Far West

The IRS is auditing $49.67 million of general obligation bonds issued by the Oregon State Board of Higher Education in 2006.

Preserving tax exemption for municipal bonds is a top priority for states, governors said Wednesday.

The Internal Revenue Service's National Taxpayer Advocate is urging Congress to make tax reform its highest priority and to simplify the federal tax code by reassessing the need for every tax expenditure, including the exclusion of tax-exempt municipal bond interest from income.

Los Angeles City Council will vote Wednesday on whether to ask voters to approve $3 billion in bonds for street repairs.

The Municipal Securities Rulemaking Board reported annual revenue of $39.9 million for the fiscal year ending in September, a 19% gain over last year's $33.5 million, according to the board's annual report, released Tuesday.

Alaska will sell $164 million of bonds next week after getting an upgrade to AAA by Fitch. The state now has triple-A ratings across the board.

If Congress fails to reach an agreement and enacts sequestration cuts, Los Angeles could lose $115 million in federal funding increasing the city's projected $216 million deficit for 2013-14.

Mayor Kirk Caldwell, who was officially inaugurated Wednesday and installed as the 14th mayor of the City and County of Honolulu, and pledges new era of cooperation with the city council.

Montana’s Governor-elect Steve Bullock said he doesn't plan to make any big course corrections to the direction fellow Democratic Gov. Brian Schweitzer has taken.

Moody¹s Investors Service has kept its short-term ratings on $185 million of East Bay Municipal Utility District revenue bonds after a change in standby bond purchase agreements.