Far West

A renewed interest in subdivisions that stalled during the recession is likely the main reason the California Debt and Investment Advisory Commission reported doubling of refunding volume in land-secured Mello-Roos bonds from fiscal year 2011-12 to 2012-13, according to government consultant Larry Kosmont.

California's revenues for the month of October came in at 12.3% above estimates, according to State Controller John Chiang.

The recent passage of a measure to build California's rainy day fund while also limiting the amount of reserves school districts can keep is a positive for the state and a negative for districts, Moody's Investors Service said.

Virginia lawmakers likely will reverse a plan to kill a $50 million transfer to the state's transportation fund that imperiled a proposed $100 million road bond issue.

Voters in California and Texas, the nation's two most populous states, scored notable victories for fiscal responsibility on Election Day by overwhelmingly taking stands against shifting today's obligations onto the backs of future generations.

The Securities Industry and Financial Markets Association's municipal securities division will honor Kenneth D. Gibbs, president of the Municipal Securities Group of Jefferies LLC, with its 2014 Honor Roll Award at a luncheon Tuesday in New York City.

Thomas Jefferson School of Law in San Diego plans to close on a debt restructuring agreement on Nov. 15 involving a sale-leaseback of its building that reduces $127 million in outstanding debt by two-thirds and resolves a default.

The Securities and Exchange Commission's unprecedented enforcement action against a former municipal official earlier this week in a case involving Allen Park, Mich. should make public leaders aware and cautious, legal experts and issuer officials said Friday.

Government Finance Officers Association officials said it makes sense that draft standards on other post-employment benefit financial reporting are similar to the new standards for pension reporting.

The Fix LA Coalition, an effort spearheaded by labor unions and its allies, wants Los Angeles City Attorney Mike Feuer to file a regulatory complaint against the underwriters involved in 2006 interest rate swaps saying the risks weren't disclosed.