Washington

Frederick "Bud" Wright is expected to become the new executive director of the American Association of State Highway and Transportation Officers early next year, sources said Tuesday.

The IRS has told the city of Bell, Calif., that $35 million of general obligation bonds it issued in 2007 may not be tax-exempt because the agency believes the bond issue is a hedge bond.

Hurricane Sandy may demonstrate to lawmakers the importance of tax-exempt financing and promote opposition to proposals that threaten munis’ tax exemption.

U.S. Rep. Darrell Issa, R-Calif., sent a letter to District of Columbia Mayor Vincent Gray, outlining a way to move forward on lifting the district's building height restrictions, while expressing concern about protecting the capital's character.

The MSRB, to boost trade transparency, announced that the par amount of trades of less than $5 million will now be posted on the EMMA system in real time.

Seattle voters overwhelmingly authorized $290 million of 30-year bonds to help rebuild part of the city’s seawall and downtown piers.

John Horsley and Jack Basso will take about 90 years of experience with them when they retire from the American Association of State Highway and Transportation Officials in February, and the two are disappointed to be stepping away from a very uncertain future.

Voters from California to Florida passed at least $10.9 billion of bond issues with interest rates on municipal debt close to the lowest since the 1960s.

Municipal market participants are split over whether a proposal to tighten oversight of retail-order periods should specifically define types of orders that qualify as "retail."

The nearly $30 billion in economic damages caused by Hurricane Sandy will not have a detrimental effect on the creditworthiness of U.S. debt, but it is likely to have negative consequences for mid-Atlantic electric utility companies.

New York City Housing Development Corp. president Marc Jahr has been tapped as the chairman of the interim executive committee of Municipal Bonds for America, a coalition formed to stave off threats to tax exemption.

State transportation agencies are working together to develop strategies aimed at making investment in infrastructure more palatable to the public, as official fears of a rising investment gap meet public concerns about long-term debt.

Allyson Dodd has been promoted to field operations manager of the IRS' TEB office and Vicky Tsilas will officially begin her new position at the Treasury Department as associate tax legislative counsel on Monday.

A Washington Supreme Court ruling has thrown a wrench into the use of a contingent loan agreements to support bond issues.

The MSRB plans to study the idea of restricting, or possibly banning, contributions to bond-ballot campaigns by muni bond dealers.

Securities and Exchange Commission Chairman Mary L. Schapiro today issued a statement saying she is pleased that the nation’s securities markets were able to open Wednesday despite the devastation left by Hurricane Sandy.

The Municipal Securities Rulemaking Board plans to propose regulations that would require dealers to disclose more information about contributions to bond-ballot campaigns.

Hurricane Sandy left major challenges for many municipal bond firms after the Financial District of Manhattan was hammered hard by the storm.

Market participants whose electronic systems have been affected by Hurricane Sandy may want to notify the Municipal Securities Rulemaking Board.