Far West

Hercules, Calif., officials said Tuesday they may default on electric system revenue bonds if a tender offer fails to draw enough buyers by March 28, the end of the offer period.

Detroit's bankruptcy proceedings are on hyper speed compared to San Bernardino's Chapter 9 bankruptcy.

Los Angeles CAO Miguel Santana told the mayor and city council that they need to continue to rein in expenses including labor costs, and seek voter-approved tax increases for infrastructure repairs, if they want to eliminate the structural deficit.

The Washington State Legislature adjourned last week without passing two large bond sales that would fund school construction projects in the state.

A judge denied a challenge filed by San Jose Mayor Chuck Reed and other supporters of the Pension Reform Act of 2014, causing them to delay placing the measure on California's November 2014 ballot.

Los Angeles County Metropolitan Transportation Authority is undergoing a reorganization to shrink what a consultant's report called a "top heavy" executive structure, and Chief Financial Officer Terry Matsumoto is leaving.

California's Legislative Analyst's Office is suggesting that the legislature approve some of Gov. Jerry Brown's proposals to change current law regarding infrastructure financing districts, while rejecting others.

The Transportation Corridor Agencies boards voted Thursday to accept the resignation of Neil Peterson, chief executive officer of two Orange County, Calif. toll roads, who will be replaced on an acting basis by Michael Kraman.

The city of Portland, Ore., is planning to sell $30 million of new money and refunding general obligation bonds in a competitive offering next week.

Dealer groups are happy that the Municipal Securities Rulemaking Board has exempted sophisticated municipal market professionals from its proposed best execution rule, but would like more guidance and economic analysis going forward.