Far West

Stockton, Calif.'s effort to make bondholders take a $350 million hit during its bankruptcy process will likely blackball it from the bond market for years and raise future costs.

Congressional staffers and finance experts speaking at the American Association of State Highway and Transportation Officials Washington Briefing said the outlook for highway funding is more uncertain than ever, while two transport-oriented lawmakers vowed to work across the aisle to make sure state and local officials have federal support.

The Municipal Securities Rulemaking Board has filed a proposed rule change with the Securities and Exchange Commission that would tighten regulation of dealers' muni-related telemarketing practices and require them to respect customers' "do not call" requests indefinitely, rather than for just five years.

The Washington State Department of Transportation said its mistakes in the design of the new Highway 520 floating bridge will costs tens of millions of dollars and delay construction.

Honolulu Mayor Kirk Caldwell announced a five-year plan Monday to fix and repave 900 miles of road over the next three years.

Fitch Ratings assigned a AA-plus rating ahead of Nevada's plans on March 7 to refund $200 million in general obligation limited tax bonds.

Voters on March 5 will select three new trustees for a seven-person Los Angeles Community College District board in a district that has been riddled with controversy.

Fitch Ratings downgraded the underlying ratings on $49 million of Placerville, Calif.'s Marshall Medical Center revenue bonds to junk because of weak finances.

The National Governors Association sent two similar letters to President Obama and congressional leaders urging them to put their partisan bickering aside and come together to avoid the automatic, across-the-board budget cuts set to begin Friday.

San Diego-based Common Bond Capital Partners has acquired its first distressed land-secured municipal bond project in Florida.