DALLAS — A court document used in the guilty plea of former El Paso Independent School District trustee Carlos “Coach” Cordova suggests that some of the crimes he is accused of may have involved bond deals. Though details remain sketchy as to the actual events, the document mentions violations of federal law in Dallas and New York, as well as El Paso, over a 12-year period beginning in 1995. Dallas is headquarters to many bond advisory and underwriting firms, including First Southwest Co., the district’s financial adviser. Issuers typically travel to New York’s financial hub for bond pricings.Cordova, 80, pleaded guilty Wednesday to conspiracy to commit mail fraud, wire fraud and deprivation of honest services. The plea was the first by a former school district official in the widespread federal investigation of corruption among public officials in El Paso County. Two former county officials and an architect who worked for the El Paso ISD have also entered guilty pleas.The information filed in court Wednesday states that Cordova received cash in exchange for his vote favoring a vendor seeking business with the district.The
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The county commission said it hopes to regain Moody's ratings this fall.
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Market participants launched the largest lobbying effort in recent memory to protect municipal bonds and got what they wanted as the tax-exemption survived.
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UST yields rose across the curve in response to the employment report with the two-year rising nearly 10 basis points while municipals largely ignored the moves and ratios fell as a result.
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Oregon Department of Transportation leaders said they will begin layoffs Monday after lawmakers adjourned without passing a transportation funding bill.
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"If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs," said Sanchez, director of the SEC's Office of Municipal Securities.
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The growth of the muni market comes as issuance surges, with the first half of the year seeing $280.64 billion of supply, up 14.3% year-over-year, according to LSEG.
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