Far West

California local streets and roads will continue to deteriorate unless additional funding can be found, according to recent statewide condition report.

Moody's Investors Service has upgraded the rating on Stockton, Calif.'s 2006 lease revenue bonds and its water bonds following the confirmation of the city's bankruptcy exit plan, while affirming a low speculative-grade Ca rating on its pension obligation bonds.

The city of Allen Park, Mich., is preparing to refinance up to $28 million of bonds that were the target of fraud charges and a recent settlement by the Securities and Exchange Commission.

Long-term public municipal issuance volume reached $71.8 billion, down by 13.6% from the previous quarter, but up by 5.2% from a year ago, according to the third-quarter Municipal Credit Report by Securities Industry and Financial Markets Association Thursday.

The San Francisco Metropolitan Transportation Agency's revenue bond rating has been upgraded to Aa2 from Aa3 based on positive financial operations.

The Securities and Exchange Commission has charged Allen Park, Mich., and two former city leaders with fraud in connection with a municipal bond offering to support a movie studio project within the city.

California Gov. Jerry Brown easily won re-election while persuading voters to approve two ballot measures with municipal market implications.

Incumbent Nevada Gov. Brian Sandoval led a sweep of top state offices that resulted in Republicans taking control of the state Assembly and Senate.

Standard & Poor's upgraded California GO bonds to A-plus from A Wednesday, citing voter approval of a rainy-day-fund ballot measure.

San Bernardino voters decided the city should continue to determine police and firefighter pay by a charter formula that effectively ratchets up their pay.