Far West

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"Plan B" backup proposal to prevent some tax rate increases would make permanent two muni bond provisions that were originally enacted under the 2001 and 2003 Bush-era tax cuts.

Airports, ports, and unregulated power companies are at risk due to the impending fiscal cliff, while toll roads and public power utilities are insulated from the worst danger, according to a Moody's Investors Service report released Wednesday.

An Internal Revenue Service official has told Rep. Dennis Kucinich that Treasury Department officials cannot talk with him about the Build America Bonds used to finance the coal-fired Prairie State Energy Campus power plant in Illinois, which has experienced cost overruns and operational problems.

The State Bond Commission considers a plan Thursday by Louisiana Stadium and Exposition District for a $430 million refunding in 2013.

In yet another fiery exchange over efforts to avert the fiscal cliff, a top White House administration official said Wednesday President Obama will veto House Speaker John Boehner's backup plan.