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The extraordinary redemptions being used to call Build America Bonds "are based on a creative but flawed legal argument driven by the current change in interest rates," said Kramer Levin partner Amy Caton.
March 21 -
Citi's exit comes amid the larger trend of broker-dealers downsizing balance sheets, which can hurt secondary market liquidity, particularly in times of stress. Other market players are coming into the fold.
March 21 -
The payout represents the maximum percentage a whistleblower can receive under the False Claims Act in Illinois.
March 21 -
This spring brings a bevy of school referendums in the Midwest. With inflation and property tax fatigue, voters may be increasingly reluctant to say yes.
March 20 -
The Fortress Investment Group-backed Brightline now anticipates carrying 4.9 million passengers between Miami and the Orlando airport.
March 19 -
The traditional tax exemption "does take some of the volatility out," said Mark Ritacco, chief government affairs officer for the National Association of Counties.
March 19 -
The state Supreme Court ruled that prevailing wage rules for public projects don't apply to private entities that borrow using tax-exempt conduit bonds.
March 18 -
The $650 million settlement will fund back pay for firefighters, who will also get future wage hikes.
March 15 -
"Insurance rationing by the leading insurers is becoming the mechanism by which climate risk is starting to impact municipal issuers," said Triet Nguyen, vice president of strategic data operations at DPC Data.
March 15 -
Gov. Tina Kotek sent a letter to transportation commissioners asking them to scrap a tolling plan for Portland-area highways that was seven years in the making.
March 15