WALNUT CREEK, Calif. — California’s largest conduit bond issuer and its private contractor are on the defensive after recent attacks on its roles both in and out of the state.

The rumblings include a state lawmaker’s recent call for an audit of two large conduit issuers structured as joint powers authorities — the California Statewide Communities Development Authority and the California Municipal Finance Authority — and reactions around the country to the opening last year of a CSCDA-linked conduit issuer in Wisconsin that handles nationwide deals.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.