Oregon Pension Returns 2.1%
The Oregon Public Employees Retirement Fund (OPERF) earned returns of 2.1% in 2015,and ended the year with a balance of $68.7 billion.
"Oregon invests for the long term, in up and down markets," said Oregon State Treasurer Ted Wheeler.
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The Internal Revenue Service has dropped its audit of Alaska student loan bonds after concluding there were no tax violations warranting any change to the tax-exempt status of the bonds.  more »
A California redevelopment successor agency achieved 25% savings on a $33.7 million tax allocation bond refunding.  more »
QUINCY -- Quincy School District (QSD) Superintendent John Boyd said district personnel are feeling positive about voters passing the district's bond measure, which is geared toward constructing a new high school and renovating existing schools.  more »
The holders of $50 million in pension obligation bonds have reached a tentative agreement with San Bernardino in its Chapter 9 bankruptcy.  more »
Wyoming's outlook was cut to negative from stable by Standard & Poor's as the highly-rated state struggles with budgetary pressure.  more »
Nevada's bond sale will help fund the $900 million Project Neon, which increases capacity on I-15 through Las Vegas.
Rating agencies affirmed a two-notch spread on Nevada's highway revenue bond ratings ahead of a $200M competitive sale.  more »
SANTA CRUZ -- Santa Cruz Public Libraries are eying the June 7 primaries to hold a special election seeking voter support for a $67 million bond measure.  more »
San Jose Unified has scaled back its vision of creating performance spaces for its bands and orchestras and returned to the drawing board.  more »
As they spend down the remaining dollars from a $100 million bond measure passed in 2006, officials at the Bakersfield City School District are preparing to ask voters in November for another $125 million for districtwide facilities upgrades.  more »
California water utilities are anticipating a new normal of reduced water usage as a result of the state’s ongoing four year drought, Fitch analyst Shannon Groff said.
California water and sewer ratings remain stable despite the challenges presented by the ongoing drought, Fitch Ratings said.  more »
Outer Harbor Terminal LLC, a marine terminal operator at the Port of Oakland, has filed for Chapter 11 bankruptcy protection.
The Port of Oakland has lost its second-largest terminal operator, a blow that Fitch Ratings said should be manageable.  more »
Backers of a California initiative that would require referendums for state revenue bonds defend measure.  more »
“I would think it would be a violation of MSRB Rule G-17 for an underwriter or municipal advisor to take action that is contrary to the AG’s opinion,” said Robert Doty, a lawyer and consultant.
Recent opinions issued by the California attorney general’s office may have some municipal advisors and broker-dealers treading carefully to avoid breaking Municipal Securities Rulemaking Board rules.  more »

Career Zone


New York City Comptroller Scott Stringer discusses improving the city's pension system with Bond Buyer senior Northeast reporter Paul Burton. Stringer also examines the effect of the proposed state budget on the city and reminisces about his cousin, the late Congresswoman Bella Abzug.

While the SEC's MCDC Initiative has provided some clarity with regard to materiality and confirmed that the reasonable diligence standard of Rule 15c2-12 applies to both negotiated and competitive deals, no clarity has been offered with regard to the extent of the reasonable diligence obligations of those participating in competitive deals, as co-managers, syndicate members or selling dealers. ...

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