Far West

Increasing disclosure requirements for bond issuers is high on California Treasurer John Chiang’s list of priorities for the state legislature.

A two-year reauthorization of the Federal Aviation Administration under consideration this week by a Senate committee would provide more federal funding for runways and other infrastructure while keeping the revenue source used to back bonds financing terminal projects at its current level.

Westlands Water District, Calif. is on Fitch Ratings' rating watch negative after it was fined by the Securities and Exchange Commission for misleading investors.

California priced an additional $500 million in refunding bonds during this week’s GO bond sale at yields that resulted in $294 million in net present value savings.

After dipping in January, California state government’s revenues returned in February to a pattern of beating budget projections.

Bond lawyers on Thursday criticized the political subdivision rules recently proposed by the Treasury Department and Internal Revenue Service, claiming they would trample states’ rights, alter the landscape for public financing, and jeopardize the tax-exempt status of millions of dollars of municipal bonds.

Puerto Rico Gov. Alejandro García Padilla said a senior member of U.S. House Speaker Paul Ryan’s legislative delegation reaffirmed a commitment to prompt action that would give the commonwealth the tools for a debt restructuring.

Hawaii next week will sell bonds competitively for the first time in more than a quarter century.

Washington State Treasurer James McIntire wants Treasury and the Internal Revenue Service to create a safe harbor for competitive sales of muni bonds in their re-proposed issue price rules.

The Securities and Exchange Commission on Wednesday charged California's largest agricultural water district and two officials with misleading investors about its financial condition when it issued $77 million of bonds in 2012.