The Bond Buyer’s Post

Personal income, corporate franchise, and intangible property tax revenue could flow away from schools to other spending in the triple-A-rated state under Amendment A, raising concerns about future education funding.

Meet our latest class of Muni Hall of Famers, with links to profiles.

Today’s top stories include: Muni advisor recordkeeping brings SEC charges; Transportation P3s on the rise; Meet the Muni Hall of Fame class; Interesting times for charter school sector; Eric Goldwyn on high-speed rail; and constraints for Colorado metropolitan districts. #municipalbonds #muniland #p3 #infrastructure

"The books and records requirements are critical to facilitating Commission inspections and examinations of municipal advisors and in evaluating a municipal advisor's compliance with the applicable federal securities laws," said Rebecca Olsen, deputy chief of the SEC's Public Finance Abuse Unit.

Fed rate cuts "should lead to positive price action for both taxable and tax-exempt bonds, and current nominal yields remain well above where they were when the Fed was more dovish, implying generous room to rally from here," said Matt Fabian, a partner at Municipal Market Analytics, Inc. https://bit.ly/4ep2zW0

The Federal Open Market Committee is expected to cut interest rates at its September meeting, which will also provide a new Summary of Economic Projections. Join us live on September 19 at 1 p.m., as Marvin Loh, senior macro strategist at State Street Global Markets, examines the meeting, the SEP and Fed Chair Powell’s press conference.

The Bond Buyer Hall of Fame induction is happening this week! 🎉 Congratulations to Ken Lind for being one of this year’s esteemed inductees.

Fitch said its move reflects the "diminished margin of the city's available general fund reserves above 15% of spending," while Houston looks for revenue to fund a five-year collective bargaining agreement that increases firefighter pay.

"I think Ed Rendell cared very deeply for the people that he served and represented, be that when he was district attorney or mayor or governor," said Adrian King, a partner at Ballard Spahr who served in Rendell's gubernatorial administration. "He really took into account the struggle [of] real, everyday people."

"Because of the triple-tax-exemption, we expect strong demand for both series of bonds, but especially for the non-AMT bonds," said Pat Luby, head of municipal strategy for CreditSights.