Far West

Watchdog group advises lawmakers to avoid bookkeeping gimmicks in resolving the multi-billion shortfall in the Highway Trust Fund.

The state of Washington is planning to sell $1.2 billion of general obligation bonds next week to fund various projects, including school construction and state programs for the Columbia River Basin.

Los Angeles achieved the highest short-term ratings for the $1.36 billion tax and revenue anticipation note it plans to price on June 25-26, according to Natalie Brill, the city's debt manager.

Moody’s Investors Service assigned a MIG 1 to $475 million in tax anticipation notes that Idaho plans to price June 24. The rating is Moody’s highest short-term rating.

Moody's Reinstates Aaa (sf) Rating for $2.1 million IHFA bonds that had been excluded from a rating by an administrative error.

Oregon sold $590 million of tax anticipation notes on Tuesday in its annual borrowing for cash-flow needs.

Veteran banker Diane Cummings has been appointed chief credit officer at the California Infrastructure and Economic Development Bank.

With workforce reductions and lower gas tax revenues, the Oregon Department of Transportation will be challenged, according to a recent audit.

Moody's Investors Service has lowered its ratings on $8.5 billion of state and transit agency stand-alone grant anticipation revenue vehicle bonds supported by dwindling revenues from the Highway Trust Fund.

C.M. de Crinis, a Glendale, Calif. based financial advisory firm, hired veteran public finance banker Richard Kiss to cover Northern California. Kiss said the move was prompted by changes to municipal advisor regulations.