Far West

The Internal Revenue Service is preliminarily challenging the tax-exempt status of bonds issued by the District of Columbia as part of a much lauded public-private partnership to build a new elementary school.

While the key oil production states of Oklahoma, North Dakota and California have all been hit hard by the drop in crude oil prices, the impact varies at both the state and local government level, Moody’s Investors Service says.

A recent Superior Court ruling, a pending district lawsuit and a renewed push for statehood have all set the stage for a budget showdown in the nation’s capital this fall.

California’s Department of Finance reported that March revenues came in $170 million below the $7.6 billion projected in the governor’s budget.

San Ysidro School District, once on the verge of a state takeover, had its certificates of participation boosted to investment grade by Fitch Ratings.

San Diego Mayor Kevin Faulconer uploaded seven years of the city’s budget information into an online tool to make it easier to track how tax dollars are spent.

President Barack Obama, Vice President Joe Biden and their wives released their 2015 federal income tax reforms on Friday, with neither showing any municipal bond holdings or tax-exempt interest.

Bond Dealers of America will be working on a full plate of issues this year as it helps its members navigate recent and ongoing regulatory developments while maintaining its educational and Capitol Hill-centered work, said new BDA board chair John Fechter.

Orange County, Calif., anticipates forming community facilities districts each year over the coming decade that would issue unrated dirt bonds to pay for infrastructure on a 23,000 master-planned community.

State officials say a 45% road funding shortfall will cripple Minnesota’s highway expansion plans by 2018.