Far West

The Supreme Court's 2010 Citizens United ruling should alleviate concerns by the Municipal Securities Rulemaking Board that additional regulation of bond ballot campaign contributions could violate free speech protections guaranteed by the First Amendment, according to the National Association of Independent Public Finance Advisors.

The Los Angeles City Council approved plans for a downtown street car last Wednesday that include up to $352 million over 30 years for operations costs, according to news reports.

Moody's Investors Service downgraded to A2 from Aa2 the rating on $145.9 million in certificates of participation issued by Antelope Valley, Calif.-East Kern Water Agency.

Fitch Ratings and Moody's Investors Service both gave a double-A ratings to a $75.4 million planned March 18 sale by the California State Public Works board for University of California Santa Barbara.

Stockton, Calif., which is battling with creditors over its attempt to enter Chapter 9 bankruptcy protection, received $1 million from the Federal Emergency Management Agency to buy two new fire engines.

San Bernardino, Calif., is the latest city to receive a letter from the state government demanding it hand over redevelopment funds but threatens to fight back in bankruptcy court.

House Republicans unveiled their fiscal 2014 budget Tuesday that would overhaul the tax code without raising new revenue, slash federally-funded high-speed rail, repeal President Obama's healthcare law, and cut domestic programs.

Mary Jo White, President Obama's nominee for chairman of the Securities and Exchange Commission, told lawmakers Tuesday that her work representing high-profile clients as a criminal defense attorney will not create undue conflicts of interest or affect her ability effectively run the SEC.

Fewer governors have been focusing on pension reform in their state of the state addresses this year, but most who propose reform follow through, according to Loop Capital Markets.