Far West

Illinois has settled securities fraud charges with the Securities and Exchange Commission for misleading investors about its approach to funding its pension obligations.

Two northern Virginian House Democrats have introduced legislation that would authorize the study of an expansion of the Washington Metrorail deeper into the commonwealth.

Los Angeles Department of Power estimates it will need to issue bonds for two-thirds of the projected $1.8 billion a year in capital improvements needed for both its power and water systems.

The House approved legislation on Wednesday to fund the government after current authorization expires March 27, over the objections of transportation advocates upset that it would cut millions in highway and transit spending.

Standard & Poor's revised the outlook to stable from negative and affirmed a BBB underlying rating on Reno, Nev., capital improvement revenue bonds.

City employees in insolvent San Bernardino, Calif. are receiving nearly $1 million in pay raises despite the city's shaky financial situation.

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.