The more information, the better. At least that is the thinking behind the Municipal Securities Rulemaking Board's launch of a system requiring that price information for all muni bond trades be available for the market within 15 minutes of a trade.
States and localities have increasingly used forms of variable-rate debt in their issuance, but now, as interest rates rise, that could land them in trouble.
After six years and countless lawsuits and countersuits, the city of Spokane is finally paving the way toward paying off the bonds sold by a local foundation whose failure to pay them resulted in multiple credit downgrades.
Local transportation agencies around the country may have to delay projects, raise fares or cut operating costs to make up for a $1.2 billion shortfall.
Alaska expects to issue a $75 million tax-exempt bond this year, backed by a pledge of the payments on student loans in its 2003 consolidation loan portfolio.
In the battle for the title of largest-ever municipal bond issue, New York's Metropolitan Transportation Authority is triumphant--for now.
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