Far West

Newly empowered with supermajorities in both houses of the Legislature, some California Democrats have introduced legislation that would increase borrowing and make taxing easier.

Federal and transit agency officials made their case for federal aid to rebuild in the aftermath of Superstorm Sandy, telling a Senate panel they will need it to help pay debt service on new muni debt.

J.R. Simplot received an Aa2 long-term rating from Moody's Investors Service ahead of plans to price $45 million in bonds on Dec. 28 through the Industrial Development Corp. of Power County, Idaho.

Honolulu officials said new construction and improved value on existing property resulted in a $4.1 billion increase in assessed value on the Island of Oahu.

Los Angeles World Airports and Los Angeles Metropolitan Transportation Authority have overcome their differences and are working on a plan to connect light rail to the airport.

Bonds sold by Santa Cruz County's redevelopment agency could still be downgraded because of a dispute with the California Department of Finance over redevelopment revenue, according to Fitch Ratings.

California revenues in November were $840 million below the forecast in the state's budget mainly due to lower tax collections from Facebook's initial public offering, according to the Department of Finance.

An agreement signed Wednesday by City and County of Honolulu officials and the Federal Transit Administration will provide $1.5 billion in New Starts funding for the region's elevated rail project.

The 100 largest public-employee retirement systems had $2.8 trillion in holdings and investments in the third quarter of 2012, a 2.6% increase from the same quarter last year and the highest level since the second quarter of 2008, according to a Census Bureau report.

House Speaker John Boehner's "Plan B" backup proposal to prevent some tax rate increases would make permanent two muni bond provisions that were originally enacted under the 2001 and 2003 Bush-era tax cuts.