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An Illinois park district became the only local general obligation credit to default in 2024, according to Municipal Market Analytics.
California's High Speed Rail Authority has until June 2026 to figure out how to close a $7 billion budget hole, said the LAO's principal fiscal and policy analyst at a budget hearing.
Washington, D.C. Mayor Muriel Bowser is delaying submitting her 2026 budget while unresolved budget cuts passed by the House in the continuing resolution and then amended by the Senate to repair the damage remain in limbo.
These institutions will see increased usage if some threats to the market come to fruition.
California plans to price $2.5 billion in new money and refunding general obligation bonds next week, with retail orders Tuesday and final pricing Wednesday.