Word: municipales
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With the passage of the Voting Rights Act in 1965, the struggle for racial equality in America was transformed. The energy that blacks had rammed against the wall of segregation was diverted into an effort to win political power of their own. As millions of blacks began registering and voting...
Carrol, cutting earlier court cases, said that municipal bodies have the power on keep initiatives off the ballot if they consider the aim illegal of unconstitutional as many have said of the current initiative.
D-day finally arrived last week for the Washington Public Power Supply System. D for default. D for debacle. With its coffers almost empty, WPPSS or Whoops, as everyone now calls the agency, formally declared that it could not repay $2.25 billion in bonds used to finance partial construction of...
The default had been expected for weeks, so the municipal bond market reacted quietly, with most prices holding fairly steady. But concern about Whoops' woes had been depressing the market for months. Public utilities building power plants have had to promise exceptionally high tax-exempt interest rates of more...
Defaults on tax-exempt municipal bonds like those issued on Whoops have been relatively infrequent and have usually involved smallish sums. Only 685 defaults have occurred since 1940, out of 301,016 municipal bond issues. In terms of money lost, each of the three largest were around one-twentieth the...