Kansas Municipal News
Prairie Village Police Are Enforcing Stay At Home Orders In City Parks
On Wednesday, the first really gorgeous afternoon of the year, a couple dozen people were playing pickleball at Meadowbrook Park at 91st and Nall. That was until two Prairie Village police officers showed up to tell the players they were violating the emergency order limiting gatherings to no more than ten people. It wasn’t quite a bust but the officers came armed with copies of the emergency order issued by the county health department last Saturday. The officers said while the order is enforceable they were there to “educate” people. One player described the officers as “perfectly nice.” When asked if they were driving around looking for gatherings of more than ten people, the officers said no, someone called the pickleball gathering in.
(Read more: )
Fed will have 10 days to begin municipal bond purchases
The Federal Reserve will have up to 10 days after President Trump signs the $2 trillion Coronavirus emergency relief bill to start voluntary purchases of municipal securities through a new Economic Stabilization Fund.
Emily Brock, director of the federal liaison center for the Government Finance Officers Association, said that Federal Reserve officials are hoping to begin muni purchases before the 10 days fully elapse.
The House planned to send that legislation to the White House Friday.
(Read more: The Bond Buyer)
Municipal bond interest rates plummeted for a second straight day on Fed efforts to combat coronavirus impact
Municipal yields are plummeting for a second straight day, with midday AAA benchmark reads showing declines of 50 to 60 basis points as the market rebounds from the massive coronavirus-led selloff of the last two weeks.
The municipal market has navigated massive swings in yields moving up and down over the course of a 12-day period that have become a part of a new dynamic since the coronavirus pandemic hit the U.S. But it appears that the market is accepting the Fed is here to help and buyers are back.
The massive stimulus package expected to be signed into law as soon as the House passes it, likely Friday, could spur the Federal Reserve to begin to buy longer-dated municipals.
(Read more: The Bond Buyer)
Another firm fined for acting simultaneously as the issuer’s financial advisor and underwriter
Ameritas paid $10,000 to settle charges of violating MSRB Rule G-23 on activities of financial advisors.
Between Feb. 10, 2018, and Aug. 20, 2018, Ameritas provided underwriting services for an issue with which it had an active “blanket” financial advisory agreement, therefore acting simultaneously as the issuer’s financial advisor and underwriter, FINRA found.
In 2011, the MSRB amended its Rule G-23 so that a firm with a financial advisory relationship to an issuance of muni securities cannot act as an underwriter for that same issuance.
(Read more: The Bond Buyer)
Hutchinson closes playgrounds
City officials on Thursday ordered all Hutchinson playgrounds be closed to slow the spread of the coronavirus pandemic locally.
Plastic and metal are used extensively within the playgrounds and according to the Centers for Disease Control, COVID-19 can live multiple days on those surfaces.
Although the playgrounds are closed, parks and trails remain open for outdoor activities and exercise.
(Read more: Local – The Hutchinson News)
“Rally Reno” to provide local economic relief
Three local agencies have joined together to launch an online program that enables residents to put dollars in the hands of their favorite retail, service and hospitality businesses, while also helping those affected by layoffs or pay cuts.
The Hutchinson Community Foundation, Hutchinson/Reno County Chamber, and United Way of Reno, with the support of unnamed donors, have created “Rally Reno County.”
The program operates off the basic premise of “buy local, give local.”
(Read more: Local – The Hutchinson News)
With shortage of coronavirus tests, Johnson County might pay private labs to do more
In the face of rapidly rising coronavirus cases in Johnson County and a clampdown on who can get tested, officials on Thursday called for more funds to pay private labs to step up testing.
“Yesterday we spoke with four different labs that are able to carry this out,” said Sanmi Areola, who started this week as director of the Johnson County Department of Public Health and Environment. “The opportunity to do the testing is there, but we do need the resources to be able to implement it.”
The number of confirmed cases of the new coronavirus in Johnson County increased by four Thursday morning, bringing the county’s total to 50, by far the highest in Kansas. Just a day earlier, Johnson County health officials reported an additional 10 cases of COVID-19.
(Read more: Joco 913 News)
Short-Term Treasury Yields Go Negative in Scramble for Cash
Yields on the safest, short-term Treasurys settled into negative territory for the first time in more than four years, as investors continued clamoring for cash and safe dollar assets even as some markets showed signs of normalization.
The one-month Treasury bill yield closed at minus 0.041% Wednesday and the three-month ended at minus 0.046%, the first time they have closed the day below 0% since late 2015, according to Tradeweb. Yields remained in negative territory early Thursday with the yield on the three-month Treasury at minus 0.028%.
(Read more: WSJ.com: Markets)
64,000 newly out of work in Missouri, Kansas as coronavirus shuts down U.S. economy
Nearly 65,000 people in Missouri and Kansas filed unemployment claims last week as the coronavirus shut down many parts of the U.S. economy.
Federal data released Thursday shows that 40,508 Missourians filed initial unemployment claims for the week ending March 21. That’s up from 4,016 the previous week — an increase of more than 900%.
In Kansas, 23,687 workers filed new unemployment claims last week. That’s a spike of 1,250% over the 1,755 Kansans who filed claims the week prior.
Across the country, the seasonally adjusted number of initial unemployment claims filed last week increased to nearly 3.3 million, an increase of more than 3 million over the previous week, according to the U.S. Department of Labor.
(Read more: Kansas City Breaking News, Crime & Sports |)
Wichitans use 3D printers to make face shields for first responders and health officials
First responders and health officials are on the front lines of the coronavirus pandemic. They are battling more than the virus, but also a shortage of protective gear.
“They are in need of face shields and part of the way you can do that immediately is with 3D printing,” said Nathan Smith, WSU Project Innovation Hub Manager.
Wichita Police Department, Sgt. Teddy Wisely is teaming up with other community members to use 3D printers to make personal protective equipment. “Our goal is to produce this equipment, donate it, and help slow the spread of the virus,” said Sgt. Wisely.
(Read more: KSN-TV)
Some private golf courses are open, while Overland Park and Leawood shutter courses during COVID-19 shutdown
Private golf courses in the Shawnee Mission area may be an option for members who want to get outside and enjoy some exercise while practicing safe social distancing.
The golf course at Milburn Country Club in Overland Park remains open for members to use. An email distributed to members on Tuesday afternoon provides instructions and guidelines on practicing safe social distancing, and describes staff’s efforts to keep everyone safe and healthy.
The golf course at Mission Hills Country Club is also open for members only, although golf carts will not be made available.
(Read more: Prairie Village Post)
City manager search down to four in Ark City
Arkansas City commissioners are moving forward with hiring a new city manager, planning to conduct candidate interviews in private tomorrow.
…
Four candidates will be interviewed for a total of four hours in executive session, according to the agenda and information provided by spokesperson Andrew Lawson.
The names of the candidates were not revealed publicaly, but Lawson said all four will be interviewed in person. He also said the commission plans to keep the same general timeline as previously outlined for making a hire.
(Read more: The Arkansas City Traveler)
Chanute says worker quarantine won’t have an effect on water
The Chanute Water Department continues to do routine hourly tests on drinking water despite a city employee in quarantine.
City Manager Jeff Cantrell did not specify that the employee was from the water department, but said the employee having been quarantined would have no impact on drinking water or other utility operations.
(Read more: www.chanute.com)
Lyon County has one more positive COVID-19, one presumed positive
Lyon County Public Health officials confirmed two more cases of COVID-19 in the county Wednesday.
There is one more confirmed COVID-19 case in Lyon County and another patient who is presumed positive, according to Lyon County Public Health.
Wednesday’s announcement doubles the amount of cases in the county.
(Read more: Emporia Gazette)
Lyon County-wide stay-at-home order begins Thursday
Lyon County Public Health Officer Renee Hively issued a stay-at-home order for all county residents during a Facebook live press conference Wednesday morning.
The order … will remain in effect through April 25, unless amended sooner, superseded or rescinded.
“A stay-at-home order was signed by me and the county commissioners yesterday,” Hively said. “What does this mean to you? It means currently all individuals living in Lyon County, Kansas, are ordered to stay-at-home or at their place of residence, unless they are going for reasons of essential activities.”
(Read more: Emporia Gazette)
Municipal Bond Trends for March 25, 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.
Interest rates starting to come back down; Dramatic municipal bond rally reverses recent coronavirus-driven selloff
The municipal market experienced an enormous rally Wednesday, swiftly reversing from the pronounced sell off it had experienced over the course of several wrenching, dislocated trading sessions due to the effects of the coronavirus.
Municipal benchmark yields were lowered by 60 to 80 basis points (0.60% to 0.80%) across the curve. Some trades pointed to nearly a 1% bump on short-term paper.
… The Fed’s actions to buy short-term munis clearly is having a meaningful impact on this market.
(Read more: The Bond Buyer)
MSRB responds to COVID-19 rocking the market
The Municipal Securities Rulemaking Board will be publishing daily data summaries, pushing back comment deadlines and suspending a price alert in response to market volatility and COVID-19 concerns.
The MSRB published its first data summary Wednesday morning and plans to publish them every morning. Since the spread of the virus, the municipal market has tumbled through high “unprecedented” trade volume and large outflows.
“The municipal market touches the lives of every single American because it finances over two-thirds of the state and local infrastructure that is bearing the brunt of the coronavirus crisis,” said MSRB Board Chair Ed Sisk. “Dislocation in this critical capital market damages investor confidence and has an outsize effect on the financial health of communities around the country.”
(Read more: The Bond Buyer)
Sedgwick County has 11 reported coronavirus cases, official says
Sedgwick County now has 11 confirmed cases of the new coronavirus — and Kansas has 126 — the Kansas Department of Health and Environment reported Wednesday afternoon.
The increase in Kansas from 98 to 126 represents a roughly 29% increase and is the first 20-plus increase in a 24-hour period.
Johnson County (44 cases) and Wyandotte County (27 cases) account for about 56% of Kansas cases.
(Read more: Local News |)
County Update: Commissioner Becky Fast on ‘getting through unprecedented times’
During these uncertain times, it’s very important to keep connections alive with your local, state, and federal elected officials to inform them what you are feeling, observing, and thinking. As community spread of COVID-19 continues throughout our region, Johnson County is taking aggressive action to flatten the curve and protect the health and livelihood of our residents.
The County is working closely with regional hospital CEOs, state, and federal health officials, and emergency response officials across the metro area (Jackson County, KCMO, Wyandotte County/KCK). We are working together to mitigate the spread to preserve the capacity of our hospitals for those who need medical care.
(Read more: Prairie Village Post)