The Los Angeles Times (3/19, Nottingham) reports, "California Treasurer Bill Lockyer sought a legal opinion Monday to determine if some local education officials and the municipal finance firms they employ are violating state law by campaigning to get school construction bonds passed." Lockyer wrote to state Attorney General Kamala Harris seeking the opinion, the Times reports, adding, "In recent months, Lockyer has been examining the way schools handle bonds, in part because of alleged abuses that arose from the issuance of risky and expensive instruments know as capital appreciation bonds."
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