Critics say bond underwriters have too much influence in tax referendums

From The Denver Post: For school districts and other government agencies seeking approval of bond issues in a tough economic climate, help from a bond underwriter can mean the difference between success and defeat. But the prevalence of bond house involvement in Colorado elections also raises concerns from critics who worry they exert undue influence in a campaign. At worst, critics and experts say, governments pay bond companies extra to help pass tax increases, a potential violation of Colorado law. In many cases, bond campaigns in Colorado have received large contributions from investment banks the subsequently sold the bonds.