Far West

The Financial Industry Regulatory Authority fined five firms $255,500 and fined and suspended an individual for violations of municipal securities rules.

Morgan Hill, Calif., is implementing special tactics in its $88 million refunding sale of tax allocation bonds in order to make the redevelopment debt more attractive for investors.

States are no longer waiting for the federal government when it comes to trying to drum up new revenue for transportation infrastructure, said Victor Mendez, administrator, Federal Highway Administration, Friday morning at the Bond Buyer's Transportation Finance/P3 conference here.

Action by Congress to eliminate both the tax exemption for municipal bonds and the state and local tax deduction would cause the loss of $71 billion or 0.35% of total gross domestic product and about 417,000 jobs or 0.28% of total employment over the next decade, two government groups said Thursday.

Municipal borrowers looking to expedite the process to tap the Transportation Infrastructure Finance and Innovation Act program for project loans should bring a thorough financing package to the table and be flexible in negotiating terms, loan recipients offered up as advice Thursday.

An Escondido, Calif. charter school foundation that went into technical default on its bonds in July 2012 has received an improved outlook for its BB-minus rating from Standard & Poor's.

Los Angeles Department of Airports bonds received a healthy reception as the operator of Los Angeles International Airport hits the halfway mark on a $7.2 billion modernization project.

During a board meeting Wednesday, the University of California's new president proposed a tuition freeze for the next academic year in order to keep costs affordable.

Standard & Poor's raised its rating to AAA from AA-plus with a stable outlook on Mesa Water District, Calif.'s subordinate-lien series 2010 revenue certificates of participation.

Issuers can take advantage of the independent municipal advisor exemption in order to get the advice of underwriters and other professionals who would otherwise be unable to offer it, according to a paper the Government Finance Officers Association has published about the Securities and Exchange Commission's final MA registration rule.