News and Information from Bond Buyer

Even as state tax collections saw robust growth during the past three quarters, preliminary figures for the third quarter of 2013 indicate that many states are seeing significantly slowing revenue growth, according to the Rockefeller Institute of Government.

Check out photos from The Bond Buyer's 12th annual gala, held at Manhattan's Waldorf Astoria hotel on Thursday, December 5, 2013.

The SEC should provide guidance to broker-dealers assuring them that they will not be restricted from giving advice to issuers in their roles as underwriters, a congressman told SEC chairman Mary Jo White in a recent letter.

California's Department of Water Resources announced a five-year low for its water allocation rate, which is a credit negative for the state's water enterprises, according to Moody's Investors Service.

New York City Comptroller John Liu, citing an audit that revealed unreported revenues, said Verizon has agreed to pay an extra $1.4 million in cable franchise fees.

Massachusetts Treasurer Steven Grossman announced a $265 million settlement related to a class action against the former Massey Energy, which now does business as Alpha Appalachia Holdings.

Indiana Gov. Mike Pence, who is ending his first year in office, said last week that eliminating the business personal property tax will be one of his top legislative priorities in 2014.

The Securities and Exchange Commission has approved amendments to a Municipal Securities Rulemaking Board rule that would prohibit underwriters or remarketing agents from authorizing changes to bond documents except in limited circumstances.

A Jacksonville, Fla., task force rejected using up to $1 billion of pension obligation bonds to help alleviate the city’s $1.68 billion of unfunded police and fire obligations.

A public-private partnership at the airport in Gary, Ind. will drive $100 million of investment over the next 40 years, the airport announced Monday.

Chicago Mayor Rahm Emanuel named Daniel Widawsky to serve as comptroller, replacing Amer Ahmad, who faces corruption charges stemming from his previous tenure in the Ohio Treasurer’s office.

While state tax collections saw robust growth in the last quarter of 2012 and the first two quarters of 2013, preliminary figures for the third quarter of 2013 indicate that many states are reporting significantly softening revenue growth, according to the Rockefeller Institute of Government.

Bonds insured by Assured Guaranty's municipal-only Municipal Assurance Corp. are now available on secondary market trades through alternative trading system TMC Bonds.

John L. "Jack" Kraft, bond counsel attorney for more than 45 years, has played a key role in establishing the bond counsel business in New Jersey, handled some of the state's most significant bond deals, and been at the forefront of defending the tax-exemption for municipal bonds.

As Harris County continues to receive Hail Mary proposals to save the Houston Astrodome, site work has begun that could represent the first stage of demolition.

Some investors took interest Monday in revenue-backed Puerto Rico bonds even as the government there released data showing the economy sank year-over-year in October.

The Financial Industry Regulatory Authority has fined Oppenheimer & Co. $675,000 for charging unfair prices in municipal securities transactions and for failing to have an adequate supervisory system, FINRA announced Monday.

Florida's economists again upped their forecast of revenues the state can expect in fiscal 2015 bolstering Gov. Rick Scott's plan to recommend $500 million of cuts in taxes and fees.

Los Angeles withdrew two requests for proposals seeking financial advisors that were the subject of a protest letter from Texas-based broker dealer and financial advisor FirstSouthwest, because underwriters were excluded from applying.