SEC Charges School District and Muni Bond Underwriter in Indiana with Defrauding Investors.
TIGTA Finds Potential for Fraudulent Bond Tax Credit Claims.
SIFMA US Municipal Bond Credit Report, 2013 Q2.
MSRB Seeks Input on Potential Enhancements to Price Transparency in the Municipal Market.
WSJ: Search for Muni-Bond Guidepost Sputters.
U.S. Bank Nat. Ass’n v. Wright – In dispute over letter of credit drawn down by Indenture Trustee following bond default, court grants parties additional time to formally stipulate that bankrupt development would not dispute the drawdown prior to ruling on development’s mootness defense to Trustee’s complaint seeking declaratory judgment.
Alfonso v. Diamondhead Fire Protection Dist. – In a matter of first impression, Supreme Court of Mississippi holds that fire protection district’s monthly fee was based on “services rendered” and, thus, was a permissible fee and not an illegal tax.
Koponen v. Pacific Gas & Electric Company – Court declines to certify class in suit alleging that PG&E’s installation of fiber-optic lines along existing utility easements constituted trespass and exceeded the scope of the easement.
Calguns Foundation, Inc. v. County of San Mateo – Court upholds a county ordinance precluding the possession and use of guns in county parks and recreation areas, finding no preemption by state statute.
Pretty interesting week. Sure, some significant muni developments went down, but let’s not lose track of what really matters – overly enthusiastic police officers blowing through six intersections at 120 mph responding to a routine call and a chief of police responding to a dispatcher terrified of a psycho-stalker colleague with, “That man is crazy. I don’t know what to say about that man. You all better watch him.” She then goes to over his head to the mayor, who comforts her by saying, “I don’t blame him baby. I’d like to follow you around, too. Look at you. Why wouldn’t he want you?” Priceless. Shockingly, a sexual harassment suit ensued.

Bond Case Briefs