Far West

The tax exemption on municipal bond interest will not survive tax reform efforts in Washington, D.C., without a grass-roots effort from issuers, according to market experts at the fifth National Municipal Bond Summit.

Chicago received 16 responses in its first market outreach to identify prospective bidders in a possible deal to privatize Midway International Airport, according to the city's chief financial officer Lois Scott.

The Internal Revenue Service closed an audit of $39.24 million general obligation bonds issued in 2007 by Manchester, Conn., with no change to the bonds' tax-exempt status.

Municipal market participants are encouraged but cautious about President Obama's proposal for a new type of taxable, direct-pay bond called America Fast Forward bonds to finance the nation's infrastructure.

Lotteries are a key source of revenue for 44 states nationwide, but players' evolving tastes and record-low interest rates have contributed to put lotteries in a precarious position, according to the head of the industry's leading interest group.

Gov. Jerry Brown¹s proposed budget would improve the credit quality of California school districts, according to Moody's Investors Service.

Moody's Investors Service Wednesday downgraded to A2 from Aa3 a Washington hospital's limited tax general obligation bonds affecting $223.9 million in debt.

Pullman, Wash.'s general obligation bond ratings has been cut to A1 from Aa3 by Moody's Investors Service due to weak finances.

A water district employee in Lake Forest Park, Wash. pilfered more than $350,000 of ratepayer money by using her children a state audit found, according to local reports.

The San Bernardino City Council on Tuesday approved the contract for its new city manager, Allan Parker, who will guide the city through Chapter 9 bankruptcy.