Far West

Nearly a dozen state and local groups are urging Congress to restore significant cuts that were made to the clean water and drinking water state revolving fund programs in the latest appropriations bill.

A Federal Bureau of Investigation spokeswoman confirmed a taskforce has been formed to investigate political corruption in Orange County, but no information has been released about the impetus or targets of the investigation.

The U.S. Bankruptcy Judge in the San Bernardino Chapter 9 case will appoint Gregg Zive, U.S. Bankruptcy Judge for the Reno, Nev., district, as mediator.

Peter Koht, Santa Cruz's economic development director, has left the department after four and a half years.

Washington State is planning to sell $864 million of general obligation bonds in a competitive offering next week after receiving improved outlooks from two credit rating agencies.

The Municipal Securities Rulemaking Board is seeking input from market participants on whether it should collect pre-trade pricing information from broker-dealers and make it available over its online EMMA system.

If the top individual tax rate were lowered to 25% from the current 39.6%, as favored by Republicans, and the alternative minimum tax were repealed, it would cost $3.77 trillion over 10 years, a new Joint Committee on Taxation report said Wednesday.

A bond restructuring underway by the Southern California Public Power Authority on $371.5 million in natural gas prepayment debt could result in ratings upgrades by two rating agencies if efforts are approved by bondholders.

The National Association of Water Companies is urging the Treasury Department and the Internal Revenue Service to change the remedial actions that must be taken when bonds no longer meet private activity bond restrictions, claiming the current ones deter or burden public-private partnerships.

The Senate Finance Committee's top Republican said Wednesday that Detroit's bankruptcy filing and Chicago's pension problems illustrate the need for legislation he has proposed that would allow state and local governments to turn to move from defined benefit plans to life insurance company annual annuities.