MSRB Amends Rule G-28, on Transactions with Employees and Partners of Other Municipal Securities Professionals, Consistent with FINRA Rule 3210, on Accounts at Other Broker-Dealers and Financial Institutions.
BofA Public Finance Head Sees AI Boosting Underwriting Dominance.
A First-Ever Default Shakes an $80 Billion Corner of Muni Market.
Record $21 Billion Water Bonds Sold With Trump Budget Cuts Ahead.
Municipal CUSIP Request Volumes Rise for Fourth Consecutive Month in May.
SIFMA US Municipal Bonds Statistics.
River Creek Development Corporation v. Preston Hollow Capital, LLC – Supreme Court of Texas holds that transaction documents between city, local government corporation, and bond holder involved in the financing of public improvements for a public improvement district via a conduit issuer, which included a loan agreement, a promissory note, an interlocal agreement, and bonds, were not void due to corporation’s failure to submit the documents to the Attorney General for examination and approval pursuant to the Transportation Code; city attempted to void its own obligations based upon its own failure to submit them to the state for approval. Very interesting discussion and analyses in the court’s dissents, particularly w/r/t to conduit issuers.
And Finally, Bringing a Knife to a Tater Tot Hotdish Fight is brought to us this week by Matter of Groebner, in which Officer Groebner responded to a call reporting a child with a knife. “There was no evidence of a knife when Groebner arrived.” Groeby then separated the parties in order to obtain their respective stories and later reported that, “The son said his mother yelled at him for chasing his sister; the father said the son was not listening to him and was causing a scene.” “Groebner mediated the situation and both parties went back inside.” Well, that’s certainly a unique fact pattern. Takeaway appears to be that you’ll want to mention a knife-wielding child should you wish prompt police mediation of your minor family skirmish. Soon thereafter, Officer Groebner drops dead of a massive aortic aneurysm (for reals). Contact your friendly neighborhood cardio-thoracic surgeon for the takeaway on that one.

Bond Case Briefs