Bonds

New York’s Metropolitan Transportation Authority and the Transit Innovation Partnership have launched a “COVID-19 response challenge” to engage the private tech industry and rapidly evaluate and deploy innovative technologies that make public transit safer in light of the pandemic. “To truly modernize every element of how we run our transit system, you have to look
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The public agency that manages St. Louis public transit hits the market as soon as Tuesday with a refunding to ease near-term COVID-19-induced revenue strains. The Missouri-Illinois Metropolitan Bi-State Development Agency is selling $171 million of combined lien mass transit sales tax appropriation refunding bonds including $13 million of tax-exempts and $158 million of taxables.
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BNY Mellon Capital Markets has agreed to pay $35,000 to settle charges it violated a municipal securities rule after the Financial Industry Regulatory Authority found it didn’t submit accurate variable rate demand obligation interest rate information. The New York-based firm agreed late last week to pay the fine and be censured while neither admitting nor
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The Puerto Rico Oversight Board approved a fiscal plan expected to increase property tax revenues to the island’s municipal governments by 26%. The governments have been struggling financially. The move Friday afternoon is an attempt by the board to free localities from depending on central government subsidies. Puerto Rico Executive Director Natalie Jaresko said improving
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KeyBanc Capital Markets has hired veteran municipal banker and project finance specialist Nathan Flynn to bolster its Midwestern presence, the firm announced this week. Flynn recently joined the Cleveland-based firm’s Indianapolis office as a managing director. He will cover Indiana, Midwest governments and non-profit entities, and will work on project finance opportunities nationally. Flynn will
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The Rialto, California-based West Valley Water District either lacked nearly half of its internal financial control measures, or they were not functioning effectively, leading to questionable hiring, spending, and contracting practices, according to State Controller Betty Yee’s audit, released Thursday. Of the 48 fundamental components, principles, and attributes of effective internal control systems — as
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The Federal Reserve put a spotlight on job losses and risks to the financial sector in its semi-annual report to Congress released Friday. “Despite increased resilience from the financial and regulatory reforms adopted since 2008, financial system vulnerabilities — most notably those associated with liquidity and maturity transformation in the nonbank financial sector — have
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