Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
Municipalities issuing general obligation promissory notes under section 67.12 (12) of the Wisconsin Statutes may now take advantage of a statutory maximum maturity date of 20 years. 2023 Wisconsin Act 128 (the “Act”) took...more
We are at the initial stages of a major paradigm shift that has significant implications for the municipal market over the next five to 10 years. A number of societal mega-trends will present material challenges for the...more
Sometimes the first step to solving (or mitigating or avoiding) problems is to identify what the problem may be to, among other things, put time on one’s side. For issuers of tax-exempt municipal bonds, there tend to be...more
On August 29, 2019, an Illinois court denied a petition by a political activist and a hedge fund seeking leave to file a lawsuit claiming that approximately $16 billion of Illinois’s general obligation bonds (“GO Bonds”) were...more
The resolution of the City of Detroit’s bankruptcy proceeding may have wide-reaching implications regarding the treatment of general obligation bonds, underfunded pensions and health care obligations, as well as the use of...more
A bill has been introduced in the Pennsylvania Senate by Senator Mike Folmer (R-Lebanon) and others which would, among other things, dramatically change the process by which municipal financings are reviewed by the Department...more