglas County Sheriff’s Office to the Lawrence Humane Society, and Commission Chair Shannon Portillo said she thought the updates to the code and enforcement method would make the county more responsive to concerns.
Source: LJWorld.com.

Yields indicate the central bank won’t raise short-term rates above 2%, suggesting to some investors either economic weakness or market complacency. … the yield on the seven-year Treasury note has climbed this year from 0.643% to 1.353% as of Wednesday. But that is still very low, given investors now expect the Fed to raise rates in just six months or so. The implication from bond yields generally is that the Fed won’t ultimately lift rates higher than about 1.5% to 2%, according to analysts. By comparison, Fed officials have indicated they believe the fed-funds rate, the rate at which banks can lend excess reserves to each other overnight, will reach 2.5% over the longer run—the same as the so-called terminal rate reached in 2018 at the end of the central bank’s last cycle of rate increases.
Source: Wall Street 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.

The City of Derby heard public feedback Tuesday night on a project developers say would bring a quarter of a million people to town each year. The project is called “Crystal Lagoons,” a tourist attraction with a public beach, aquatic sports, hotels and more. The plans come with a hefty price tag, about $130 million. Last month, the Derby City Council voted to expand its STAR bond district to fund the Crystal Lagoons project planned for acreage near Rock Road and Patriot Avenue. The proposal for the project comes from the same developers behind the Great Wolf Lodge in Kansas City. “This developer is proposing a public/private partnership to bring in a new attraction, a public-access lagoon where people can do watersports, plus Marriot Suites hotels connected to an indoor waterpark,” Derby City Manager Kathy Sexton said.
Source: KWCH.

Older housing stock, limited options for low-and-middle-income residents and a lack of workers in the skilled trades are among the problems plaguing the state’s housing supply, according to interim findings from a statewide housing survey. The survey, the first of its kind in 30 years, is set to be released in full later this year. But representatives from the consulting firm that handled the report kicked off a statewide tour to unveil a snapshot of the results Monday in Topeka, with no shortage of areas for lawmakers to address. Improving housing access has been a common theme in urban and rural areas alike and economists have pointed to it as a key element in strengthening Kansas’ economy moving forward.
Source: Salina Journal.