Far West

The Internal Revenue Service's Tax Exempt Bond Office published an educational paper summarizing processes to help issuers comply with federal tax law requirements and the voluntary closing agreement program provisions.

Montebello, Calif., a city of 65,000 once the subject of eight audits, had its issuer rating upgraded Tuesday to Baa1 by Moody's Investors Service.

The American Road and Transportation Builders Alliance will focus on a potentially trend-setting challenge to a prominent Virginia public-private partnership at the group's annual conference July 24-26.

Former President Bill Clinton strongly urged Washington Tuesday to pass a national infrastructure bank bill and encouraged state and local governments to embrace more public-private partnerships.

National Public Finance Guarantee confirmed that Weil, Gotshal & Manges was hired to replace Winston & Strawn as its counsel in the Stockton and San Bernardino bankruptcy proceedings.

A report by the San Diego Independent Budget Analyst found that the $898 million originally estimated as the city's cost to repair aging infrastructure may be outdated.

If a budget is not passed soon, Washington State agencies face shutdowns and employees face temporary layoffs starting July 1.

A Washington, D.C. PACE green energy program completed its first financing, the District Department of the Environment announced.

The sentencing dates of more convicted municipal bond bid-riggers have been pushed back, according to documents filed with the U.S. district Courts for the Southern District of New York and Western District of North Carolina, as prosecutors seek stiffer penalties for price-fixing of investment contracts.

If the tax exemption for municipal bonds had been repealed in 2012, up to 892,000 jobs. $46.9 billion of labor income and $71 billion annually in gross domestic product would have been lost, according to a new U.S. Conference of Mayors report.