Kansas Municipal News
Municipal Bond Trends for March 1, 2021
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.
Historically Speaking: How Life Changed in Dodge City Overnight: The Quarantine
One hundred and thirty-six years ago on March 8, 1885, life changed drastically in Dodge City. On that date, Dodge City’s biggest economic boon abruptly ended with the enactment of a quarantine law prohibiting the introduction of Texas long horn cattle into Kansas and, most importantly, Dodge City. City fathers and business owners knew there would be no more seasonal visits by the Texas cowboys and their long horns. For the past 10 or 11 summers, these cattle drives had been the economic mainstay for Dodge City.
Source: Dodge City Daily Globe.
Leading judges, legal experts push specialty courts as key justice tool in reducing recidivism
Specialty courts across the state are receiving high praise from criminal justice advocates and experts for their effectiveness in reducing recidivism rates for those who embark on the “therapeutic” process. These courts are an attempt to address the systemic causes within the criminal justice, whether it be an addiction, mental health disorders, or aiding veterans with demons they carry from their service. Defendants enter into agreements with the court and proceed through a vigorous program, generally 18 months long, with intense supervision from the judge and other professionals. Upon completion of the vigorous program, typically 18 months long, the judge may expunge the conviction or reduce a probationary sentence.
Source: Kansas Reflector
Kansas House signals support for bill requiring construction notice of ‘abominable’ utility poles
Kansas House legislators cast support Monday behind a bill increasing community regulatory oversight for construction of urban electric transmission mega poles. The legislation was sparked by a 2018 Westar Energy — now Evergy — project, in which the utility company installed dozens of 105-foot transmission lines in a low-income neighborhood of northeast Wichita. Residents criticized the project for damaging property values and argued these poles would not have been installed in wealthier neighborhoods. A measure in response to the construction project would require an electric utility company to provide at least a six-month notice before beginning construction of these behemoth transmission lines in any city with a population of 300,000 or more. They also would be required to hold an open house with public comment.
Source: Kansas Reflector
New Riley County health order starts Monday, lifting most restrictions on bars and restaurants
A new Riley County health order goes in to effect Monday giving bars and restaurants more freedom. Aside from the mask requirement, bars and restaurants are now back to pre-pandemic rules. Bars and restaurants in Riley County can now operate at full capacity and stay open until 2:00 a.m. Bartenders can now take orders from customers at the bar, which was not allowed under the previous order. Scott Sieben is the owner of Kite’s Bar & Grill, Rocking K’s, and Mr. K’s Cafe and Bar in Manhattan. He said this is a big step towards putting the past year behind them.
Source: KSNT News
Wichita police: Squatters’ shotgun went off as cops moved furniture in vacant house
Police say two squatters, a 46-year-old man and a 43-year-old woman, have been jailed in connection with a case where three Wichita officers were wounded by a shotgun blast at a south-side home that was supposed to be vacant. James Alden Hathorn and Tiffany Lynn Vulgamore were arrested Sunday morning at the home in the 1400 block of South St. Francis where the officers were injured the previous afternoon. Wichita police detectives checking the home caught the pair as they were trying to enter it, the police said in a Monday afternoon news release.
Source: Local News | Wichita Eagle
Study: Wichita falls behind Topeka, Lawrence on share of Gen-Z renters in state
Wichita ranked third on a recent list of the top-five cities in Kansas with the largest number of Gen-Z renters, according to a report published last week by RENTCafé, an online listing website for rental properties. Wichita fell behind Topeka and Lawrence on the list, which is based on rental application data from RentGrow Inc. That means the youngest Kansans — renters 24 and younger — are so far more likely to rent elsewhere, despite all of Wichita’s efforts to attract and retain young talent.
Source: Wichita Business Journal
Johnson County to begin vaccinating those 65 and older this week
After weeks of focusing its clinics on those 80 years and older, the Johnson County Department of Health and Environment expects to expand its vaccination distribution to people 65 and older this week. First dose vaccine appointments for people older than 80 should wrap up with Tuesday’s planned clinics, county health director Sanmi Areola, Ph.D., said. Clinics for those in the 65-79 age group should begin Wednesday.
Source: Prairie Village Post
Shawnee residents will be able to play pickleball on remade tennis courts at two city parks
Pickleball lines and nets will be part of the new tennis courts coming to Listowel and Herman Laird parks in Shawnee. Shawnee is planning to replace the aging tennis courts at both parks and also get new fencing and court lighting. Listowel Park is located at West 71st Street and Quivira, and Herman Laird Park is on Johnson Drive near downtown.
Source: Prairie Village Post
Fed policy changes could be coming in response to bond market turmoil, economists say
While the Federal Reserve may not raise its benchmark interest rate for years, there are growing expectations it may tweak policy soon to address some of the recent tumult in the bond market. The moves could happen as soon as the upcoming March 16-17 Federal Open Market Committee meeting, according to investors and economists who are watching recent action closely and expect the central bank to address some distortions that have occurred. One possible move would the third iteration of Operation Twist, a move the Fed last made nearly a decade ago during market tumult around the time of the European debt crisis. Another could see an increase in the rate paid on reserves to address issues in the money markets, while the Fed also might adjust the rate on overnight repo operations in the bond market.
Source: CNBC – Bonds
Eight cases of COVID-19 UK variant discovered in Sedgwick County
Kansas public health officials have identified eight new cases of the UK variant of COVID-19 in Sedgwick County. The cases, all found in the same household, bring the total number of UK variant cases in the state to 10, the Kansas Department of Health and Environment said Monday. The first two cases in the state were found last month, one in Ellis County and a second in Sedgwick.
Source: Local News | Wichita Eagle
Are curbside cocktails here to stay? Kansas lawmakers push for permanent to-go liquor
To-go liquor sales, a lifeline for many Kansas restaurants and bars, could become a permanent option even after the pandemic subsides. The Kansas House passed a measure Monday that permits bars and restaurants to continue offering curbside pick-up for alcoholic beverages. The to-go provision was due to expire March 31. It was included as an amendment to a bill authorizing some businesses to sell 3.2%, or low-alcohol, beer. “This permanent change will create certainty and continue to be helpful for many restaurateurs,” said Rep. Kristey Williams, R-Augusta, the amendment’s sponsor. “This reform would allow closed restaurateurs, closed business owners to put dollars back in their pocket by simply streamlining the law.”
Source: Wichita Breaking News, Sports & Crime |
Yoder store transports customers to a bygone era
Many people often wish time would stand still, technology would disappear and they would once again get closer to the earth. In the little town of Yoder, that wish can become a reality. Yoder Hardware sits at the center of this town whose population fluctuates at around 200. Like the hardware store’s owner, much of the population in Yoder is Amish. Because of the local presence of both Amish and Old Order Mennonites, the hardware store carries items that cater to this population, who do not use electricity from public utility lines, own a car, television or radio. Like many of his fellow Amish, Delmar Eash, the owner of the hardware store, uses gas and solar power to heat and light up the store.
Source: Hutch News.
Municipal Bond Trends for February 26, 2021
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.
Rising interest rates may continue to test the stock market in the week ahead
The tug-of-war between stocks and rising bond yields could set the tone for the coming week, particularly if positive economic data continues to push Treasury yields higher. Friday’s February employment report is the highlight of the week’s data and an important current look at the impact of the virus on the economy, after just 49,000 jobs were added in January. For February, economist expect to see 218,000 jobs added, and the unemployment rate should stay the same at 6.3%, according to Dow Jones. Fed speakers are also a major focus of the markets, after the rapid rise in bond yields this past week had the feel of a runaway train. Fed Chairman Jerome Powell is the most important speaker, when he appears at a Wall Street Journal summit Thursday.
Source: CNBC – Bonds
Munis end month quietly after largest sell-off since April
Municipal bonds were little changed Friday after a sell-off in global bond rates helped send muni yields more than 40 basis points higher on the 10- and 30-year triple-A benchmark since the rout began on Feb. 17. The market took a much-needed breather Friday and U.S. Treasuries pared Thursday’s losses to see the 10-year fall 12 basis points to 1.42% and the 30-year 17 basis points to 2.11%. Municipals were steady at 1.14% in 10 years and 1.82% in 30 years as trading was light but steady and participants readied for a new month and about $6.2 billion of new issues to kick it off…
Source: The Bond Buyer
City of Winfield: Customers will not get unpayable gas bills
The Winfield City Commission met on Thursday night to declare a local State of Financial Emergency due to the unprecedented natural gas pricing that occurred beginning Feb. 12 thru approx. Feb. 19. We have no immediate supply concerns and the current daily index has returned to previous lower norm pricing around $2.70/MMBtu. Just a week ago prices were over $400/MMBtu. We continue to gather the scope and full impact of the extreme pricing. We are fighting the pricing battle everyday. Whatever the amount, we will not be sending homeowners and businesses unpayable bills. We will work with our customers just as we have for nearly 150 years.
Source: Cowley CourierTraveler
Sedgwick County ends curfew on bars and restaurants
Sedgwick County’s top health official has lifted the curfew on bars and clubs, allowing them to stay open until 2 a.m. beginning Saturday. During the county’s briefing on Friday, Deputy County Manager Tim Kaufman said the infection rate us under 5% for the first time since early October and news case numbers are going down. County Health Officer Garold Minns issued a new COVID-19 health order on Friday that lifts the 12:00 a.m. curfew. Normal hours can resume as of 12:01 a.m. Saturday.
Source: KAKE – News
Derby HOA brings Little Free Library to high traffic area
If use can be found for a Little Free Library in a cow pasture near Mount Sunflower, a mile and a half from the Colorado border, then surely it could benefit the Derby community. At least, that was the thought that crossed the mind of Derby resident Diane Quantic. Quantic lives in the Hamilton Estates development near the intersection of Beau Jardin and James Street. Having known about the idea behind Little Free Libraries – a nonprofit geared to “promote literacy and the love of reading by building free book exchanges worldwide” – Quantic thought Hamilton Estates would be a perfect location given the foot traffic.
Source: Derby Informer | News
‘If you don’t have any sites, you have no projects’: Heermann explains the $1 million land purchase heard around Emporia
The Emporia Gazette received a number of questions after the Emporia City Commission’s split decision to purchase 88 acres of farmland located at 1503 E. Logan Ave. for $1 million, last week. Some residents questioned how the purchase price was reached, while some questioned the need for more land for industrial development. Others wondered why — and how — the deal was pushed through so quickly. We spoke to Kent Heermann, president of the Regional Development Association, to discuss the purchase. Heermann said the purchase is the latest in a long list of examples of the city’s nearly 70-year push for industrial development.
Source: Emporia Gazette