S&P Credit FAQ: How Global Ratings Assigns The Loss Coverage Score For U.S. Long-Term Municipal Pools
Municipal Bankruptcy: Avoiding and Using Chapter 9 in Times of Fiscal Stress – Orrick
Cyber Attack Ensnares $4.3 Trillion Muni Market’s Key Site.
Barclays Sees Muni ‘Space Bonds’ Becoming $25 Billion Market.
Alliance San Diego v. California Taxpayers Action Network – Court of Appeal holds that special fund doctrine applied to exempt city’s bond resolutions related to voters’ ballot measure for hotel tax increase to fund expansion of city’s convention center, address homelessness, and repair streets from requirement under State Constitution and city charter of assent of two-thirds of voters for general obligation bonds; bonds related to measure would not be “general obligation bonds,” since resolutions did not obligate city to make payments on bonds out of its general funds or any funds other than the special tax funds established by measure.
And Finally, Lawyers Make For Terrible Songwriters is brought to us this week by Reno Real Estate Development, LLC v. Scenic Nevada, Inc., in which the reference to Reno conjured up for Your Editor memories of the Johnny Cash classic, Folsom Prison Blues. In the song, Mr. Cash was imprisoned for the crime of shooting a man in Reno, NV. The motive provided by Mr. Cash was, ‘Just to watch him die.’ Bit callous, that. Not a good look at sentencing. So why is he serving time in Folsom Prison, which is located in California? Perhaps the verses dealing with the jurisdictional issues were inadvertently omitted from the final version of the song. In related news, We regret to inform you that we are presently unable to procure the contractually-stipulated quantities of satisfaction using reasonable commercial efforts.

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