Far West

Moody's Investors Service said a recent less-conservative analysis of California revenues increases the likelihood the Legislature will pass a budget with higher revenues and higher spending.

Rep. John Delaney, D-Md., has introduced a bipartisan bill that would create an American Infrastructure Fund to provide loans and loan guarantees to state and local governments to help finance certain infrastructure projects.

The Securities and Exchange Commission has charged South Miami, Fla. with defrauding investors by negligently making misstatements and failing to disclose actions it took that jeopardized the tax-exempt status of $12 million of bonds.

The California Public Employees' Retirement System filed motions to remove the law firm Winston & Strawn LLP from the San Bernardino and Stockton Chapter 9 cases because they hired their outside bankruptcy attorneys.

While municipal bond market participants oppose President Obama's proposal to limit the value of tax-expenditures, including the muni bond interest exclusion, to 28%, Republican proposals would be even harsher, the Center on Budget and Policy Priorities said in a recent paper.

Three-term City Councilman Eric Garcetti replaces termed-out Los Angeles Mayor Antonio Villaraigosa on July 1st following a hotly-contested run-off.

More than a year into a battle between the San Diego County Water Authority and the Los Angeles-based Metropolitan Water District of Southern California over rate increases, the central issues appear to be far from resolved.

California's budget watchdog said it expects revenues to come in more than $3 billion higher than estimated in Gov. Jerry Brown's revised budget.

Transportation Corridor Agencies said Neil Peterson will become its new chief executive officer.

Standard & Poor's said California Gov. Jerry Brown's revised budget released this week that projects lower revenues has little impact on the state's credit rating.