Washington

The securities fraud jury verdict against the city of Miami and its former budget director Michael Boudreaux on Wednesday will likely embolden the Securities and Exchange Commission to litigate rather than settle cases against issuers and their officials, lawyers said on Thursday.

The Senate on Thursday passed the long-stalled Water Resources Development Act of 2016 that would provide millions of federal dollars to Flint, Mich. and any other community facing a water crisis.

San Diego will build an 11-mile extension of its Blue Line light rail system with a $1 billion federal transit grant.

The Port of Seattle has unveiled the final design for a $636 million bond-funded airport renovation and expansion.

The Securities and Exchange Commission has approved proposed rule changes from the Municipal Securities Rulemaking Board that would authorize the board to provide three-year old trade data for academic studies that would identify dealers in some way without naming them.

In a first-of-a-kind verdict, a Miami jury found on Wednesday that Miami and its former budget director, Michael Boudreaux, were guilty of securities fraud for faulty disclosures in connection with three 2009 municipal bond offerings.

Amid a federal corruption probe, Opa-locka, Fla.'s former manager, David Chiverton pleaded guilty to taking pay-offs as a state financial oversight panel attempts to prevent the city from having to file for bankruptcy.

The Financial Industry Regulatory Authority ordered UBS to pay $750,000 in damages to two Puerto Rico bondholders.

The Senate may vote Monday on whether to limit debate on a $9.4 billion bipartisan water bill that would provide $220 million in federal funding to remedy the Flint, Mich., water crisis as well as to help other municipalities facing water infrastructure issues.

The Government Finance Officers Association and the National Association of Bond Lawyers on Thursday each issued guidance to issuers and counsel on how to comply with tax-exempt bond rules after the issuance of tax-advantaged bonds.

States are expected to use almost $800 million of new federal grants aimed at smooth freight shipments to leverage another $3.6 billion of infrastructure investments from other sources.

Two large bond offerings from Providence St. Joseph Health, the result of a merger between two major West Coast healthcare providers, epitomize the continuing trend of consolidation in the not-for-profit healthcare sector.

The Ramapo Local Development Corp. and three individuals facing Securities and Exchange Commission securities fraud charges are asking a federal judge to dismiss the SEC's complaint, claiming, among other things, that no one was hurt.

A bill introduced in the Senate by Republicans would put Indian tribal governments more on a par with state and local governments for bond financings, giving them better access to capital to support infrastructure and local economic development.

The District of Columbia Water and Sewer Authority plans a first-of-its kind environmental impact bond using a "pay for success" model to finance infrastructure to manage stormwater runoff.

Tennessee officials hope to avoid a $60 million cut in federal road funding over state's new under-21 DUI law.

In an historic action, the Municipal Securities Rulemaking Board has filed a markup disclosure proposal with the Securities and Exchange Commission that it said will likely lower transaction costs for retail investors, enable them to better understand dealers' pricing practices, and improve investor confidence in the municipal market.

The Securities and Exchange Commission is asking a federal judge to allow it to submit an amended complaint that includes much more detailed charges against banker Peter Cannava in connection with an ill-fated private placement for startup video game company 38 Studios.

Gambling is not a reliable and sustainable source of revenue for states or a solution to their budgetary problems, according to a recent report from the Rockefeller Institute of Government.

Minnesota highway officials say road conditions will worsen without solution to growing revenue gap.