Far West

Three muni market groups have joined forces with the Council of Development Finance Agencies and sent Congress draft legislation that would create special Hurricane Sandy Recovery Bonds to help businesses and people in the Mid-Atlantic region still reeling from storm-related destruction.

Kayne Anderson Capital Advisors and Saybrook Capital have formed a partnership to create a fund that will invest in distressed and defaulted municipal bonds.

The Financial Industry Regulatory Authority has fined three Chicago-based firms a total of $40,000 for violations of muni trade reporting and other rules.

Massachusetts Treasurer Steven Grossman wrote U.S. Senators Harry Reid, D-Nevada, and Jon Kyl, R-Ariz., to oppose legislation that would limit states' control of online gambling within their borders.

West Coast states and British Columbia, have formed a first of its kind partnership to cooperate on financing public infrastructure projects through private investors.

The Idaho Bond Bank received an Aa1 affirmation from Moody’s Investors Service ahead of plans on Nov. 28 to price $64.5 million in revenue bonds.

Newport Beach, Calif.-based Mischler Financial Group, Inc., a Service Disabled Veterans Business Enterprise, announced that it plans to contribute 10% of the firm’s November profits to the Wounded Warrior Project.

Pasadena, Calif.-based Episcopal Communities & Services received an A-minus rating and stable outlook from Fitch Ratings ahead of plans to refund $67.5 million in CCRC bonds.

California’s October revenues came in higher than budget estimates, according to both the State Controller’s Office and the Department of Finance.

California's nonpartisan Legislative Analyst's Office said in a report Wednesday it forecasts the state will face a $1.9 billion budget deficit for the next fiscal year.