Kentucky muni bond legal case

Bloomberg has an update on the Kentucky muni bond case. You can read it here.

As each decision date passes, it looks like the court is going to take a pass. The court might instead decide a case it heard back in January that raises similar issues — United Haulers v. Oneida-Herkimer Counties — and then kick the Davis case back to the Kentucky Court of Appeals and tell it to reconsider the matter based on that ruling. How about that? It will be months before the municipal market has any clarity on this issue.

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