Far West

Palmdale, Calif. wants to gain control of its local airport from the city of Los Angeles.

A hearing is slated for Friday that could determine the fate of the planned $250 million expansion of the San Diego convention center, according to UT San Diego.

Moody's Investors Service assigned a Baa1 rating and gave a stable outlook ahead of plans by CFMA to price $44 million in revenue bonds for a South Los Angeles agency that works with disabled people.

The Internal Revenue Service has closed audits of bonds issued by North Las Vegas in 2006 and a Texas board in 2002 without any change to the tax-exempt status of the bonds. However, the IRS found arbitrage yield calculation errors with the city's bonds said if they are not fixed, penalties or a finding of taxable interest could ensue.

Los Angeles voters rejected a sales tax increase, and sent Wendy Greuel and Eric Garcetti to a May 21 runoff for the mayor's race.

Three Senate Democrats wrote to House Speaker John Boehner, urging him to restore transportation funding cut in pending House legislation.

A California Republican appears to be preparing to reintroduce legislation that would prohibit states from issuing tax-exempt, tax-credit and direct-pay bonds unless they subject their pension plans to federal government oversight and regulation.

The Municipal Securities Rulemaking Board is holding a meeting on March 22 for market participants to discuss changes affecting public pension obligations and other post-retirement benefits, including plan redesigns, differing accounting and valuation methods and legal issues.

The Internal Revenue Service's tax-exempt bond office will process Build America Bond and other direct-pay bond payments manually for a two to three weeks to factor in 8.7% sequestration cuts, but are working to ensure this does not delay the payment process.

The American Association of State Highway and Transportation Officials expressed dismay Monday over a House bill for a continuing resolution to fund the U.S. government.