After having been withdrawn from the energy bill in the Senate, controversial legislation to provide federal funds to Flint, Mich., and any other community facing a water crisis, has been included in a major water bill introduced in the chamber this week.
Sewon Kim has joined Siebert Brandford Shank as head of its Transportation Banking Group, the firm announced on Wednesday. Kim, a 16-year industry veteran, will be based in the firms New York City headquarters on Wall Street.
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Most investors agree that municipal bonds in 2012 will not match 2011's robust returns. But there are opportunities at various points in the yield curve and among lower investment-grade credits. more »
The Internal Revenue Service's tax-exempt bond office has formed a seven-person team that is using EMMA and other data from the Municipal Securities Rulemaking Board to determine if muni bonds were initially offered at prices that raise questions about tax-law compliance. more »
The municipal securities market, still reeling from a handful of proposals President Obama and others offered during the last 14 months that pose the greatest threat to tax-exemption since 1986, may have a year's respite due to partisan bickering in Congress and the forthcoming presidential election, according to tax experts. more »
In the realm of muni enforcement, the new year will start with the most high-profile federal criminal trial since the mid-1990s, stemming from the Justice Department's extensive probe of bid-rigging. more »
Transportation officials and lobbyists will be watching Capitol Hill early next year, hoping lawmakers pass long-term reauthorization legislation funding aviation and surface programs that would bring much-needed stability to the sectors. more »
Brian Fraser, co-chair of the litigation department at Richards Kibbe & Orbe LLP, examines the challenges of distinguishing a loan from a bond and a loan from a security, in a chat with Bond Buyer northeast regional editor Paul Burton.
Worst case, to-maturity debt service calculations that ignore the issuer's optional redemption feature lead to flatly wrong calculations for critical items like expected capital cost, refunding savings, and simple, basic principal and interest payments.