Far West

Rep. Dave Camp's proposed tax reform plan would eliminate or modify some of the federal tax code provisions in a way that would discourage nonbank corporations, banks, and property and casualty insurance companies from buying municipal bonds.

Rep. Dave Camp's tax reform proposal would provide some additional revenue stability to the beleaguered island, and the controversial discussion draft is welcomed by the commonwealth's representative in Congress and others working to advance the territory's interests.

The Securities and Exchange Commission has approved the Municipal Securities Rulemaking Board's proposal to consolidate its multiple registration requirements and forms for municipal securities dealers and municipal advisors.

The PFM Group announced Thursday that Jamie Doyle, David Eichenthal, Sarah Hollenbeck, and Sergio Masvidal have all been promoted to managing director.

Standard & Poor's and Fitch Ratings have downgraded a health care system with hospitals in Oregon, Washington, and Alaska, ahead of its $108 million refunding deal.

Sales of municipal bonds in the Far West bucked the national trend in 2013 by rising from 2012, as new money swapped with refundings as the market driver in the region.

The Los Angeles economy is improving, but the city still anticipates a $242 million deficit for fiscal 2014-15, according to presentations made at the city's investor conference held Wednesday at Universal Studios in Hollywood.

At the request of a healthcare workers union, California Treasurer Bill Lockyer has asked the state's debt commission to study the disclosures non-profit hospitals make to the bond market.

The Southern California Public Power Authority is planning to finance its acquisition of a Nevada natural-gas power plant with a $322 million sale of revenue bonds.

California's Department of Water Resources sold $162 million of water revenue bonds on Tuesday to finance construction and to refund outstanding debt.