Much like the corporate bond market, the past three years have seen record low rates for purchasing municipal bonds. As a result, a large number of communities have sought bonds to pay for major projects, infrastructure repairs, or even offset budget deficits. But the market is now putting more scrutiny on cities and towns in terms of the amounts and terms they are willing to extend.
The reasons are due to a number of cities that took on too much debt, that borrowed for the wrong things or that sought municipal bonds without a solid capital improvement plan to manage it all. In all of these
(See my complete article on the topic in Banker & Tradesman)
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