Washington

The draft transportation bill released by a key Senate committee falls far short of funding needs by proposing only $242.4 billion for road projects over six years, administration officials and highway industry experts are warning.

The draft transportation bill released late Monday night by a Senate committee calls for $242.4 billion of federal funding for highway projects over six years.

Increased transparency in the bond rating agencies has been a positive for both investors and issuers, even though it can potentially create a false sense of analysis being an exact science, experts told fellow municipal analysts on Thursday.

Former CDR Financial Products, Inc. employees Douglas Goldberg and Daniel Naeh were not given any prison time or probation when sentenced on Thursday after pleading guilty in 2010 to multiple criminal charges for participating in wide-reaching bid rigging schemes in the municipal market.

The Senate Environment and Public Works Committee will vote on a surface transportation reauthorization bill on May 15, committee leaders announced Thursday.

The National Federation of Municipal Analysts presented its annual awards during its conference here on Wednesday, honoring four individuals and an organization for contributions to the municipal bond industry.

Puerto Rican investors in municipal bond closed-ended funds run by UBS AG, Banco Popular and Popular Securities sued the firms.

The National Association of Bond Lawyers urged the Treasury Department and Internal Revenue Service to provide guidance in the coming year on matters ranging from President Obama's health care reform law to the definition of a political subdivision.

The Municipal Securities Rulemaking Board is revising its proposed rule governing the duties of municipal advisors in response to market comments, and will also propose amending its pay-to-play rule to cover MAs, the MSRB announced Tuesday.

Large public funds tracked by the Wilshire Trust Universe Comparison Service outperformed small ones in the first quarter of 2014.

The Washington Higher Education Facilities Authority privately placed $34 million of bonds to fund construction projects at Saint Martin's University.

It is virtually impossible to predict what would happen if Puerto Rico's financial situation deteriorated to the point where it could no longer repay its debts, experts on distressed municipalities said Thursday.

Fitch Ratings upgraded the rating on Central Washington Hospital in Wenatchee, Wash., based on its improved financial performance.

The Securities and Exchange Commission will release new rules for the reform of money market mutual funds "in the near term," although it has not decided whether they should would apply to municipal funds, SEC chairman Mary Jo White told a House panel Tuesday.

Lack of congressional action to replenish the dwindling Highway Trust Fund means aging bridges will continue to deteriorate.

The Berea City School District in Ohio said that it can redeem $12.87 million of series 2009B certificates of participation designated as Build America Bonds because its subsidy payments were reduced due to sequestration.

Airports may someday face competition from high-speed rail, but that's not a sure thing yet, Kroll Bond Rating Agency said in a new report on rating methodology for general airport revenue bonds.

The Municipal Securities Rulemaking Board has filed a new rule with the Securities and Exchange Commission to implement an annual fee of $300 for each municipal advisor professional that is to be paid by registered municipal advisors.

Metropolitan Washington Airport Authority will complete funding of a rail line to Dulles International Airport with May's negotiated sale of $450 million of toll revenue bonds.

A new office at the U.S. Treasury Department will focus on state and local finance issues, including distressed municipalities and their management of pensions and other liabilities.