Far West

Securities and Exchange Commission chairman Mary Jo White said Wednesday that a 2012 risk alert on whether underwriters are doing enough to ensure the accuracy of offering documents is an example of how behind-the-scenes SEC action protects investors.

Stockton residents voted to approve a sales tax increase that will help the city fund its plan to exit Chapter 9 bankruptcy.

California is set to sell $300 million of floating rate general obligation bonds this week to finance various air safety and transportation projects.

If approved, Stockton’s plan to exit bankruptcy identifies negotiation strategies, legal ambiguities, and potential consequences for future municipal bankruptcies, according to Fitch Ratings.

The Greater Wenatchee, Wash., Regional Events Center Public Facilities District has agreed to pay $20,000 — the first financial penalty the SEC has assessed against a municipal bond issuer — to settle Securities and Exchange Commission charges that it misled investors of bonds used to finance the construction of an events center and ice hockey arena.

A U.S. Department of Education's warning that California school testing legislation violates federal law is a credit negative for the state's school districts, according to Moody's Investors Service.

The California Public Employees' Retirement System lost its appeal of San Bernardino's bankruptcy, and filed an amicus brief in a separate case about the city's former redevelopment successor agency.

The Municipal Securities Rulemaking Board announced Monday that it has begun a multi-year campaign to expand outreach to state and local issuers, emphasizing how they can use the MSRB's EMMA website for disclosure compliance and education.

California's plan to reduce greenhouse gas emissions will likely be management for state public power agencies, according to Fitch Ratings.

The Virginia Supreme Court issued a ruling Thursday that allows the Elizabeth River Tunnels project to move forward as a tolled facility.