The interest rate table above illustrates recent changes in a sample of MBIS “investment grade” yields. 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.
Topeka water mains are breaking significantly more often than they used to. Over the past 10 years, the city averaged 46 water main breaks per month. But in 2023, the city saw a total of 777 water main breaks, which averages out to 64.75 per month.
Source: CJonline
The Federal Reserve announced it will leave interest rates unchanged Wednesday, setting the stage for rate cuts to come — and paving the way for relief from the combination of higher rates and inflation that have hit consumers particularly hard. Although Fed officials indicated as many as three cuts coming this year, the pace that they trim interest rates is going to be much slower than the pace at which they hiked, according to Greg McBride, chief financial analyst at Bankrate. “Interest rates took the elevator going up; they are going to take the stairs coming down,” he said.
Source: CNBC – Bonds
Kansas has rebounded strongly, surpassing the national and the Plains region averages in each quarter of 2023. The state’s growth peaked at 9.4% in Q3 of 2023, significantly higher than the national average of 4.8% and the Plains region of 5.1% in the same quarter. The underlying contribution to the growth within the state over the previous year was agriculture, which was from a combination of prices and drought insurance. Manufacturing regained its strength in the second and third quarters of the year, as agriculture waned slightly. Both industry drivers have fueled additional growth within construction, retail, and government, which picked up in the second quarter. Kansas’s real GDP trajectory indicates an economy that has overcome challenges over the previous decade and is now expanding rapidly. Although it will not likely maintain the top-growing economy in the United States over the next few quarters, it should maintain a more robust economy than its peer states.
Source: WSU CEDBR
By reusing the old box, the Newton Fire Department saved nearly $100,000 when replacing its ambulance. The department had its old ambulance box remounted onto a new vehicle. According to logistics division chief, Joe Martin, this recycling practice is common among departments. “Remounts have come a long way,” Martin said. “It’s becoming an industry norm as budgets don’t keep up with inflation.” Martin said the department was particularly excited by the addition of a power load system to the ambulance. The power load system manually lifts and lowers the stretcher so they don’t have to pick up everyone being loaded into the ambulance. The devices are installed in all the first-out ambulances, according to Martin. The vehicles typically run on seven-year cycles, and Martin said the old vehicle had engine problems, making the department due for a new vehicle. The ambulance has a new design, and Martin said the department was able to save money by using vinyl graphics rather than painting the vehicles. Martin said he knows some departments recycle boxes three or four times, but Newton plans to only reuse them once before replacing them with all-new ambulances to avoid boxes getting too old. Martin added that the department planned to use this remounting method on all its ambulances.
Source: Harvey County Now
USD-440 and the district’s steering committee completed its third and final bond information meeting last week at Bentley Primary School, holding one in each of the three schools. After receiving feedback from the community, the steering committee will have one more meeting to shore up their plan that they initially introduced to the school board in January. With a month to consider the committee’s recommendations, the board will discuss and possibly make a decision on whether to proceed during their Feb. 12 meeting. Steering committee chair Alex Williams said that, to date, the feedback has been overwhelmingly positive. He said the biggest input he’s received is the support for the proposed renovations with the industrial arts and metals facilities. He said that the proposed addition for seventh and eighth grade classrooms connecting to the high school would mean the students would still participate in activities such as sports and music in the middle school facilities. He said that students are already making the trek between the two schools for classes, and the addition would shorten the walk.
Source: Harvey County Now
If you’ve been shopping recently in the Overland Crossing Shopping Center and noticed an extra charge applied to your receipt near the sales tax, that’s a private fee. The fee — that appears on a Whole Foods Market receipt in the center as “OVRLAND GIF” — is a private general improvement fee, or GIF, of 1% on each purchase. Dave Claflin from Legacy Development said the GIF functions similarly to a Community Improvement District or a Tax Increment Financing District, in that the revenue generated by the extra fee pays for improvements within a set area. These private financing arrangements are sometimes called a public improvement fee, and have been used elsewhere in the U.S. In this case, the GIF is paying back improvements Legacy Development did on the Overland Crossing Shopping Center as part of the district’s redevelopment effort, including parking lot improvements, new parking lot islands and new walkways. Claflin said the fee could also be used to help pay for improvements to the shopping center in the future, like HVAC replacements or more parking lot replacements. “That stuff’s an ongoing concern for all shopping centers,” he said. “But especially bigger ticket things that you typically run into when you’re really renovating a center like we did, that’s when you really need it.” Whole Foods Market is one of more than half a dozen stores in the Overland Crossing shopping center that has a 1% charge on all purchased items. Photo credit Kaylie McLaughlin.
Unlike with a CID or a TIF, the city has no authority over the administration of a GIF. Instead, a third party is collecting the fee revenue and administering its distribution to pay back bondholders, Claflin said. “It basically just takes that idea of the TIF and takes the city out of the equation and relieves them of the responsibility of administering it and puts it in the third party’s hands,” he said. City officials stress though that the GIF isn’t a tax.
Source: Shawnee Mission Post
County co-investment in a broadband grant application process was central to Tuesday’s commissioners meeting. KwiKom Communications of Iola is currently seeking the county’s assistance in a $2 million broadband project that will bring internet to the area between Iola and Humboldt, as well as near the airport. “It’s a $1 million Kansas Broadband Acceleration grant, but a $2 million project,” noted John Terry, KwiKom Director of Government Affairs and Business. “The state will be putting $1 million towards this project and KwiKom will be investing $1 million.” Terry clarified that any county contribution will offset Kwikom’s share of the project. Initiated in 2020, the Kansas Broadband Acceleration Grant Program aims to allocate $85 million over a decade to narrow the digital divide within the state. The program plays a crucial role in Kansas’ strategy to eliminate statewide broadband gaps. It focuses on directing funds to regions that are unlikely to have access to broadband service without financial support from the state or federal government. There are approximately 150 service points included in KwiKom’s proposed project. One of the components of the grant is community co-investment. “I’m here to have that conversation and find out if the county can co-invest,” said Terry. At the estimated total project cost of $2 million, each service point would be $13,300. “Obviously, without grant funding, that’s not an attractive build,” added Terry.
Source: The Iola Register
The Johnson County Museum will display the contents of a time capsule discovered in the cornerstone of the 1952 Johnson County Courthouse through May. The new exhibit is called “Inside the Box: A 1951 Time Capsule.” The capsule, a 10.5-inch-by-13-inch copper box at the center of the exhibit, was all but forgotten to history until crews found it while demolishing the old courthouse in downtown Olathe after the new courthouse opened across the street. “A lot actually was stuffed into that box, and it gives a really good picture of the immense change that the county was going through in the post-war era,” said Andrew Gustafson, curator of interpretation and the project leader on the capsule exhibit. The bulk of the items enclosed in the capsule were paper records, like maps, directory books and dozens of letters from elected officials as well as letters from 14 cities in Johnson County. Also included were nearly 50 photographs — including some from the ceremony of dedication for the cornerstone that contained the capsule — and an 18-minute audio tape. Plus, a reel of microfilm museum officials initially believed was unsalvageable was ultimately successfully digitized by a conservator.
Source: Johnson County Post
Bobbi and Guy Barton of Halstead are planning on moving, but they’re doing it a little differently than most people. Instead of just moving out of a house, they’re having the house moved, since they had another one built on their property and live there now. The home where they used to reside in rural Halstead is devoid of people now. “We can’t have two houses on the property,” Bobbi said, adding they wanted someone to move it, versus having to tear it down. Because of Harvey County code, they’re not allowed two houses on one property, Bobbi said. The white house, which is the one someone purchased and is moving, was built in 1900. The Bartons moved there in March 2006, Guy said. “Two years ago, we started building this house,” Bobbi said, meaning the newest home they have. “We knew at the time we would rather have someone take this house,” she added about the older one. It’s 1,700 square feet and has good bones. “We figured we would have to advertise the house to sell it,” Bobbi said, adding that, out of the blue, a farmer named Eddie Weber called and said he wanted to take a look at it. He did and said, “I’ll take it.” “So no advertising needed, thankfully,” Bobbi said. Weber plans to move the house in the spring, when he’ll have it put on his property in rural Halstead. The reason they decided to build was because Bobbi had some injuries.
Source: Harvey County Now
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