Far West

Public Financial Management Group has picked up two Northwest municipal finance veterans to run its 35th office. The new Oregon office will be managed by recently-hired directors Ken Rust, former chief administrative officer for Portland, and Eric Johansen, previously the city’s treasurer.

Maui County will sell bonds competitively, citing high underwriter interest and increased transparency, according to financial advisor Curt de Crinis and Danny Agsalog, county finance director.

Atwater, Calif. continued working to avoid bankruptcy when its city council adopted a financial plan to help close an estimated $3.3 million deficit

The District of Columbia's Chief Financial Officer will hand over nearly three years of internal audits and add a disclosure to the district's most recent debt issuance after a request from the Securities and Exchange Commission.

New York residents shoulder the highest state and local tax burdens at 12.8%, the Tax Foundation found in a new study.

If either of the judges overseeing bankruptcy cases for two California cities allows CalPERS, the state's pension system, to be included on a list of creditors it could encourage other cities to declare bankruptcy.

Marcy Edwards, senior financial policy advisor to the District of Columbia's chief financial officer, has been named a public board member of the Municipal Securities Rulemaking Board, the MSRB announced Monday.

The California Treasurer's Office clarified statements Treasurer Bill Lockyer made that appeared to call into question the legality of the commonly used certificate of participation debt structure.

The IRS is auditing $650 million of general obligation school bonds Clark County, Nev. School District issued in 2007 and $50 million of general obligation water and sewer bonds Fernley, Nev. Issued in 2007.

No one can be certain, at this point, if more distressed cities in California will follow the path of Stockton, San Bernardino and Mammoth Falls, and file bankruptcy.