In a groundbreaking move, New York City Comptroller Brad Lander has expressed strong support for a policy that excludes fossil fuel infrastructure from the city’s pension investments. This visionary stance positions three of New York’s pension funds—namely the New York City Employees’ Retirement System, the Teachers’ Retirement System, and the Board of Education Retirement System—as
Politics
The Chicago City Council’s recent approval of a $1.5 billion debt refinancing plan has sparked significant discussion regarding fiscal responsibility and long-term sustainability. By postponing a decision during the council’s October 9 meeting, many anticipated an intense debate among aldermen regarding the viability of the strategy. Ultimately, the council’s 35-12 vote established the groundwork for
In a recent meeting held by the Municipal Securities Rulemaking Board (MSRB), significant steps were taken to refine and enhance the regulatory landscape for municipal securities. Taking place on October 23-24, these discussions revealed a proactive approach towards addressing the challenges faced by market participants, particularly concerning the rate card fee setting process. The MSRB’s
North Carolina is currently gearing up to undertake its largest transportation initiative to date, a substantial project that aims to alleviate the infamous congestion on the Interstate 77 corridor in Charlotte. After receiving crucial support from both the Charlotte City Council and the Charlotte Regional Transportation Planning Organization (CRTPO), the North Carolina Department of Transportation
The recent discussions surrounding the Financial Data Transparency Act (FDTA) have sparked considerable controversy within the municipal market. This law, enacted in December 2022, mandates that municipal securities disclosures be reformatted into a machine-readable format. While proponents argue that this could enhance transparency and accessibility to data, many municipal market participants raise serious concerns about
The recent investor conference hosted by Houston Controller Chris Hollins has sparked a heated conflict with Mayor John Whitmire occupying the center stage of this political drama. Mayor Whitmire has raised concerns regarding the integrity of corporate sponsorships for the event, labeling them under a “pay-to-play” framework. This term indicates a potentially unethical practice where
The City of Houston, one of the largest metropolises in the United States, is facing significant fiscal challenges that have become particularly acute due to a series of natural disasters. The need for immediate financial intervention became evident when Texas officials recently allocated state funds to assist Houston with debris clean-up following two severe storms.
As the financial support from the American Rescue Plan Act (ARPA) begins to dissipate, cities across the United States are confronted with the dual challenge of maintaining essential services while grappling with burgeoning debt obligations. The post-ARPA landscape requires effective fiscal management strategies that prioritize not only current needs but also future sustainability. The recent
Houston’s municipal landscape has become the stage for a contentious dispute between Mayor John Whitmire and City Controller Chris Hollins regarding the ethics surrounding an upcoming investor conference. The allegations of ‘pay-to-play’ practices have ignited discussions about financial transparency, governmental ethics, and the potential repercussions for city leadership. Whitmire’s recent calls for an investigation into
Amidst the backdrop of Puerto Rico’s ongoing recovery from its well-documented financial turmoil, the role of public-private partnerships (P3s) has become increasingly pronounced. The recent move by the Wisconsin-based Public Finance Authority to issue $286.2 million in senior revenue bonds on behalf of Puerto Rico Tollroads, LLC marks a pivotal moment in the revitalization of