Far West

WASHINGTON — Architects are urging lawmakers to reinstate the Build America Bond program.

NEW YORK — The municipal securities market is beset by problems that defy easy solutions, academics and experts told municipal analysts Friday.

WASHINGTON — Market participants are questioning why Sen. Ron Wyden is drafting legislation that would create a new type of tax-credit bond for transportation projects, warning there is not much of a market for tax-credit bonds.

Municipal bond issuers and underwriters should review all documents related to their pension disclosures, even those that were not prepared with disclosure in mind, an attorney told muni market participants Friday.

WASHINGTON — Self-regulatory officials may assess fees on municipal advisers based on their advisory activity and are focused on disclosure to retail muni investors.

SAN FRANCISCO — The California cities of Sacramento and Anaheim are in a tug-of-war over the fate of a National Basketball Association franchise, with bonds tied to each end.

WASHINGTON — The Internal Revenue Service is auditing $21 million of variable-rate general obligation bonds that were issued in 2005 by the Spring Grove Area School District in Pennsylvania to finance school projects, but were redeemed in 2009.

ALAMEDA, Calif. — The collapse of California budget negotiations this week brings with it questions about the state’s ability to schedule its annual, multibillion-dollar note sale to fund its cash flow.

WASHINGTON — A former municipal derivatives trading desk manager at Banc of America Securities LLC has pleaded guilty to one criminal count of engaging in a conspiracy to falsify bank records in connection with a scheme to rig bids and pay kickbacks for investment agreements and other financial contracts in the muni market.

WASHINGTON — Sen. Ron Wyden’s plans for transportation financing legislation are now focused on tax-credit bonds instead of a scaled-down version of Build America Bonds.