Far West

An Orange County Grand Jury published a scathing 35-page report documenting what it sees as a pattern of corruption in Orange County, Calif. and recommending county supervisors establish a blue ribbon ethics commission.

California Treasurer Bill Lockyer and conduit issuers California Statewide Communities Development Authority, and California Municipal Finance Authority, reached an agreement to implement reforms.

Senate Finance Committee chairman Sen. Max Baucus, D-Mont., will not seek reelection in 2014.

Standard & Poor's Ratings Services on Friday gave two Santa Paula, Calif. credits a stable outlook, but downgraded their long-term rating and underlying spur to A-plus from AA-minus.

Moody's Investors Service said it has placed San Francisco Community College District's A1 rating on review for possible downgrade ahead of a decision on its accreditation.

George Canellos and Andrew Ceresney have been named co-directors of the Securities and Exchange Commission's enforcement division — the first time the SEC will has had two leaders of the group.

SIFMA urged a House Ways and Means tax reform working group to leave municipal bonds alone and warned that tax credit bonds as an alternative are not an effective option.

Frank Shafroth on Friday left the Municipal Securities Rulemaking Board, where he was director of legislative affairs and intergovernmental relationships, to focus on his post at George Mason University.

A team of El Paso, Texas, officials and advisors spent last week traveling to New York and Washington, D.C., to trumpet their planned nearly half a billion dollar bond-financed overhaul of the city's downtown area, which they see as a major game-changer for their region.

Twelve organizations representing the 501(c)(3) bond community submitted comments to a House Ways and Means tax reform working group urging them to protect tax-exempt bond financing.