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She echoed Kemp's concerns about ris¬ing construction costs and said that if a bond issue fails this November, the costs outlined on the ballot may not be relevant come the following election. An Iowa state law adopted this year means local governments and school districts will face a new hurdle in issuing municipal bonds. [Extracted from the article]

Fitch said GLWA has about approximately $1.6 billion senior lien water supply system revenue bonds outstanding, about $708.1 million of second lien water supply system revenue bonds, $1.79 billion senior lien sewage disposal system revenue bonds and $736.4 million second lien sewage disposal system revenue bonds. According to Moody's and Fitch, the issuer expects to refund about $60 million of outstanding senior lien revenue water bonds, and $90 million of senior lien sewage disposal system revenue bonds and $12 million of second lien sewage system revenue bonds. Michigan-based Great Lakes Water Authority is set to return to market with upward of $400 million in senior and second lien water supply and sewer disposal revenue and refunding bonds following two ratings upgrades and a step toward ending a years-long legal dispute with a city just north of Detroit. [Extracted from the article]