Municipal Bond Trends for November 15, 2024

The interest rate table above illustrates recent changes in a sample of AA rated bond trades reported to the Municipal Securities Rulemaking Board’s EMMA® system. Every issuer’s credit is different, and other financing sources may be available. To obtain comprehensive Financial Advisory services for your local government, contact your Ranson Financial Municipal Advisor, Larry Kleeman, or Henry Schmidt.

2024-11-16T10:13:24-06:00November 16, 2024|News|

Marshall County sales tax vote passes, narrowly

Eight votes were the difference Thursday as a county sales tax for the local hospital passed by a narrow margin — 2,374 to 2,366 — at the Marshall County Board of Commissioners’ official count of this fall’s general election. The question of whether to renew Community Memorial Healthcare’s countywide half-cent sales tax for another five years was the only special question on the the 2024 general election ballot.
Source: The Marysville Advocate

2024-11-15T13:34:48-06:00November 15, 2024|News|

About 1,500 Kansas students change school districts under new open enrollment policy

Kansas school districts showed caution in allowing transfers through a new open enrollment option that lets students attend school outside their home district, data presented Wednesday to the Kansas State Board of Education showed. About 1,500 students transferred out of their home district under the new law for the 2024-2025 school year, making up just 6% of all district transfers, according to data from the Kansas State Department of Education. Transferring between districts has been permitted for years under different methods, and even with the new law, the total number of students who transferred to a district outside their own declined overall this school year. The new “school choice” open enrollment option was wrapped into an education funding bill in 2022, and it mandated schools accept students who don’t live in the district if they can accommodate them. Students have a right to stay at their chosen school until graduation if they remain in good standing, and districts must set limits ahead of enrollment deadlines on how many students it can accept. Skeptics have said the option works against public schools by making it easier for families who have the means to access better-performing schools and widening an already large gap in public education.
Source: The Lawrence Times

2024-11-15T09:25:10-06:00November 15, 2024|News|

City broadens energy portfolio

Iola City Council members agree it’s a good idea to diversify the city’s energy profile. How? By adding 3-megawatts of power to the city’s energy portfolio through a solar agreement. Recently, the Kansas Municipal Energy Association (KMEA) and NextEra Energy entered into a Power Purchase Agreement (PPA). Through the agreement, KMEA anticipates purchasing up to 90-megawatts of electric energy from a 200-megawatt solar facility called Ninnescah Flats Solar in Pratt County. As a member of KMEA, the City of Iola is eligible to purchase a portion of the energy.
Source: The Iola Register

2024-11-15T09:23:25-06:00November 15, 2024|News|

Kansas Republicans say changes to ‘the most hated tax’ are top priority for next year

For months Kansas Republicans campaigned on promises to take action on property taxes as soaring home values in recent years enraged voters. Now comes the time to deliver. After Republicans bolstered their supermajority in the Legislature in last week’s elections, lawmakers have begun weighing plans for the 2025 session that begins in January. They are emphatic that property taxes sit at the top of the to-do list. “We’ve sort of got a mandate from voters,” said Sen. Virgil Peck, a Havana Republican who sits on the Senate Tax Committee. “The property tax relief issue, I think, is urgent. That is the most-hated tax in the state of Kansas.”
Source: Homepage

2024-11-15T09:20:48-06:00November 15, 2024|News|

10-year Treasury yield jumps on week as Powell says Fed not in a hurry to keep cutting rates

U.S. Treasury yields were higher on Friday, ending a week where the 10-year Treasury yield jumped amid new inflation data and comments from Federal Reserve Chair Jerome Powell that suggested the central bank may not be as aggressive next year with its rate-cutting campaign. The 10-year Treasury yield was last higher by about three basis point to 4.451%. The 10-year rate ended last week around 4.31%. The yield on the 2-year Treasury rose by nearly five basis points to 4.341%. The 2-year yield ended last week around 4.25%. One basis point equals 0.01% and yields and prices move in opposite directions. Investors monitored Powell’s speech on Thursday for hints about future monetary policy decisions. Powell said that strong U.S. economic growth means the central bank won’t need to quickly cut interest rates. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in his speech. “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”
Source: CNBC – Bonds

2024-11-15T09:19:46-06:00November 15, 2024|News|

Powell says the Fed doesn’t need to be ‘in a hurry’ to reduce interest rates

Federal Reserve Chair Jerome Powell said Thursday that strong U.S. economic growth will allow policymakers to take their time in deciding how far and how fast to lower interest rates. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in remarks for a speech to business leaders in Dallas. “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.” In an upbeat assessment of current conditions, the central bank leader called domestic growth “by far the best of any major economy in the world.” Specifically, he said the labor market is holding up well despite disappointing job growth in October that he largely attributed to storm damage in the Southeast and labor strikes. Nonfarm payrolls increased by just 12,000 for the period. Powell noted that the unemployment rate has been rising but has flattened out in recent months and remains low by historical standards. On the question of inflation, he cited progress that has been “broad based,” noting that Fed officials expect it to continue to drift back toward the central bank’s 2% goal. Inflation data this week, however, showed a slight uptick in both consumer and producer prices, with 12-month rates pulling further away from the Fed mandate.
Source: CNBC – Bonds

2024-11-15T09:18:20-06:00November 15, 2024|News|

Governor Kelly Announces Nearly $6M in KDOT Cost Share Program Projects

Governor Laura Kelly announced Thursday that $5.9 million will be awarded to seven transportation construction projects through the Kansas Department of Transportation’s Cost Share Program for fall 2024. This cost-share investment will leverage $9.8 million in community matching dollars for a total investment of more than $15 million. “Infrastructure projects funded through the Cost Share Program aren’t just about roads and bridges; they are about increasing job growth and retention and strengthening the economic climate across Kansas,” Governor Laura Kelly said. “By leveraging this partnership with KDOT, communities are able to address necessary, long-term solutions to their local transportation issues.” The Cost Share Program is designed to help rural and urban areas advance transportation projects that improve safety, support job retention and growth, alleviate congestion, and improve access and mobility. The program is part of the Kelly administration’s 10-year, bipartisan Eisenhower Legacy Transportation Program, or IKE.
Source: Governor of the State of Kansas

2024-11-15T09:16:33-06:00November 15, 2024|News|

Wichita asking for input on bicycle plan

The City of Wichita is asking for public input on an update of the city’s Bicycle Plan. A process was started in 2023 for a ten-year update of the plan and it will go to an advisory board and then the City Council. The goal of the plan is to create a comprehensive biking network that identifies priority projects to make biking safer, more comfortable and convenient, and it is aimed at representing the community’s vision and goals for biking across the city.
Source: 101.3 KFDI

2024-11-15T09:15:27-06:00November 15, 2024|News|

‘Makes me proud to be from De Soto’ — New mural pays homage to JoCo city’s rural roots

A giant goat now looks over a sunflower field facing east from downtown DeSoto. The DeSoto Arts Council, helped by a grant from the Kansas Creative Arts Industries Commission, commissioned Kansas City-based artist Alex Eickhoff to paint the city’s second downtown mural. Council President Leanna Donald said the group had been looking for an opportunity to bring more art to the community, after the first mural of sunflowers by artist Emily Euler was completed in 2018. “We wanted the mural to represents the community’s past and future, have a small town vibe to it, be colorful and fun and of course give a playful nod to the occupants of the buildings,” she said. “It is a colorful and playful mood.” Donald said the Caprine Supply store’s location at the corner of Shawnee and 83rd streets was the perfect canvas for public art. (The store, open since 1978, specializes in feed and products for goats. Hence, the visual references to goats in the new mural.)
Source: Johnson County Post

2024-11-15T09:14:02-06:00November 15, 2024|News|
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