Far West

Compton, Calif., a city that skirted bankruptcy last year, on Tuesday secured a buyer in Wells Capital for a $5 million note thanks in part to a lockbox payment structure.

The Municipal Securities Rulemaking Board should harmonize its rules with those of other regulatory agencies, conduct thorough analysis of the costs imposed by its rules and clarify language in the rules to make them less ambiguous for market participants and compliance examiners, said comment letters filed with the board in recent days.

Stockton, Calif., has shot back at challenges to its eligibility for bankruptcy protection ahead of a hearing set for next week.

Twin Falls, Idaho, plans to close Thursday on a $34.5 million privately placed bond to fund new infrastructure to support greek yogurt manufacture Chobani's new $450 million plant there.

President Obama stepped up pressure on Congress Tuesday to avoid the "meat-cleaver approach" of automatic, across-the-board federal budget cuts that are set to go into effect on March 1.

The San Diego County Water Authority on Wednesday achieved $51 million in net-present value savings through 2034 when it priced a $299 million refunding.

The IRS is auditing two separate issuers to address the accuracy of form 8038-T, a project the agency has taken up as one of their fiscal 2013 goals. Form 8038-T is filed by issuers when making an arbitrage payment.

Sales of municipal bonds in the Far West region grew by almost a quarter in 2012 compared to a year ago, spurred by record low interest rates that led to an increase in refinancing.

Several major airport credits could be negatively affected by operational shifts in the wake of the US Airways/American Airlines Merger, officially announced Thursday.

The state Senate passed a bill Monday that would authorize $475 million of general obligation bonds for school construction.