Far West

Work resumed on Honolulu’s $5.3 billion elevated rail project Monday after the City Council grated the transit authroity two permits required to resume rail construction.

A bond restructuring by Southern California Public Power Authority on roughly $320 million in natural gas prepay debt resulted in two ratings upgrades.

Supporters of a San Diego Convention Center expansion reaffirmed their support for the plan in an attempt to counteract an alternative plan proposed by the NFL San Diego Chargers.

The University of California is planning to sell $2.6 billion of revenue bonds next week to restructure all of its outstanding lease revenue bonds issued by the State Public Works Board.

Moody's Investors Service affirmed ratings on $6.5 billion of debt issued by 14 California transit agencies and revised outlooks to stable.

Gov. Jerry Brown has appointed a new chief deputy director for budget at the California Department of Finance.

The Securities and Exchange Commission unanimously adopted a registration rule for municipal advisors, establishing that they have a federal fiduciary duty to clients if they provide advice, compensated or not, that is related to bonds or other municipal financial products and involves recommendations based on the specific needs of a municipal entity.

A judge dismissed the lawsuit brought by trustees representing a group of investors seeking to block Richmond, Calif.'s eminent domain plan.

The sentencing of former UBS banker Mark Zaino, who pleaded guilty of municipal bond bid-rigging, was rescheduled to Oct. 24 in a New York federal court.

Two bills aimed at clarifying the process for dissolving redevelopment agencies were sent to the governor for his signature, while others were put on hold until next year.