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SAN FRANCISCO — Vallejo, Calif., is on track to submit a plan to a federal judge next week to exit the largest municipal bankruptcy in more than a decade.
January 10 -
WASHINGTON — Senate Budget Committee chairman Kent Conrad said Friday that his panel needs to come up with a plan to help states that approach Congress seeking assistance because of serious financial troubles.
January 7 -
The Securities and Exchange Commission on Friday charged two former portfolio managers with defrauding a tax-free mutual fund that invests primarily in municipal debt issued in Utah. It appears to be the first such case in which portfolio managers for a registered investment adviser were charged with taking fees from municipal bond issuers, sources said.
January 7 -
The Internal Revenue Service is auditing $250 million of Build America Bonds issued by Denver School District No. 1 in December 2009 to finance construction, renovation, and repair of school facilities.
January 7 -
WASHINGTON — The District of Columbia’s chief financial officer warned the city’s new leaders against writing a fiscal 2012 budget that draws on the general fund balance to pay for operations, saying that balancing the budget in this manner for the fifth straight year could threaten the district’s credit rating and reputation with bond investors.
January 7 -
ALAMEDA, Calif. — A major newspaper is reporting a Securities and Exchange Commission investigation into California’s pension disclosure practices, but the reported subjects of the probe say they haven’t heard a thing from the SEC.
January 7 - California
ALAMEDA, Calif. — California Treasurer Bill Lockyer has appointed Eileen Marxen to serve as executive director of the California Industrial Development Financing Advisory Commission.
January 7 -
SAN FRANCISCO — The Asian Art Museum Foundation and San Francisco city officials said they reached a deal Wednesday with JPMorgan Chase & Co. and insurer MBIA to restructure $120 million of variable-rate bonds, securing the financial stability of the largest collection of Asian art in the Western world.
January 6 -
ALAMEDA, Calif. — Southern California’s LA/Ontario International Airport could soon be under new management.
January 6 - California
SAN FRANCISCO — Having already experienced a public employee pension-funding crisis, San Diego may emerge ahead of the reform curve as it works to clean up its financial house.
January 6
