$400 million STAR bonds district could be coming to former golf course in Park City

11 Wednesday, January 11

$400 million STAR bonds district could be coming to former golf course in Park City

info2023-01-11T08:33:49-06:00January 11th, 2023|

Park City on Tuesday took the first step in the possible creation of a new STAR bonds district at the former Echo Hills Golf Course. The City Council voted to approve a resolution to hold a Feb. 14 hearing about the sales tax and revenue bonds, which would create a potentially $400 million district that could include an aquarium and other museum and entertainment venues, restaurants, hotels, athletic complexes and residential uses. “To me, it’s a win for Sedgwick County and south-central Kansas,” said city administrator Sean Fox. “We’re talking millions of folks who will be coming to south-central Kansas on [...]

11 Wednesday, January 11

Municipal Bond Trends for January 10, 2023

Henry Schmidt2023-01-11T08:16:18-06:00January 11th, 2023|

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, Beth Warren and Henry Schmidt.

10 Tuesday, January 10

Fed’s Bowman says there’s ‘a lot more work to do’ to bring down inflation

info2023-01-11T08:35:21-06:00January 10th, 2023|

Federal Reserve Governor Michelle Bowman said Tuesday she expects more interest rate increases ahead, with higher rates to prevail for a while until inflation is subdued. "I am committed to taking further actions to bring inflation back down to our goal," the central bank official said in remarks prepared for a speech in Florida. "In recent months, we've seen a decline in some measures of inflation but we have a lot more work to do, so I expect the [Federal Open Market Committee] will continue raising interest rates to tighten monetary policy." Source: CNBC

10 Tuesday, January 10

SEC, market need to hammer out uncertainties in muni disclosure law

info2023-01-11T08:36:20-06:00January 10th, 2023|

A controversial new law requiring cities and states to standardize their disclosure raises a bevy of questions that market participants and regulators will need to answer to pave the way for implementation. That's the message from Ernesto Lanza of Ballard Spahr, who wrote a white paper on the newly passed Financial Disclosures Transparency Act along with the firm's Teri Guarnaccia and Kimberly Magrini. "The ability to collect data in a structured way makes a lot of sense, but it's going to be an interesting journey to get to something that works," Lanza said. "There's a lot of uncertainties to be dealt [...]

10 Tuesday, January 10

Iola weighs merits of development costs

info2023-01-11T08:37:11-06:00January 10th, 2023|

Iola City Council members will mull over a request for an incentives package to entice a developer to build a series of duplexes at the north edge of town. The request from Gabriel Woodman of Merak Development, Springfield, Mo., comes with a stiff price tag, Council members acknowledged Monday. Woodman has requested the city extend at least two blocks of streets into the undeveloped land at what was once Cedarbrook Golf Course, at an expected cost of $1 million. Woodman is also asking the city to donate the land for what will be 10 duplexes. Source: The Iola Register

10 Tuesday, January 10

Lawrence and Douglas County seek public’s feedback on draft wind regulations

info2023-01-11T08:37:34-06:00January 10th, 2023|

Lawrence and Douglas County community members are invited to a meeting Thursday and an open house on Jan. 30 to discuss a new draft of wind energy regulations. The Lawrence-Douglas County Planning Commission directed city staff members to review Wind Energy Conversion System (WECS) regulations “in order to better align the wind regulations with recently adopted solar regulations,” according to a news release from the city. The draft regulations are now available for public comment... According to the release, “A WECS is a system of wind-driven generators that convert wind energy into electrical power. An individual machine is also referred to [...]

10 Tuesday, January 10

Kansas House leadership lay out united plan for 2023 session

info2023-01-11T08:38:13-06:00January 10th, 2023|

There are eight major areas that Republicans are calling their "a better way" platform. It covers almost everything impacting Kansas today, from taxes and workforce development to education and healthcare. "Yesterday was pretty much a ceremonial today, [now] we get to work and we all are ready to get to work," said Representative Dan Hawkins. For the Republican leadership of the Kansas House and Senate, getting back to work Tuesday meant laying out their plans for this year's legislative session, releasing its platform called "a better way." "The senate president and I started talking four months ago," Hawkins said. "And the [...]

10 Tuesday, January 10

Stocks (and Interest Rates) Tick Higher With Fed Officials’ Comments

info2023-01-10T09:28:09-06:00January 10th, 2023|

U.S. stocks rose, as investors parsed Fed remarks indicating a higher-for-longer rates outlook and awaited comments from Fed Chairman Jerome Powell. Yields on U.S. government bonds edged higher Tuesday. The yield on the benchmark 10-year Treasury note climbed to 3.595% from 3.516% on Monday. ... Mary Daly, president of the San Francisco Fed and Raphael Bostic, president of the Atlanta Fed, in comments Monday both highlighted that interest rates would need to rise above 5% and remain there for some time. The Fed’s benchmark rate is currently a range of between 4.25% and 4.5%. “The critical question on everyone’s mind right [...]

10 Tuesday, January 10

Topeka to punt on car insurance

info2023-01-10T09:17:46-06:00January 10th, 2023|

Motor vehicle insurance is mandatory for all drivers in Kansas. But city governments aren’t required to carry it, and Topeka city manager Stephen Wade has decided to not renew the city’s vehicle coverage. Topeka’s city government is consequently becoming self-insured, in a move anticipated to save it $250,000 a year, city attorney Amanda Stanley told The Capital-Journal. Topeka’s city government has alternated over the years between carrying vehicle insurance and exercising its option of being self-insured, Stanley said. Lawrence’s city government self-insures its vehicles, with accidents involving those vehicles being investigated by the Lawrence Police Department and the city’s risk management [...]

10 Tuesday, January 10

Reno County Commission expands

info2023-01-10T09:15:35-06:00January 10th, 2023|

The Reno County Commission expanded from three commissioners to four on Monday, during the commission’s first meeting of 2023. Voters had extended the commission in November, during a countywide vote, moving the body from three to five commissioners. Due to the resignation of Mark Reese in late December, a new commissioner needed to be appointed. The Reno County Republican Party nominated John Whitesel to fill the vacant position. Source: Hutch News