The 254-unit Nora Pines would be renamed but remain affordable housing. TWG Development is asking the city to issue $17.6 million in bonds for the project, which the developer would be responsible for repaying.
Representatives from the city were in New York City on Thursday to entice investors to buy bonds to fund the new criminal justice center—a milestone in the giant public project.
Mayor Joe Hogsett, in introducing the 2019 city budget Monday night to the Indianapolis City-County Council, presented a plan to issue $120 million worth of debt over the next four years.
Many fund managers and analysts say they’re optimistic stocks can keep rising, even if interest rates continue to climb.
Standard & Poor’s has downgraded Carmel’s debt rating, saying the suburb is “vulnerable to unanticipated economic or operating swings” given its growing debt levels.
Carmel’s total liabilities have swelled to nearly $1.2 billion including principal, interest and other debt payments, according to the Indiana Department of Local Government Finance.
The most recent downgrade was driven by concerns over whether the company hired to design and build the segment will be able to meet its financial obligations.
Standard & Poor’s has issued its second ratings downgrade as delays plague construction of the interstate between Bloomington and Martinsville.
The sale ends a 92-year run of ownership by the Peterson family, which opened the business five years before the onset of the Great Depression and built a preeminent position in the municipal bond business that continues today.
Carmel Mayor Jim Brainard is trying to streamline the city’s debt management with a new Local Public Improvement Bond Bank. But it’s not clear whether his method in creating the bond bank, his choices for key positions, and his proposed combination of smaller bonds follow state guidelines and best practices.
A Senate committee stripped tax increases out of a road funding bill, but the House speaker says the legislature needs to look beyond just the next election.
The U.S. House of Representatives approved a bill by a voice vote that would force banking regulators to classify investment-grade municipal bonds as liquid assets. The bill was written by Rep. Luke Messer, an Indiana Republican.
Main Street and Wall Street are fighting the U.S. Federal Reserve over municipal bonds—and they’re gaining ground.
The rating of AA+ is just below the highest possible.
City Securities Corp. has agreed to pay $250,000 as part of an industry-wide settlement with the Securities and Exchange Commission over disclosure shortfalls in municipal bond offerings.
Moody's Investors Service announced Tuesday it has lowered Chicago’s credit rating to junk bond status, citing unfunded pension obligations and lagging tax revenue.