Far West

The average fee that state and local governments in California pay bankers to underwrite their municipal bonds hit a record low last year at $3.98 per $1,000 of bonds sold.

Two separate forecasters said Wednesday that while California's drought is significant for agriculture, the impact looks to be marginal for the state's larger economy.

Three convicted bid-riggers filed documents with a federal appeals court this week arguing that their convictions should be overturned because of several errors by the lower court.

Small financial advisory firms face the most challenges adapting to the new rules and regulations governing municipal advisors, with some predicting that many of the smallest MAs will go out of business.

Two separate sales tax measures that pit street repairs against mass transit projects are being floated in Los Angeles County.

Senate Finance Committee chairman Ron Wyden has proposed a bill to extend roughly 47 expired and expiring tax provisions, including four relating to bonds, governments, and Puerto Rico. Sens. Wyden and Orrin Hatch, the top Republican on the committee, have scheduled a vote on the proposed extender legislation for Thursday.

Moody's Investor Services affirmed its Aa1 rating ahead of plans by the Montana Board of Housing to price $71.5 million in single family program bonds.

Moody's Investors Service plans to downgrade $68 million of Idaho Housing & Finance Association's bonds from AAA to Aa1 (sf) on April 9 to coincide with a remarketing of the variable rate bonds to the variable-rate remarketed obligation mode.

A new study projects that Puerto Rico could receive billions of additional federal dollars if it became a state, information that some observers said could inject new life into the statehood debate on the financially troubled island.

Stradling Yocca Carlson & Rauth completed distinct more municipal bond transactions in California than any other law firm in 2013 according to Thomson Reuters.