Far West

The $7.5 billion in bond authority California voters approved in November represents a fraction of what is needed to fund water projects in the state, experts told state lawmakers.

House Transportation Committee approved rail legislation that prompts Amtrak to seek private partners for station development projects.

As regulators push for more disclosure of bank loans, there is confusion about the implications for and obligations of dealers, issuers, and municipal advisors.

The ruling that the former mayor was liable for violations of securities laws as a "control person" is one of which every official of a state or local government issuing debt should be aware.

Moody's Investors Service upgraded Los Gatos, Calif.'s issuer rating to Aaa from Aa1 and its certificate of participation rating to Aa2 from Aa3, affecting $21.8 million in lease-backed debt.

Fitch Ratings upgraded Vista, Calif.'s implied unlimited tax general obligation rating to AA-plus from AA and $111 million certificates of participation series 2007 to AA from AA-minus.

An appellate court ruling could mean increased financial pressure for cities that transfer revenue from electric utilities to general operating funds, Fitch Ratings warned in a report.

Opponents of California's High Speed Rail project filed an appeal Monday challenging a ruling that favored federal jurisdiction over California environmental regulations on a segment of the line from Fresno to Bakersfield.

Transportation Secretary Anthony Foxx warns states of cutbacks in federal highway funding if Congress doesn't pass a transportation bill by May 31.

Two former Senators who were instrumental in tax reform in 1986 said reform should be comprehensive and presidential commitment is very helpful.