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SAN FRANCISCO — The University of Washington, a top-notch credit, will hit a supply-constrained municipal debt market Wednesday with $271.3 million of bonds for refinancing and to fund various construction projects.
February 7
- Washington
The Municipal Securities Rulemaking Board has drafted an interpretive notice warning underwriters of new bonds that they may violate the fair-dealing rule if they agree to eliminate a reserve fund or take other actions for the new bonds that could hurt existing parity bondholders, without authorization from bond documents.
February 7 -
Standard & Poor's slashed Hercules, Calif.'s revenue bonds five notches, partly as a result of bankruptcy statements by city officials.
February 7 - Hawaii
Hawaii's governor wants to use the premium gained off a recent bond sale to help replenish reserve funds, but the state's social agencies think the money should be used to fund their programs.
February 6 - California
SAN FRANCISCO — Squire Sanders said it has hired public finance attorney Robyn Helmlinger as a partner in San Francisco.
February 6 - California
SAN FRANCISCO — California Gov. Jerry Brown said Friday he signed a bill into law that will allow the state to shift $865 million around internally to buffer cash-flow needs.
February 6 -
WASHINGTON — The Internal Revenue Service is auditing $31.59 million of Series 2004A first mortgage revenue bonds that were issued by the St. Johns County Industrial Development Authority in August 2004 to help Presbyterian Retirement Communities Inc. and its affiliates finance improvements to eight retirement centers in Florida.
February 3 - California
California, traditionally the largest issuer of municipal bonds in the country, is set to constrain its bond sales for another year, tightening supply to one of the hungriest markets of all time.
February 2
- Washington
The Financial Industry Regulatory Authority highlighted "key risk areas" for muni broker-dealers, warning that its exams will focus on whether incomplete disclosures and financial information from an issuer prevent retail customers from making informed investment decisions.
February 2 -
A group of Democrats and an independent lawmaker in the Senate have introduced a bill that would codify the so-called Buffet Rule by imposing a minimum 30% tax rate on taxpayers whose adjusted gross income exceeds $1 million, including capital gains and dividends.
February 2
