On the Horizon: America’s Municipal Default Crisis
BlackRock Expects Increased Downgrades for State Borrowers.
S&P: U.S. States Prepare For Federal Medicaid Cuts As H.R. 1 Leaves Less Operating Room
IRB Disclosure Could Take Hit If Public Cos. Permitted to Report Semiannually.
How Infrastructure Gets Funded: Lessons from 2025 Municipal Infrastructure Conditions
JPMorgan Chase Bank, N.A. v. City of Corsicana – After city and county brought declaratory judgment action against nonprofit corporation that owned site of retail-center project and retailer that operated anchor store in retail center, seeking declaration that economic-development agreements requiring city and county to grant sales-tax revenues for construction of retail facility were unconstitutional under Gift Clauses of Texas Constitution after retailer closed its store, the Supreme Court of Texas helds that closure of retail store did not establish that continued payments by city and county under economic-development agreements no longer served public purpose, for purposes of Gift Clauses and Texas Constitution provision authorizing loans and grants of public money for economic development, where record indicated that payments facilitated not merely retailer’s 11-year tenancy, but also development of shopping district that generated economic activity and tax revenue both during and after retailer’s departure.
Northern Integrated Supply Project Water Activity Enterprise v. VIMA Partners, LLC – Water activity enterprise that was owned by water conservancy district had authority under water activity enterprise statute and Water Conservancy Act to condemn construction easements on landowner’s property for surveying, locating, construction, operation, and maintenance of water delivery pipelines and related infrastructure for a water delivery and distribution project; water activity enterprise that is owned by a water conservancy district may exercise legal authority for actions taken in connection with its water activities, even if the action itself is not expressly identified as a water activity under the water activity enterprise statute.
And Finally, Resulting In A Gravitational Compliance Event is brought to us this week by Rolle v. JCDecaux Street Furniture New York, LLC, in which dude got bonked on the head while working, but was told that he had no claim under the city’s scaffolding law, ‘cuz “defendants established that the accident was not the result of an elevation-related hazard or gravity-related risk.” Not seeing any euphemisms in the general vicinity. OSHA Report: “Worker suffered catastrophic position retention failure at excessive altitude, followed by freefall condition and impact trauma consistent with terminal velocity achievement.” (With considerable assist from Claude.)

Bond Case Briefs