The Grand Jury of San Diego issued a report of this title yesterday. Also, at yesterday’s GFOA (Government Finance Officers Association) business meeting, the group voted that the Government Accounting Standards Board should stay away from the topic of sustainability. … Continue Reading →
June 1st marks the beginning of hurricane season. It’s been quiet for a few years but forecasters are predicting a more active 2010 season. Here are a few thoughts for analyzing the links to municipal bonds. Gray and Klotzbacher of… Continue Reading →
See this post on Reuters for discussion about Antioch, latest city in California to talk bankruptcy. There is a bill, sponsored by state senator Mendoza, AB155, that would require cities to go through the state (via the California Debt and… Continue Reading →
Why is the municipal market selling at such a premium? I have been asked this question several times in the last few weeks — not by career municipal analysts at mutual funds or rating agencies, but sophisticated investors who are… Continue Reading →
The Illinois Comptroller’s April report is scary reading. The state is $4.5 billion in arrears on payments to vendors and others (like school districts and service providers) with no end in sight. The Comptroller expects 2011 to be worse. The following chart… Continue Reading →
Add Xenia Rural Water District’s to the short but growing list of over-leveraged municipal borrowers. With $143 million in debt and about 9,000 customers, the unfolding socio-gram includes bondholders, bond insurers CIFG and Assured Guaranty, the US Department of Agriculture,… Continue Reading →
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