Federal broadband funding drive evokes a New Deal comparison

Another $42 billion of infrastructure spending dedicated to improving broadband connectivity is moving from federal to state coffers, spurring comparisons to electrification efforts under the New Deal nearly a century ago. The Broadband Equity Access and Deployment Program flows from infrastructure bills spearheaded by President Biden.

Registration has opened for The Bond Buyer Infrastructure conference in Chicago Sept. 12 and 13. Take advantage of early bird rates and save up to $200.

June municipal bond issuance was down 9% from 2022 as uncertainty over Federal Reserve policy and market volatility continued, but the total was still the highest month for volume of 2023. June's total volume was $34.436 billion in 744 issues, down 20% from $37.775 billion a year earlier, according to Refinitiv data, and lower than the $40.843 billion 10-year average.

Watch the acceptance speeches and view some of the photos from our Deal of the Year event in New York City.?

Beating the legally mandated July 1 deadline to produce a balanced budget, New York Mayor Eric Adams and City Council have agreed on a $107 billion spending plan for fiscal 2024. "I am proud to say that we have successfully navigated through these many crosscurrents to arrive at a strong and fiscally responsible budget," Adams said in announcing the handshake agreement at City Hall on Thursday. The $107 billion adopted budget for fiscal 2024 maintains a near-record $8 billion in total reserves while restoring funds to libraries and cultural institutions.

If you missed any of our ESG Week coverage, make sure to check our ESG special section which has all the articles, the podcast and a taped version of the Leaders event.

Dallas is moving ahead with plans to finance the replacement of its convention center and improvements to Fair Park starting with the private placement in August of short-term debt, which would be refunded as part of a sale of at least $1.4 billion of long-term bonds in 2024.

Check out our most recent Rising Stars and the inaugural class of Muni Hall of Famers.

The Puerto Rico Oversight Board Friday approved the commonwealth's fiscal 2024 budget that increases government spending and was already approved by the governor and local legislature. The budget consensus marks a departure from the long history of disagreements between the territory's elected government and the board created by the federal government to restructure Puerto Rico's debts.

Registration is open for The Bond Buyer California Public Finance conference Oct. 18-20 in San Francisco. Take advantage of Early Bird Rate savings of up to $300.

Sandra Kerl, the general manager of the San Diego County Water Authority, retired Thursday after more than 40 years in the public sector. Deputy General Manager Dan Denham will serve as acting GM until the board of directors finds a permanent replacement. Kerl had held the authority's top staff slot since 2019 after 10 years as deputy general manager.

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