Municipal bond yields continue to drop after large deals get done

The municipal market saw yields grind lower Thursday by as much as seven basis points on the short end. Triple-A benchmark yields on the long end declined four basis points. Yields on all triple-A benchmark curves out to nine years are now below 1%. The largest bumps were again on the very short end of the curve. Utah brought a surprise AAA general obligation deal that saw yields bumped six or seven basis points in a repricing while more inflows were reported. Refinitiv Lipper reported municipal bond funds inflows of $581.943 million in the week ended May 13 after experiencing $408.424 million of outflows in the previous week.
(Read more: The Bond Buyer)

Ranson Financial2020-05-15T09:24:12-05:00May 15, 2020|News|

Emporia discusses potential budget cuts

City Finance Director Janet Harrouff gave Emporia City Commissioners recommendations on potential budgetary cuts that could be made as the city continues to navigate the financial effects of the COVID-19 pandemic Wednesday morning via Zoom. The recommended cuts are a proactive measure at this time, Harrouff said, to help mitigate any lost tax revenue in the coming months. So far, the city has not seen a decrease in property tax or sales tax revenues because of how they are distributed. “With property taxes, we receive a distribution in January and a distribution in June from the county for the big ad valorem payments,” she said. “The distribution we received in January was higher than what we had budgeted, so we really won’t know the exact amount of the decrease in ad valorem taxes until we get our payment in June.”
(Read more: Emporia Gazette)

Ranson Financial2020-05-15T09:24:58-05:00May 14, 2020|News|

Wichita mayor announces phased-in approach to reopen city, local programs

Wichita Mayor Brandon Whipple announced Thursday the city’s four-tier plan to reopen the city amid the coronavirus pandemic. Whipple said city employees are preparing safety protocols, supplies, information and signage for city hall and other city buildings. “We want to not only to get back to the services that people expect but also make sure that we are having extra emphasis on public safety,” said Whipple.
(Read more: KWCH News)

Ranson Financial2020-05-15T09:25:55-05:00May 14, 2020|News|

Some Lawrence leaders open to idea of tolled express lanes on SLT as long as existing lanes remain free

City leaders indicated they were more open to using tolls to fund the expansion of the western leg of the South Lawrence Trafficway as long as some lanes would still remain free. As part of its meeting Tuesday, the Lawrence City Commission received an update from the Kansas Department of Transportation on the study to expand the western leg of the SLT using both open-access lanes and tolled express lanes. Decisions on whether any portion of the potential expansion will be tolled have yet to be made, but consultants with HNTB, who are working with KDOT on a study for the project, told the commission the tolled expressway was an option they want to consider.
Read more: LJWorld.com.

Ranson Financial2020-05-14T10:29:05-05:00May 14, 2020|News|

Lawrence leaders say they favor budget cuts over tax increases in the face of revenue loss due to COVID-19

Lawrence city commissioners said they were largely uninterested in raising taxes to make up for the millions in revenue that the city projects it will lose because of the coronavirus pandemic, but they aren’t ruling out any options right now. As part of its meeting Tuesday, the City Commission received updated 2020 revenue projections to account for the pandemic and resulting economic slowdown and directed city staff regarding several policy decisions impacting the budget. Those included how much of the city’s savings commissioners are willing to spend down
Read more: LJWorld.com.

Ranson Financial2020-05-14T10:28:07-05:00May 14, 2020|News|

Some restaurants look to provide outside dining; city to consider more flexibility for downtown restaurants

When restaurants begin to reopen for in-house dining, some of those dining options will actually be outside. As part of its meeting Tuesday, the Lawrence City Commission voted unanimously to approve changes to the city’s temporary special event permitting process that allow businesses more flexibility in how they use their properties, and additional options are being discussed. Interim Planning Director Amy Miller told the commission that her office has been in contact with a lot of businesses, specifically restaurants, that are looking at ways to use their private parking lot to serve customers.
Read more: LJWorld.com.

Ranson Financial2020-05-14T10:27:07-05:00May 14, 2020|News|

Municipal Bond Trends for May 13, 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.

Ranson Financial2020-05-14T10:22:55-05:00May 14, 2020|News|

KDHE updates travel-related quarantine guidelines

In response to the COVID-19 pandemic, The Kansas Department of Health and Environment (KDHE) will issue regular mandates on travel-related quarantines for international, domestic, and cruise-related travel. People in Kansas are asked to quarantine for a period of 14 days starting from the day they arrive in Kansas. Regularly check this list to stay up-to-date on travel-related guidance. Please refer to the KDHE Isolation and Quarantine FAQ for additional information. (Note: these mandates do not apply to critical infrastructures, as defined by the Department of Homeland Security, including healthcare and public health, needed to continue operations during this pandemic.)
(Read more: Atchison Globe Now)

Ranson Financial2020-05-14T10:15:38-05:00May 14, 2020|News|

‘He’s going to be so very missed’: Community remembers fallen Overland Park officer

Overland Park Police Officer Mike Mosher was laid to rest Wednesday. People came from near and far to pay their final respects. “I want to make it very clear that my dad is not gone. He’s just not here,” Mike’s daughter Tyler Mosher said. Things came to a standstill Wednesday afternoon, as family, friends, law enforcement and community members gathered to remember the Overland Park police officer. “He’s going to be so very missed,” Christy Zeeff said.
(Read more: fox4kc.com | FOX 4 – WDAF)

Ranson Financial2020-05-14T10:15:49-05:00May 14, 2020|News|

Marion County Commissioners continue planning for summer

Marion County Health Department Health Administrator Diedre Serene explained to the Commissioners during their May 11 meeting that cases will not be taken off the case count once they have recovered. The number will not go down. “At this time all of our cases are out of quarantine (minus the one death) and they pose no risk to the community at this time,” said Serene. “The KDHE has very good guidance for business owners as well as families. As we learn more about the virus, the guidelines change as well as while we move through these phases. And don’t forget to wear masks, uses good handwashing, and practice good social distancing.” Serene explained that the suggestion to wear the mask is only a suggestion but a very strong one.
(Read more: Hillsboro Free Press)

Ranson Financial2020-05-14T10:16:15-05:00May 14, 2020|News|