Per-mile pilot exploring gas tax replacement finally advances

A long-delayed U.S. pilot program that would charge drivers by the distance they travel will finally advance with the establishment of an advisory board to oversee the program. The nearly two-year delay in setting up the per-mile charging fee pilot program means Congress will not be able to consider the feasibility of the fees as it crafts the next surface transportation law.

Save the date of Feb. 8 for The Bond Buyer National Outlook conference in New York.

The Chicago Board of Education plans to bring its general obligation bond credit to the market this week for the first time since the Federal Reserve began pushing up interest rates. The $600 million of GO bonds are secured by the full faith and credit and taxing power of the Chicago Board of Education, but designed to be repaid with dedicated state aid revenue. They enter the market with two speculative grade ratings and one investment grade after affirmations across the board.

Read the newest research from The Bond Buyer on how environmental, social and governance factors fit into the municipal bond landscape.?

San Francisco City Administrator Carmen Chu highlighted challenges the city faces and how city leaders plan to solve them when she gave a keynote to The Bond Buyer California Public Finance Conference..

Click to see the first half’s top issuers, underwriters, and financial advisors.

The top bond counsel firms combined for a total of $265.112 billion in 5,327 transactions during the first three quarters of 2023, down from the $291.768 billion in 6,400 deals over the same period in 2022.

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

Municipal budgets are showing resilience which could dampen the need for issuing new debt, even as headwinds have grown to include congressional stalemate that has put the possibility of a government shutdown back on the table. "A federal shutdown has many ripple effects," said Farhadi Omeyr, program director for research and data at the National League of Cities.?

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Municipals were slightly firmer Tuesday as large deals priced in the primary saw yields lowered upon repricing. U.S. Treasuries were firmer out long and equities rallied. Triple-A muni yields were bumped up to three basis points, depending on the scale.

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