Far West

California's drought emergency has heightened the need for financial aid, as the state and federal government pledge to send funds to communities in need.

After a nearly three-year battle, Honolulu rail officials prevailed over detractors of Oahu's $5.26 billion elevated-rail project with two federal court victories on Feb. 18.

Dealer groups are unsure whether the Municipal Securities Rulemaking Board's proposed best execution rule is tailored enough for the municipal market, but are pleased it would exempt sophisticated professionals.

California Gov. Jerry Brown has signed into law a bill that would allow infrastructure finance districts to include previous redevelopment project areas.

Moody's Investors Service on Feb. 18 upgraded Orange County, Calif. Sanitation District's certificates of participation to Aa1 from Aa2 affecting $392.1 million in debt.

The California Housing Finance Agency showed it's possible to buy time, and not just kick the can down the road, when faced with significant financial challenges, according to a Municipal Market Advisors report.

A California appeals court has agreed to fast track review of a lower court's decision that prevents the state from issuing $8.6 billion in bonds for its high-speed rail project.

Seven firms have been ordered to pay a total of $68,500 in fines and $16,088 in restitution for municipal trade, disclosure, pricing and supervisory violations, according to the Financial Industry Regulatory Authority's monthly disciplinary actions released Tuesday.

The benefits of stimulus spending on transportation infrastructure during economic downturns outweigh the initial cost, the Transportation Research Board says.

The Treasury Department resumed sales of state and local government series securities on Tuesday at noon, Eastern Standard Time.