Far West

The American Bar Association's Tax Exempt Financing Committee recommended that the Treasury Department and the Internal Revenue Service issue guidance on the definition of issue price and safe harbors for determining private use of management contracts for bond financed facilities as part of its 2013-2014 priority list.

State debt issuance has remained below average levels even though governments have large infrastructure needs and less ability to pay for projects through pay-as-you-go financing, Standard & Poor's said in a report.

San Francisco International Airport plans to go ahead with plans to price $480 million in debt next Thursday even as the airport faces an investigation into a crash landing at the airport last weekend that left two dead and five seriously injured.

The Municipal Securities Rulemaking Board announced Wednesday it will launch a tool to help issuers keep track of the dates they must file periodic financial disclosures to its EMMA website. But some question whether this will cause a dispute between the MSRB and Digital Assurance Certification.

California's municipal utilities, rated in the A to double-A category, have a stable outlook, according to Fitch Ratings.

The IRS is auditing $220.74 million of general obligation bonds issued by the San Diego Unified School District in 2010 and 2012.

The Stockton City Council approved placing a measure to increase the bankrupt city's sales tax on a November ballot.

Dozens of lawmakers are urging House leaders to reject proposals to eliminate or cap the exclusion for tax-exempt bonds.

The Municipal Securities Rulemaking Board's EMMA system received more than 500,000 continuing disclosure documents from municipal securities issuers or their agents between July 2009 and March 2013, the board reported Wednesday.

State Sen. David Ige, chairman of the Senate Ways and Means Committee, announced today that he would challenge Gov. Neil Abercrombie in the Democratic primary for governor.