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“CSBA plans to actively support a bill introduced by Assemblymember Tony Thurmond that would allow school districts to generate greater local revenue to meet facilities needs by amending current restrictions on bond values. Existing law places a limit on bonds issued by school districts from exceeding a certain percentage of the value of local taxable property – the current limits are 1.25 percent of taxable property value on bonds issued by school or community college districts and 2.5 percent for unified school districts. AB 2429 would amend existing law to raise those limits to 2 percent and 4 percent, respectively.”
“Under the plan, the state would issue $2 billion in bonds, which would be repaid over 20 to 30 years with money provided under Proposition 63, the “millionaires’ tax” for mental health services that voters approved in 2004. Proponents said money from the bond, together with federal and local funding, would finance 10,000 to 14,000 new housing units for the state’s 116,000 homeless people, an estimated 30% of whom have mental illness.”
“When it comes to specific credits, Rosenblum likes a number of munis from California. The state’s school districts benefit from voter approval of a property tax to support their debt, he says. And the state’s economic growth has been strong, though there are signs of a slowdown. Most local governments are highly rated.”