Washington

A water district employee in Lake Forest Park, Wash. pilfered more than $350,000 of ratepayer money by using her children a state audit found, according to local reports.

A new Reason Foundation study analyzing road trends over the past two decades challenges claims of "crumbling infrastructure," which have been used by transportation advocates and policymakers as justification for everything from higher taxes to new or expanded bond programs.

The Municipal Securities Rulemaking Board should harmonize its rules with those of other regulatory agencies, conduct thorough analysis of the costs imposed by its rules and clarify language in the rules to make them less ambiguous for market participants and compliance examiners, said comment letters filed with the board in recent days.

President Obama stepped up pressure on Congress Tuesday to avoid the "meat-cleaver approach" of automatic, across-the-board federal budget cuts that are set to go into effect on March 1.

The IRS is auditing two separate issuers to address the accuracy of form 8038-T, a project the agency has taken up as one of their fiscal 2013 goals. Form 8038-T is filed by issuers when making an arbitrage payment.

Sales of municipal bonds in the Far West region grew by almost a quarter in 2012 compared to a year ago, spurred by record low interest rates that led to an increase in refinancing.

Several major airport credits could be negatively affected by operational shifts in the wake of the US Airways/American Airlines Merger, officially announced Thursday.

The state Senate passed a bill Monday that would authorize $475 million of general obligation bonds for school construction.

Seattle voters passed two school levies worth $1.2 billion during a special election Tuesday.

Public finance officials and infrastructure investors need to stop talking about "the deal" and start managing political risks with clear, easily understood language, participants at a U.S. Chamber of Commerce panel said Wednesday.

Appointed members of state and local governmental boards will likely be exempted from the Securities and Exchange Commission's final definition of municipal advisor, which is expected to be released early this year, the SEC chairman said Thursday.

Transportation and business leaders on Wednesday discussed controversial solutions for funding American infrastructure, including Build America Bonds, gasoline tax increases, and wider use of tolling.

A bill that would allow states to collect taxes from online purchases will be introduced in both chambers of Congress on Thursday, after several setbacks at the end of last year.

The MSRB's Jay Goldstone reminded that comments on its review of its rules and interpretive guidance rule changes are due Feb. 19, asking commenters to offer specific suggestions and critiques.

The Municipal Securities Rulemaking Board is proposing to create a new Rule G-47 that would codify current guidance on the obligations of dealers to disclose material information about municipal securities to customers at or before the time of purchase or sale.

Former investment banker and New York City official Mark Kim is the new chief financial officer at the District of Columbia Water and Sewer Authority, DC Water announced at its board meeting Feb. 7.

Seattle may sell a bond-financed downtown mall parking garage that has been losing money.

The outlook for U.S. toll roads is negative for the fifth consecutive year, according to a Moody's Investors Service analysis of expectations for the sector over the next 12-18 months.

Municipal market insiders say muni-related items working though the Securities and Exchange Commission will likely remain on track if Mary Jo White, a securities litigator and former U.S. prosecutor, becomes the SEC's new chairman.

Moody's Investors Service has put 11 triple-A rated municipal credits, including one state, one major city and two state housing authority programs, on negative watch following a new analysis of issuers with indirect links to the federal government.