Investment Service

County treasurer targets contributions to school bond campaigns

Financial underwriters who want to do business with the County of Los Angeles must agree not to give political donations to school bond campaigns under new rules adopted this month by government finance officials. Because Los Angeles County is by far the largest municipal bond issuer in California, the move is likely to have statewide implications. Mark J. Saladino, the Los Angeles County treasurer-tax collector, said Tuesday that his office set the policy to prevent campaign donations from influencing the hiring of securities brokers by school districts and to increase competition among dealers, who often charge millions of dollars in fees. Saladino has been concerned that some...