Lockyer Seeks Authority Probe

California Treasurer Bill Lockyer called on Attorney General Kamala Harris to investigate whether conflict-of-interest laws were broken at one of the state’s biggest issuers of municipal debt, a conduit for bond sales on behalf of local governments.

Lockyer’s request follows a report by the state auditor that questioned the California Statewide Communities Development Authority’s use of consultants that do the work of public officials in return for a percentage of the debt issued.

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