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Puerto Rico's Retirement System to Join Suit Against UBS Over Bonds
Puerto Rico’s retirement system plans to join an ongoing lawsuit filed against UBS over the alleged mishandling of pension obligation bond proceeds.  more »
The National Federation of Municipal Analysts is urging charter schools to provide detailed financial, academic, and staffing information in primary and secondary disclosure documents. more »
A bill introduced in the House would make municipal bonds issued by historically black colleges and universities tax-exempt at the federal, state and local levels. more »
While Mayor Rahm Emanuel has chipped away at the pension problem, Chicago has come nowhere close to identifying a solution. The city must, at a bare minimum, contribute enough every year, including 2016, to ensure that the plans' funded ratio not drop below, and that their unfunded liabilities not exceed, 2015 levels. more »
A bill introduced in the Senate Thursday by three New England Democrats would create a federal green bank in order to attract larger private investments in clean energy and energy efficient projects. more »
State tax revenue declined in the second quarter after showing weak growth during the first three months of the year, according to a report from the Nelson A. Rockefeller Institute of Government. more »
Congress is not likely to do much other than passing a continuing resolution to avoid a government shutdown before they recess later this week or next until after the elections in mid-November, according to municipal market participants. more »
Colorado's economy has shown the strongest improvement among states over the last year. The economies of Maryland, Wisconsin and Florida also continue to show strong improvement, while energy and commodity dependent states continue to show the weakest performance. more »
The Congressional Task Force on Economic Growth in Puerto Rico has been meeting with government agencies and gathering input from roughly 335 groups and individuals as it works to develop recommendations on how to address the commonwealth's struggling economy. more »
A Brookings Institution study claiming professional sports stadiums built or renovated with tax-exempt bonds during the last 16 years have cost the federal government $3.7 billion has drawn some criticism from a sports consultant and municipal market participants. more »
Education officials and experts offered suggestions to a House subcommittee Tuesday on how to regulate private universities’ multibillion-dollar tax-exempt endowments, including by making them taxable in some cases because of concerns about their use. more »
The Municipal Securities Rulemaking Board is urging a congressional task force to ensure Puerto Rico and its authorities follow five key principles with regard to their municipal debt, including voluntarily disclosing to investors information on bank loans, alternative financings, and other information that could affect their debt or credit profiles. more »
An administration official and the chairman of a nonprofit group told Senate committee members on Wednesday that they support a bill that would provide Indian tribal governments with better access to bond financings and capital to support local infrastructure and spur economic development. more »
A federal judge in Puerto Rico is allowing a lawsuit that challenges a Gov. Alejandro García Padilla executive order that declared a moratorium on constitutional debt payments after PROMESA was enacted to move forward without a stay. more »

Rhode Island General Treasurer Seth Magaziner, in an in-depth chat with Bond Buyer northeast regional editor Paul Burton, explains how the state can rebound through infrastructure. He also talks about his push to require investment firms to reveal public pension fees, lessons learned from the 38 Studios debacle, and his teaching days in post-Katrina Louisiana early in his career.

The orders provide some insight into what the Securities and Exchange Commission considers to be a material false or misleading statement in an offering document.

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