Southwest

The Financial Industry Regulatory Authority ordered George K. Baum & Co. to pay $270,000 for charging a Colorado school district more than four times the firm’s normal underwriting fee, partly to pay for costs associated with promoting bond ballot initiatives.

With most of its leadership under indictment in a bribery scandal, Crystal City Texas is working to clean a tainted water supply as its school district tries to avoid a threat from state regulators.

Municipal bond primary market volume in the Southwest surpassed the previous record set in 2008, climbing 20% to $77.7 billion.

The University of Arizona is looking for interest rate savings in a $169.6 million refunding of three series of bonds issued from 2007 to 2009.

Kansas lawmakers sent a $16.1 billion budget for the next fiscal year to Gov. Sam Brownback that includes new limits on bonds for tourist-related developments and out-of-state conduit issuers for universities.

With revenue estimates falling, New Mexico lawmakers settled on a $6.2 billion budget that raids some state agency accounts to keep spending level with last year.

Arizona Gov. Doug Ducey has signed bipartisan pension overhaul legislation, though part of the plan must be approved by voters later this year.

The Texas Public Finance Authority, one of the state's primary issuers of general obligation debt, will retain First Southwest Co. and Coastal Securities as its financial advisors for 2016.

With Kansas lawmakers already working to close a $200 million budget gap, the state now must now address a court order to fix the school funding formula by June 30.

Oklahoma Gov. Mary Fallin wants lawmakers to approve another $120 million of bonds to complete repairs of the Capitol, as they struggle with a $910 million budget gap.