Tax-exempt bonds

Members of the Public Finance Network sent a letter to Congress urging restoration of advance refunding for tax-exempt bonds.

The audit involved four CUSIPs for $53.995 million in bonds issued in 2009.

Los Angeles Mayor Eric Garcetti said he "would like to see at least a couple of hundred billion dollars of new federal bonds."

Its top goal is to increase to $30 million the size of bank-qualified tax-exempt bond issues that can be sold to banks under favorable terms.

The proceeds of the bonds were used for the construction of a 232,100 square foot residential facility with 108 living units located on the main campus of an existing facility in Dallas known as The Overlook.

The Securities Industry and Financial Markets Association survey indicates low interest rates will keep the environment for issuing debt favorable.

Jail bonds are being targeted for audits by the IRS this year with respect to whether federal government use of locally built facilities or management contracts with localities causes excessive private business use.

The challenge this year will be biggest in the three states that were found by the Council of Development Finance Agencies to be closest to using their 2018 limits — California, New York and Massachusetts.

Another round of tax legislation is not expected to emerge until the very end of the year after the presidential election or in 2021 after a new Congress is sworn in.

Kenneth E. Bentsen Jr., the securities industry trade group's CEO, warned against a proposal to exempt some muni advisors from registering as broker-dealers.