Far West

California Gov. Jerry Brown has signed a new law securing revenues for general obligation bonds issued by local governments — a move designed to protect bondholders in a bankruptcy proceeding. But rating agencies have mixed feelings about whether it will be of much benefit to holders of local GOs in the nation's most populous state.

Virginia will eliminate tolls on two tunnels under construction with $78 million saved by cancelling a P3 road project.

Sen. Ron Wyden, D-Ore., hopes that one day, parents will give their kids infrastructure bonds for the holidays.

The Municipal Securities Rulemaking Board is proposing to create a trade data product that would allow higher education researchers to see what dealers are doing while keeping the dealer identities anonymous.

Rep. Charlie Rangel, D-N.Y. and Sen. Sherrod Brown, D-Ohio, have introduced identical bills that would make permanent and enhance the Qualified Zone Academy Bond program.

Senators are optimistic about passage next week of a multiyear transportation funding reauthorization measure.

Stockton, Calif., chief financial officer Vanessa Burke, who weathered the storm of the city's bankruptcy, has joined Urban Futures, Inc.'s public management team.

The Port of Seattle is set to sell nearly $600 million of bonds next week to refund outstanding debt and to finance new projects at the city's airport and other facilities.

Standard & Poor's has downgraded Laramie County, Wyo.'s 2012 bonds issued for Cheyenne Regional Medical Center to A from A-plus.

Pepperdine University received Double A ratings from two rating agencies ahead of plans to price a $77 million revenue bond refunding the week of July 20.