The Westfield City Council approved issuing a $5 million general obligation bond for a new roundabout, new police vehicles, a fire truck, public safety equipment and early-stage investments in a roundabout and two road reconstruction projects.
The $32 million plan includes 160 apartments, more than 400 parking spaces, and 30,000 square feet of commercial space for retail or office uses.
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.
The steady-and-not-so-slow-anymore returns for cash, plus expectations for even more market volatility in 2019, means strategists along Wall Street are seeing cash as a viable investment option for the first time in years.
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.
Here’s a little-known fact: The city of Indianapolis has an ownership stake in two of downtown’s most luxurious hotels and has received nearly $1.2 million so far from one of the investments.
Three former City Securities fixed-income experts have joined Noyes, giving the firm’s new bond unit more than 150 years of sector experience.
Six experts talk about what the new administration, rising Fed rates, oil prices, Brexit and more mean for 2017.
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.
