State and local governments frequently finance capital projects such as airports and utility systems by issuing tax-exempt qualified tender bonds (also commonly called variable rate demand obligations or “lower-floaters”) and...more
On April 9, 2020, U.S. Treasury Secretary Steven T. Mnuchin approved the establishment of a Municipal Liquidity Facility (MLF) aimed at helping the flow of credit to states, counties and cities impacted by the COVID-19...more