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Despite recent warnings from some financial experts that the ongoing financial troubles of state and local governments will lead to municipal bond defaults, state credits remain much more stable than corporate credits, Moody’s Investors Service said Wednesday.
October 6 - Washington
City tax revenues are following the lead of state tax revenues, showing record-breaking declines that are not expected to improve this year or next, according to an annual report released Wednesday by the National League of Cities.
October 6 - California
Los Angeles-based Wedbush Securities only started senior managing municipal borrowings a decade ago, but after a few years of rapid growth the firm is setting itself ambitious goals.
October 5
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WASHINGTON — The Treasury Department wants to hear from the public about the form issuers must file to recover excess amounts of arbitrage they rebated to the federal government.
October 5 - Washington
Residents of five states with fiscal challenges would rather lawmakers continue to cut spending or raise taxes than borrow to cover short-term budget deficits, according to a report issued Tuesday by the Pew Center on the States and the Public Policy Institute of California.
October 5 -
WASHINGTON — Market participants are sharply divided on the Municipal Securities Rulemaking Board’s draft proposal to prohibit dealers from underwriting new negotiated or competitive bond issues if they served as the issuer’s financial adviser on the transaction.
October 4 -
WASHINGTON — The Internal Revenue Service has told the Toledo-Lucas County Port Authority that $3.5 million of development revenue bonds it issued in 2005 to finance a manufacturing facility could be taxable.
October 4 -
SAN FRANCISCO — National Public Finance Guarantee Corp. withdrew a motion Monday asking a federal bankruptcy court to allow California state payments to the bankrupt city of Vallejo to flow to bondholders instead.
October 4 -
ALAMEDA, Calif. — The California Supreme Court upheld Gov. Arnold Schwarzenegger’s employee furlough policy Monday.
October 4 -
The House last week approved a bill that would allow state transportation departments and other tolling entities to offer discounted tolls to residents and nearby commuters, as individuals challenge the discounts in at least three lawsuits against tolling agencies.
October 4
