Far West

The Internal Revenue Service is auditing two bond issues sold in 2007 by Colorado authorities for a university and a health care borrower.

With its credit reputation on the upswing, California was in a position to capitalize on Thursday when it priced $1.2 billion of general obligation bonds.

Los Angeles Mayor Eric Garcetti on Nov. 12 announced several initiatives expected to save up to $50 million that will be used to repair 200 miles of streets annually.

An issuer has publicly disclosed its agreement to participate the Municipalities Continuing Disclosure Cooperation initiative, a decision several bond lawyers said could be a major misstep.

The city of Spokane, Wash. is planning to sell $175 million of green bonds next week to help fund some of the city's environmental projects.

Many major U.S. cities still suffer from the fiscal crisis, despite rising housing prices and the falling national jobless rate, according to a report released Tuesday by the Pew Charitable Trusts.

Moody's Investors Service affirmed Clark County, Nevada's Aa1 rating ahead of plans to price $100 million in general obligation limited tax flood control bonds on Nov. 20.

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.