Far West

For the first time ever, state and local governments' contribution to national gross domestic product is still negative three years after a recession has passed its low point, the Tax Policy Center found in a new report.

Los Angeles mayoral candidates Eric Garcetti and Wendy Greuel are pulling out the stops to prove they are the right candidate to help the city craft a long-term solution to budgetary problems in a May 21 election.

The Financial Industry Regulatory Authority has updated its guidance for individual municipal bond investors by urging them to ask brokers questions about issuer disclosures and bond insurer ratings.

Stockton, Calif., the biggest U.S. city to file for bankruptcy, will restart negotiations with creditors while it develops a plan to adjust its debts and exit court protection.

Ontario, Calif., officials filed a claim on April 11 seeking to dissolve a joint powers agreement in an attempt to wrest control of its local airport away from Los Angeles World Airport.

Riverside, Calif., received an F1-plus rating and a stable outlook from Fitch Ratings ahead of plans to refund $30 million in taxable pension obligation bond anticipation notes in a negotiated sale on May 15.

Jan Grimes, Orange County's acting auditor-controller, was appointed to the permanent position replacing David Sundstrom.

An Oregon delegation led by Treasurer Ted Wheeler met with White House officials last week to discuss a new exchange for regional infrastructure projects.

Oregon Gov. John Kitzhaber said the $3.4 billion Columbia River Crossing bridge project will die if Washington lawmakers try to kill light-rail from the proposal, according to reports.

Moody's Investors Service issued a report on Wednesday that examined the local governments and school districts that rely on federal employment, procurement, Medicare reimbursement and education grants that would be most affected by sequestration.