Far West

Susan Gaffney, federal liaison director for the Government Finance Officers Association for the past 12 years, plans to leave her post at the end of next week and move to California to help with family matters.

If CalPERS prevails in having courts define San Bernardino's obligations to the pension fund as immutable in the city's bankruptcy, ramifications could include sweeping bond downgrades, a report said.

San Bernardino filed documents Friday in U.S. Bankruptcy Court in Riverside, Calif. defending its eligibility to receive bankruptcy protection from creditors.

A diverse group of associations with ties to the municipal bond market expect to publish a paper early next year that will give state and local governments guidance on how and when to disclose loans they receive direct from banks.

California¹s cash flow has improved enough to allow to the state to release more funds than it planned to schools, local governments and other programs.

The San Diego County Water Authority's board of directors approved a $3 billion water purchase agreement with Stamford, Conn.-based Poseidon Resources that will allow a Carlsbad seawater desalination plant to move forward.

Dinuba, Calif., will be the first municipality to issue refunding bonds for debt issued by a redevelopment agency in the state since they were dissolved last year.

Los Angeles World Airports' success in managing a multi-billion dollar expansion project is likely to be parlayed into a receptive environment for its $269 million bond pricing next Wednesday.

Moody's Investors Service downgraded the Beaverton, Ore. school district’s underlying unlimited tax general obligation bond rating to Aa2 from Aa1.

The Idaho Housing Finance Association earned a AAA rating from Fitch Ratings in front of plans to privately place a $202.6 million refunding of mortgage bonds.