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Additional regulation of money-market mutual funds could increase short-term borrowing costs for state and local governments, leading municipalities to raise taxes or cut spending on infrastructure and other critical projects, according to a paper released Monday by a Georgetown University professor.
June 18 - California
SAN FRANCISCO — California lawmakers passed a budget bill last week, but left a lot of details to fill in before the new fiscal year starts July 1.
June 18 -
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The California Department of Transportation and the San Francisco County Transportation Authority closed Thursday on financing for the $1.1 billion Presidio Parkway Public-Private Partnership.
June 15 -
The Internal Revenue Service has closed an audit without changing the tax-exempt status of $219.22 million of bonds that were issued by the curators of the University of Missouri in 2006.
June 15 -
The Financial Industry Regulatory Authority ordered five firms — Neuberger Berman, Lawson Financial, Edward D. Jones, Estrada Hinojosa and UVEST Financial — to pay a total of nearly $120,000 in fines and restitution for violations of municipal securities rules.
June 15 -
FINRA will soon begin examining underwriters of municipal bonds to see if they can show they have carried out disclosure due-diligence obligations like those in a risk alert the SEC issued in March, a senior official said.
June 14 - California
As state and local governments grapple with the costs of their employees' retirements, elections in two big California cities may signal a sea change in the pension reform debate.
June 14 -
CHICAGO — Bond lawyers are beginning to require that underwriters sit down with members of the issuer’s finance team to discuss how they determined the issue price for the bonds, an IRS official said at a seminar held here on Wednesday.
June 14 - Oregon
Oregon Treasurer Ted Wheeler said the state has saved more than $60 million in the first half of the year by refunding bonds.
June 14
