U.S. Department of Agriculture (USDA) Rural Development Under Secretary Xochitl Torres Small today announced that USDA is accepting grant applications for the Distance Learning and Telemedicine (DLT) program to help people in rural and tribal communities access remote education and health care resources. The DLT program helps fund real-time, interactive distance learning and telemedicine services in rural and tribal areas to increase access to education, training and health care resources that are otherwise limited or unavailable. This effort is part of the Biden-Harris Administration’s goal that every American has access to affordable, reliable, high-speed internet. Digital equity is an important component of that mission. For instance, the DLT program gives students the opportunity to participate in classes that may be in places that are too far to access.  DLT funds can also help connect rural people virtually to medical professionals without leaving their home. USDA plans to make $64 million available in fiscal year 2023. Of this amount, $12 million is intended for projects that provide substance use disorder treatment services to people in rural areas. Eligible applicants include state and local governmental entities, federally recognized tribes, nonprofits, and for-profit businesses. Applications must be submitted electronically through grants.gov no later than January 30, 2023. For additional information, visit the DLT webpage.

The Municipal Securities Rulemaking Board (MSRB) reported that trading volume reached another record in November 2022, with 1.29 million municipal bond trades recorded. November trades exceeded October’s previous record of 1.25 million trades and was more than double the volume in November 2021. Year to date, municipal bond trade count is up 63% compared to the same period in 2021, likely fueled by individual investor demand, as customer purchases and inter-dealer trades rose more than customer sales. As anticipated in a recent press release, November 2022 was the seventh month in the last eight months with more than 1 million trades being reported to the MSRB. This compares to only eight months in the last 15 years with more than 1 million trades. Meanwhile, increased demand coupled with decreased supply caused tax-exempt benchmark yields to decline by 55-65 basis points during the month.
Source: MSRB

The owner of Hutchinson’s newest coffee shop believes farmers and ranchers are in need of quality coffee and a space to meet. That’s why Rodica Nisly started The Rendezvous Coffee Shop in Pleasantview. The gourmet coffee shop, which opened in late May, serves a variety of signature drinks with freshly ground coffee beans roasted in Galva. The beans come from Free Space Coffee company. The lattes, although they sometimes have names reminiscent of alcoholic beverages, are all alcohol-free. To pay homage to many in the area, Nisly serves up the Farmboy, a blend of butter rum and caramel; the Farmer’s Daughter, which has chocolate and raspberry flavors; and Highway 50, which includes amaretto and chocolate.
Source: Hutch News

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.