Far West

BRADENTON, Fla. — Lambuth University in Jackson, Tenn., has filed an audit that “raises substantial doubt about its ability to continue as a going concern.”

WASHINGTON — House Transportation Committee chairman John Mica wants to take the Northeast rail corridor away from Amtrak and privatize most of it to get true high-speed rail service — trains that can travel at 220 miles per hour.

Senate transportation committee leaders have agreed to fund the TIFIA program at $1 billion per year as part of a six-year highway and transit funding bill that they plan to introduce in two weeks.

The Municipal Securities Rulemaking Board released a draft of Rule G-44 Wednesday that would require municipal advisers to put in place supervisory systems to ensure they comply with Securities and Exchange Commission and MSRB rules.

Broker-dealers face increasing scrutiny and may be required in some cases to put the interests of municipal issuers ahead of their own, regulatory officials said Wednesday.

The Internal Revenue Service is sending out questionnaires to 300 issuers asking about their advance-refunding procedures and post-issuance compliance.

WASHINGTON — Congressional interest in municipal securities has increased significantly at a time when the issuer community does not appear to be as cohesive as it has been in the past, the Municipal Securities Rulemaking Board’s executive director said this week.

SAN FRANCISCO — A California lawmaker has called for an audit of two of the state’s largest third-party bond issuers, citing concerns about transparency, conflicts of interest and public benefit.

SAN ANTONIO — State and local governments are facing more scrutiny from municipal market participants, including rating agencies and underwriters, market experts warned this week.

SAN ANTONIO — Government officials are sweating the risk that they will lose the tax-exemption for muni bonds, worrying that the market for tax-credit bonds — an alternative to tax-exempts posed by some members of Congress — won’t work as well.