California’s Lockyer Urges Cleaning Up School Bond Deals
This article is for subscribers only.
California should limit negotiated bond sales by school districts and restrict underwriters and financial advisers’ involvement in campaigns for voter approval of the offerings, according to state Treasurer Bill Lockyer.
Lockyer advocates statewide rules covering the issues, rather than a local approach, spokesman Tom Dresslar said. This week, Los Angeles County Treasurer Mark Saladino said underwriters who donate to school-bond campaigns would be barred from doing business with the state’s most-populous county.