Discover and read the best of Twitter Threads about #muniland

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Cook County Judge held hearing this morning on Chicago fire pension fund lawsuit against city of chicago in which fund has asked for (and received) intercept of city's grant funds to cover shortfalls over contributions in FY16,17, and 18. the dispute centers on method
for making contributions - Chicago is fighting with the fire fund over the language of the state pension code, and how to handle late property tax collections, which can lead to shortfalls in the pension contributions.
City says it can use property tax levy + deposits from other funds to make contribution. In other words, the fire fund should absorb any tax collection shortfall. City is asking for judge to issue summary judgement in their favor and credit already intercepted grants toward next
Read 4 tweets
Illinois Gov Pritzker, Treasurer Frerichs and Comptroller Mendoza file 22-page response to early July complaint filed by hedge fund Warlander and head of Illinois Policy Institute that attempts to invalidate $14.3bn of state GO bonds 1/6
State says premise of lawsuit-that state debt act limits bonds to be issued only for specific purposes related to capital projects - is wrong & not that restrictive; complaint brought too late (bonds issued in 2003 & 2017); Warlander lacks standing; that the bulk of the complaint
is really a ideological debate over fiscal policy, which has no place in the courts and is "seemingly trying to appeal to a nonjudicial audience"...
Read 6 tweets
ICYMI: A big week for #GreenBonds & climate finance, with the #SR15 reminding us of the urgency to scale up green investment. In this string we’ll point to some of the events & moments from around the world that we’ve captured since Monday.
ICYMI: India: Giant state bank #SBI made a US$650m splash in the #greenbonds pool with inaugural issuance, funding #wind & #solar. In our special Post we profiled the bond, @SGX listing, asked when are more of global Top 100 Banks going to issue green. climatebonds.net/2018/10/sbi-ma…
Still in India: our CEO @seankidney takes some time out for longer form interview with Priya Sreenivasan from @down2earthindia. Shares his [forthright] views on the $US7billion domestic #greenbonds market & its outlook. Worth the read. downtoearth.org.in/interviews/-th…
Read 18 tweets

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