-
The Internal Revenue Service's initiative to determine whether municipal bonds are being initially offered at prices that fail to comply with tax requirements has left issuers upset and confused about the definition of issue price and what specific abuses the IRS is looking for.
January 10 - Washington
Municipal Securities Rulemaking Board officials on Tuesday urged issuers to encourage Moody's Investors Service to post rating information on the MSRB's online Electronic Municipal Market Access system.
January 10 -
WASHINGTON — Public-private partnerships do not necessarily supply more funds for highway construction than traditional government financing, and spending by the private party must be restricted by budget caps or legal limits for states and localities to see benefits from P3s, a Congressional Budget Office study concluded Monday.
January 9 - California
LOS ANGELES — The superintendent of Sweetwater Union High School District in San Diego County has suspended all activity by Seville Group Inc., the program and construction management firm overseeing the district's $644 million Proposition O bond program.
January 9 -
Putting an end to the one of the most high-profile criminal trials in the muni market since the mid-1990s, two former employees of CDR Financial Products Inc. each pleaded guilty to three criminal counts in connection with bid-rigging of investment and derivatives contracts for muni bond proceeds.
January 9 - Alaska
Standard & Poor's has raised Alaska's general obligation debt rating to AAA from AA-plus because of a change in the state's financial management methods.
January 6 - California
California Gov. Jerry Brown's new budget proposes about $5 billion of general obligation bond sales this year, an increase of 18% from last year, when the state borrowed relatively little.
January 6 - Nevada
Two northern Nevada shopping centers that were developed using sales tax anticipation revenue bonds have been forced to draw down reserves to meet bond obligations.
January 6 -
The Financial Industry Regulatory Authority has asked the Securities and Exchange Commission to allow it to assess its muni members quarterly fees based on the par value of their reported transactions to help fund the Governmental Accounting Standards Board, despite protests from issuers and dealers.
January 6 - California
California Gov. Jerry Brown announced a $92.5 billion fiscal 2013 budget Thursday that tackles a projected deficit of $9.2 billion with taxes and cuts.
January 5
